News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Pluristem Therapeutics (PSTI) Awarded a $3.1 Million Grant by Israeli Government


4/30/2012 10:14:44 AM

HAIFA, Israel, April 30, 2012 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR) today announced that its wholly owned subsidiary, Pluristem Ltd., has received approval for a 11.8 million New Israeli Shekels (approximately $3.1 million) grant from the Office of the Chief Scientist (OCS) within the Israeli Ministry of Industry, Trade and Labor. Once received, the grant will be used to cover R&D expenses for the period March to December 2012. According to the OCS grant terms, Pluristem Ltd. is required to pay royalties in the rate of 3% - 5% on sales of products and services derived from technology developed using this and other OCS grants until 100% of the dollar-linked grants amount plus interest are repaid. In the absence of such sales, no payment is required.

Read at GlobeNewswire

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES