Tech Nation

Strauss weighing incubator for food technology; BrainStorm granted patent for Lou Gerig’s disease drug; Mobileye plans Wall Street IPO this year.

Haaretz
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Strauss Coffee accounts for about half the group's total sales.
Strauss Coffee accounts for about half the group's total sales.Credit: Bloomberg
Haaretz

Strauss weighing incubator for food technology

Strauss Group, whose products range from coffee to hummus, is considering developing a technology incubator devoted to innovative new products for the food industry, sources at the company said this week. If the company decides to go ahead with the plan, it will submit an application next month to operate the facility in the framework of the Economy Ministry’s Office of the Chief Scientist incubator program. That office has long sponsored incubators in high-tech, but more recently has expanded the program to support innovation in older industries, where Israel’s world-renowned technology abilities have not had much of an impact. The incubator would host startups developing new products, technologies and services for making and marketing food products. (Ora Coren)

BrainStorm granted patent for Lou Gerig’s disease drug

BrainStorm Cell Therapeutics said Monday the U.S. Patent and Trademark Office had granted it a key patent for its autologous stem cell technology used for the treatment of neurodegenerative diseases. Pending approval from the U.S. Food and Drug Administration, the company is preparing for a mid-stage Phase II trial in the United States with its NurOwn adult stem cell therapy. NurOwn is aimed at treating amyotrophic lateral sclerosis, popularly known as Lou Gehrig’s Disease, a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord. (Reuters)

Mobileye plans Wall Street IPO this year

Mobileye, a maker of anti-collision technology used by BMW and General Motors, is planning an initial public offering on Wall Street later this year, the Calcalist financial news website said Monday. According to Calcalist, Mobileye plans to raise about $500 million, gvaluing the company at up to $3 billion. Mobileye’s systems include a camera mounted on the windshield that monitors the road and issues warnings to the driver of potential hazards. Registered in the Netherlands, Mobileye was founded by chairman Amnon Shashua and CEO Ziv Aviram, each of whom hold 10% of the company, much of which they plan to offer for sale as part of the IPO, Calcalist said. (TheMarker Staff)

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