Pharmos gets $1.3m chief scientist grant

About 50% of the funding is allocated for research and development expenditures within Israel and 50% is allocated for international expenditures for the fiscal 2006.

By SHARON WROBEL
April 11, 2006 08:09

 
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Rehovot-based therapeutics company Pharmos has received a $1.3 million grant from the Office of the Chief Scientist for the development of the company's drug treatment for moderate-to-severe pain indications, the CB2-selective platform of synthetic cannabinoids. About 50 percent of the funding is allocated for research and development expenditures within Israel and 50% is allocated for international expenditures for the fiscal 2006. A portion of the grant will be applied to late-stage preclinical and clinical costs for developing cannabinor, the company's lead CB2-selective drug candidate for the treatment of pain.

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