NasVax is developing improved vaccines and immunotherapies for the treatment of graft rejection after transplantation, Streptococcus pneumoniae, and Alzheimer’s.
NasVax Ltd. (TASE: NSVX) has obtained provisional approval for NIS 3.5 million in grants for the Office of the Chief Scientist to finance 50% of the company's NIS 5.6 million development plan in Israel and 30% of the plan that will be carried out overseas.
If the grant is provided in full, NasVax will receive nearly NIS 1.7 million for its overseas R&D plan and almost NIS 1.8 million for its R&D in Israel.
NasVax is developing improved vaccines and immunotherapies for the treatment of graft rejection after transplantation, Streptococcus pneumoniae, and Alzheimer’s disease.
NasVax's share price fell 3% by mid-afternoon to NIS 1.05, giving a market cap of NIS 41 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2012
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