Following the achievements of the project, the Innovation Authority will grant an additional budget to promote the activities of the national association CRISPR-IL, in which Pluristem leads the pharmaceutical group and within which it works in collaboration with other leading parties in the field of genome editing in industry and academia
Pluristem Therapeutics (Pluristem Therapeutics.), (Nasdaq:PSTI) (TASE:PSTI), announced today that it received approval for another grant from the Innovation Authority, to support research based on the PLX platform developed by it.
The grant was given as part of the company's work as part of its membership in the national association CRISPR-IL, which is funded by the Innovation Authority through the Bio-Convergence program. The Innovation Authority approved a new budget for the association, which will allow it to continue its work for an additional 18 months ("Period B") - this after evaluating its activities and results in the previous 18 months ("period one"). Within the new budget, Pluristem is expected to receive an amount of approximately NIS 1,800,000, which will be used to continue the development of the next generation of PLX cells based on the use of CRISPR technology and genetic programming of cell functions in future allogeneic products.
As the leader of the pharma working group in Maged, Pluristem works in collaboration with other leading parties in the field of genomic editing, in industry and academia, and experts in life sciences and computer science, in academia, medicine and industry, with the aim of developing comprehensive solutions, based on artificial intelligence (AI), for genomic editing of various species, End to end. These solutions are expected to maximize the efficiency and accuracy of genomic editing using CRISPR technology in human, plant and animal DNA, with applications in the pharmaceutical, agricultural and aquaculture industries.
CEO and President of Pluristem, Yaki Yanai, said: "The evaluation of the CRISPR-IL consortium's work in the last 18 months has been successfully completed. The Innovation Authority's ongoing investment in Pluristem's share of the activity will enable the development of the next generation of cell-based allogeneic therapies. We continue to believe that the combination of CRISPR technology and our PLX platform holds great potential for the development of future treatments, and the budgetary support of the Innovation Authority confirms this belief." CRISPR is a genomic editing technology for changing DNA sequences, which enables the development of unique biotechnological products and innovative treatments, while developing The costs and durations required for the development processes.
