Pluristem Awarded a $2.4 Million Grant From Israeli Government
HAIFA, Israel, Jan 18, 2012 (GlobeNewswire via COMTEX) -- Pluristem Therapeutics, Inc. (Nasdaq:PSTI) (TASE:PLTR), today announced that its wholly owned subsidiary, Pluristem Ltd., has received approval for a NIS 9 million (approximately $2.4 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 2011 to February 2012.
The Office of the Chief Scientist of the Ministry of Industry, Trade and Labor, empowered by the Law for the Encouragement of Industrial Research & Development -- 1984 (R&D Law), oversees all Government sponsored support of R&D in the Israeli hi- tech and bio-tech industries. This broad-spectrum support stimulates the development of innovative state-of-the art technologies, enhances the competitive power of the industry in the global high-tech market, creates employment opportunities and assists in improving Israel's balance of payments. |
