Monday, April 16, 2007

Michael J. Fox Parkinson's Foundation invests in Israeli Foundations

Michael J. Fox Foundation puts faith in Israeli Parkinson's research
By Laura Goldman
April 15, 2007

Two Israeli companies working on treatments for Parkinson's Disease have been awarded grants by the Michael J. Fox Foundation. Cell Cure Neurosciences and Proneuron Biotechnologies were awarded $660,000 and $430,000 respectively under a new program started by the foundation to recognize that breakthrough research is being done in industry.

"Can you believe it? Two out of the 10 companies that received a grant under the therapeutic development initiative came from Israel," said Karen Leeds, development officer at the Fox Foundation. "The competition was stiff. More than 70 companies from all over the world applied."

These two small Israel biotech companies successfully competed with industry giants like Wyeth Pharmaceuticals. In fact, Cell Cure received the largest grant awarded by the foundation under this initiative.

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