The Israel-U.S. Binational Industrial Research and Development Foundation (BIRD) has approved $10 million in investments for joint R&D projects involving Israeli companies and their American partners. BIRD will invest these funds through its support in 12 new projects valued at over $34 million. Investments were approved by BIRD`s Board of Governor`s Meeting held in Washington DC. Three Israeli life sciences companies will be recipients of the grants:

1. A joint project of Proneuron Biotechnologies (Israel) and Craig Hospital (U.S.) to develop the first treatment method for repair of spinal cord injury. BIRD has invested $1 million in this project.
2. A joint project of Notal Vision (Israel) and The Humphrey Division of Carl Zeiss Ophthalmic Systems (U.S.) to develop a home monitoring device for the early diagnosis of Age-Related Macular Degeneration (AMD), a deteriorating eye disease that afflicts millions of aging individuals, primarily in Western countries. Early diagnosis of this disease enables early treatment and prevention of its progression to permanent loss of vision. Details on the amount of the grant were not made public.
3. A joint project of Glycominds (Israel) and Schott Glass Technologies (U.S.) to develop a new generation of Glycochips^TM for drug discovery and development. BIRD`s investment in this project was $1 million.

"Israel's technological excellence is a known standard, and it is in demand now more than ever," said Dov Hershberg, BIRD's Executive Director. "Israel has earned its admission ticket to the global village by virtue of its impressive successes with high valuations in the stock exchange, as well as its world leadership in the fields of science and advanced technologies."

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