Israeli group creating fund for drug research

The Israeli Life Sciences Industry group is helping set up a $300 million to $500 million initiative to spur the development of biotechnology and help finance drug research in the country. Chief Scientist Dr. Eli Opper says that the country is already in negotiations with multinational biotech companies to create development centers in Israel while the government is adding to the biotech/nanotech activities of Israel's universities. Care Capital partner Dr. Argeris N. Karabelas told the group that development collaborations with major companies were the best tool to engineering success in the field.

- read the report from Globes