New Reality Solutions Health & Wellness (NRS H&W), the health arm of NRS, a US knowledge commercialization firm, is now commencing operations in Israel. Founded a decade ago, the New York-based consultant and investment company's principal shareholder and leading figure is Sam Salman, an American Jew who grew up in the UK. Most of the company's other shareholders are also Jews with an affinity to Israel. Salman has never done business in Israel before.
NRS's health division was founded only in 2015. Eli Mor, who joined the company last March as a managing partner, will manage its Israeli business. Mor was previously CFO of BioHarvest and sales manager at Terayon, a company controlled by Zaki Rakib.
NRS H&W engages in three types of business: agricultural research, molecular biology, and bioinformatics. "NRW concentrates on very large projects with a global impact," Mor says. "The company is not looking for niche solutions; it is interested in solutions affecting millions of people that require systematic thinking and the aid of major health and agricultural organizations and companies, such as Bayer, Syngenta, Unilever, and the like."
The company launched its activity in Israel today by signing a framework agreement with the Agricultural Research Organization, Volcani Center for establishing a joint venture. The Volcani Center, Israel's biggest agricultural research institution, helps farmers in Israel solve various agricultural problems and initiates, performs and supervises agricultural research involving genetic engineering.
"Globes": Tell us about this cooperative venture.
Mor: "NRW H&W began initial discussions about a joint venture with the Volcani Center two years ago. The process was completed today with the signing of a framework agreement to establish a joint venture for the two parties in which we will select which of the Volcani Center's projects we want to invest and take responsibility for. We will manage each project we select up until the commercialization stage."
How will you select the projects?
"We will choose those that are suitable for NRW H&W's vision and the values it represents. This includes treatment of highly contagious diseases, nutrition, the effect of agriculture on the environment, degenerative nerve diseases in the adult population, and management of infectious diseases. Every project will become a separate company, and we will invest from that point in the continuation of its development, and later in commercialization. When the commercialization stage is reached, the two parties will share the revenue."
Have you already selected projects?
"Yes, there are already several projects in which we are interested, and we are conducting intensive discussions about them. The Volcani Center already owns intellectual property in some of them. I estimate that we'll be with four or five companies within a year. We'll manage them in the first stage, and if necessary, we'll reinforce their management team by hiring managers from outside."
What does that mean in terms of investment?
"We plan to invest $30 million in our activity in Israel within three years, mainly in cooperation with the Volcani Center, and later with other entities."
Published by Globes [online], Israel Business News - www.globes-online.com - on January 12, 2017
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