from the November 2006 issue

Technion to get $100 million for biomed research

Biomedical entrepreneur and philanthropist Alfred E. Mann has agreed to donate $100 million to establish a biomedical research institute at the Technion-Israel Institute of Technology.

The new research institute will concentrate on developing products based on the knowledge developed at the Technion in life sciences, biomedical engineering, and medical instruments and equipment fields. "The Technion's interdisciplinary nature allows for the melding of biomedicine and science with engineering and technology not possible at most universities," said Mann. "I'm confident this unique focus will make the institute a world leader, and a place that will help cure the diseases that plague mankind."

Mann has also decided to invest in Biomimic Pharma, a Haifa startup that uses technology developed at the Technion. Estimates are that the investment could reach $20 million.. Biomimic is working on development of a new technology for engineering of antibodies for fighting cancer cells and viral infections.

He is also considering establishing a facility to manufacture a product for treating diabetes on the Ben-Gurion University campus in Be'er Sheva.

Reprinted from the Israel High-Tech & Investment Report November 2006

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