BIRD - Israel-US Binational Industrial R&D Foundation to Invest $5.4 Million in Six New Projects

TEL AVIV, Israel, January 3, 2011 /PRNewswire/ -- During its meeting last week, the Board of Governors of the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation, approved $5.4 million of funding for six new projects between Israeli and American companies. In addition to the grants from BIRD, the projects will access private sector funding, boosting the total value of all projects to $15.4 million.

The BIRD Foundation promotes collaboration between Israeli and American companies in various technological fields for the purpose of joint product development. Specifically, the Foundation assists by locating strategic partners from each country, making the necessary introductions, and providing conditional grants of up to $1 million for approved projects.

    The approved projects are the following:

    - Altair Semiconductor and US Company will develop a high-performance,
      dual-mode communication device.

    - Civcom Devices and Systems Ltd and GigOptix Inc. will develop a low
      power module for next generation optical communications.

    - First Life Research, Inc. and Healthline Networks, Inc. will develop a
      web environment to analyze and present patient's drug usage. This new
      web based application will empower patients and also provide an
      additional research tool to health professionals.

    - HQL Pharmaceutical and Emerald BioStructures, will co-develop novel
      anti-microbial drug compounds against Gram-negative infectious microbes
      for which there are critical unmet medical needs for new therapies.

    - Nextar Chempharma and OsteoGenex will develop and formulate
      new molecules for localized bone building therapy.

    - Vaica Medical Ltd and MTS Medication Technologies Inc. will
      develop an automated medicine pill dispensing system thus helping in
      improving compliance, while providing accurate reporting to caregivers.

Dr. Eitan Yudilevich, Executive Director of the BIRD Foundation, commented: "the projects approved in this cycle reflect a trend towards personalization using advanced information and communication technologies. This trend is evident in sectors such as healthcare IT and entertainment, which require easier exchange of information and increased transparency. The approved projects have a great potential for global economic and social contribution."

Dr. Yudilevich thanked the co-Chairmen of the Foundation who are retiring after many years of service for their enourmous contribution to the success of the Foundation: Mr. Marc Stanley, former Deputy Director of NIST (National Institute of Standards and Technology) has been the U.S. co-Chairman for a decade, and Dr. Eli Opper, Chief Scientist of the Ministry of Industry, Trade and Labor, has been the Israeli co-chairman for nine years. He also wished success to the appointed Chief Scientist, Mr. Avi Hasson, who will begin his term on January 1, 2011 and will join BIRD's Board of Governors.

About the BIRD Foundation (http://www.birdf.com)

The BIRD (Binational Industrial Research and Development) Foundation works to encourage cooperation between Israeli and American companies in the various areas of technology, and provides free assistance in locating strategic partners from both countries for developing joint products. During its 33 years, the BIRD Foundation has invested in more than 800 projects, which have yielded direct and indirect revenues of about $8 billion.

    Contact:
    Eitan Yudilevich, Ph.D.
    Executive Director, BIRD Foundation
    Tel: +972-3-6988301
    [email protected]

SOURCE The BIRD (Binational Industrial Research and Development) Foundation