Saturday , October 20th 2018
 
       
 
Practice Areas
 
 
 

April 26, 2004 - New drug gets funding grant

Pharmos Corporation has been awarded a grant of up to $3.1 million by the Office of the Chief Scientist (OCS) of Israel's Ministry of Industry and Trade to help fund the company's development of dexanabinol. Approximately 93% of the funding is designated for the development of dexanabinol as a treatment for traumatic brain injury, currently in advanced phase III clinical testing with patient enrollment completed and results expected by year end.

The grant is available through fiscal year 2004 and is paid in direct relationship to actual expenditures made by the company in the designated programs.

"The grant, which is in line with our expectations, is important confirmation of our work with dexanabinol. We appreciate the support from the OCS especially in light of the agency's budgetary constraints," said Haim Aviv, PhD, chairman and chief executive officer.

Prior OCS grants to help fund various research and development projects totaled approximately $10.9 million at December 31, 2003. The company is required to pay royalties to the OCS ranging from 3% to 5% of product sales, if any, that result from the research activities conducted with such funds, up to the total amount of the grants.

Pharmos discovers, develops, and commercializes novel therapeutics to treat a range of indications, in particular neurological and inflammation-based disorders.


The above is not legal advice. That can only come from a qualified attorney who is familiar with all the facts and circumstances of a particular, specific case and the relevant law. See Terms of Use.

 
Contact Us
 

For questions about personal injury laws, fill out the form below or contact us by phone.

Law Offices of
Fuentes & Berrio.LLP

709 E. Hillsboro Blvd.
Deerfield Beach, FL 33441

(877) 354-LAWS
Toll Free
(954) 752-1110
Broward County
(305) 931-2002
Miami Dade
(561) 279-2424
Palm Beach
(352) 387-1000
Martin County
(954) 794-1212
Fax
If you would like to contact us or have us review your case, please fill out the form below.
 
 
 

Home | About us | contact us | newsletter | ESPAÑOL

Copyright © 2008 Fuentes & Berrio, L.L.P., All rights reserved | Developed by LawyerEdge