Chief Scientist Approves Grant to Allergica

Chief Scientist Approves Grant to Allergica

November 28, 2006

Press Release



Allergica Ltd, a portfolio company of Bio-Light, has received the approval of the Chief Scientist’s office of the Israeli Ministry of Industry and Trade, for a scientific grant which will be used to support the company’s research and development of a drug to treat allergies. The budget for development of the drug stands at NIS 2.7 million, of which the Ministry will shoulder 40 percent of the cost of research and development activity that take place in Israel, and 30 percent of the costs of activity that take place abroad.

Dr. Yaffa Beck, CEO of Allergica said today, “Allergica is developing a unique treatment for allergy symptoms that characterize the most common allergic conditions, such as asthma, and skin irritation. This grant from m the Chief Scientist will assist the company in promoting the development of the treatment into a spray and cream form and move toward human trials.”