VBL Therapeutics Awarded $2.9 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, Feb. 20, 2019 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq: VBLT) (the “Company”) today announced that it has been awarded a non-dilutive grant of over 10 million New Israeli Shekels (approximately $2.9 million) by the Israel Innovation Authority (IIA) for 2019. The funds will support the continued development of the Company’s lead product candidate, VB-111, a first-in-class targeted anti-cancer gene-therapy agent. The Company is currently evaluating VB-111 in a potential registration study (OVAL) for the treatment of platinum-resistant ovarian cancer, with further plans to study VB-111 in additional solid tumor indications. "We are appreciative of the continued substantial support by the IIA of our VB-111 program, which is a vote of confidence in our lead product candidate and its clinical and market potential,” said Prof. Dror Harats, Chief Executive Officer of VBL Therapeutics. “This $2.9 million grant, combined with the more than $53 million in cash on our ba
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