The program is funded by a $6 million grant from the Pan Atlantic Group and Bioline R. Ex
Bioline R. Pharmaceutical Development Company. Ex. announced today at the ILSI Biomed Israel 2007 conference the launch of the Early Development Program - EDP, a new strategic initiative that will provide funding for the research and development of innovative drugs that are in the early stages of development. The program is funded by a $6 million grant from the Pan Atlantic Group ( A wholly owned subsidiary of FCMI Financial Corporation, a Canadian company controlled by the family of Albert D. Friedberg and his family) and Bioline R. X. The grant is added to the 9 million dollars that the Pan Atlantic Group invested in Bioline in a private fundraising in January of this year.
"We are pleased to inaugurate this program for the development of promising therapeutic research that is in the early stages of development. The program will allow us to both support and benefit from early research conducted at leading universities and research institutes," said Dr. Maurice Lester, CEO of Bioline R. Ex. "Also, the program will be another source of potential drugs for the company's drug pipeline, which currently numbers 14 drugs in various stages of clinical and pre-clinical development."
"We are excited that the preliminary development plan is underway," added Albert D. Friedberg, president of FCMI Financial. "We were looking for the best way to support groundbreaking research in the field of life sciences, and we believe that Bioline R. Ex. The best team to exhaust the medical and business potential that exists in the extraordinary research that takes place in academic institutions mainly in Israel, and also in other countries."
EDP combines groundbreaking research conducted in leading research institutions with the proven ability of Bioline R. Ex. Accelerate drug development up to the clinical stage and beyond. The program provides researchers and scientists with a unique opportunity to see how their inventions are rapidly progressing through the stages of the drug development process.
