VBL Therapeutics Awarded $2.5 Million Non-Dilutive Grant by the Israel Innovation Authority
Vascular Biogenics Ltd. - Ordinary Shares (VBLT)
Last vascular biogenics ltd. - ordinary shares earnings: 11/14 07:00 am
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Source: GlobeNewswire
TEL AVIV, Israel, April 09, 2018 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq:VBLT) today announced that it has been awarded a grant of 8.9 million New Israeli Shekels (approximately $2.5 million) by the Israel Innovation Authority (IIA). The funds will support the development of the Company’s lead candidate VB-111 and its Vascular Targeting System (VTS™) platform for therapeutic gene therapy. The Company’s lead VTS candidate, ofranergene obadenovec (VB-111), is a targeted anti-cancer gene-therapy agent currently under investigation in the Phase 3 OVAL Study for platinum-resistant ovarian cancer, with potential for additional solid tumors. "The IIA’s continued support underscores the confidence the Authority has in our lead candidate VB-111,” said Prof. Dror Harats, Chief Executive Officer of VBL Therapeutics. “The $2.5 million grant, in addition to the more than $50 million in cash at December 31, 2017, will enable us to continue the development of VB-111 and our other pipeline
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