JERUSALEM, May 29 (Xinhua) -- The Israel Innovation Authority (IIA) and the Ministry of Economy announced Wednesday to grant 25 million new shekels (6.91 million U.S. dollars) to innovative medical technology companies as a reward.
The grants are part of a research and development (R&D) program to support new and innovative medical technologies.
Enlivex company, headquartered in the city of Ness-Ziona in central Israel, was awarded the highest grant of 4 million new shekels to develop lifesaving immunomodulating cell therapies.
Israeli Minister of Economy Eli Cohen said that "in an effort to maintain Israel's position as a global leader in innovation, significant resources are being invested in the technologies of tomorrow, especially in the fields in which we enjoy a relative advantage."
Ami Applebaum, Chairman of the IIA, added that "alongside the flourishing field of information technology, we set a goal of developing our life sciences, based on Israel's world-leading scientific accomplishments and technological strengths."
