Tech Nation

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

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

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)



Automatic approval of subscriber comments.

$1 for the first month

Already signed up? LOG IN

Protesters demonstrating in front of the consulate general of Israel in New York last year.

Huge Gap Between Young, Old Americans' View on Israel-Palestine

Rep. Henry Cuellar attends a campaign event on Wednesday, in San Antonio, Texas.

AIPAC-backed Dem Declares Victory Against Progressive Challenger in Texas Runoff

Iranian President Ebrahim Raisi and Atomic Energy Organization of Iran chief Mohammad Eslami at an event for Nuclear Technology Day in Tehran, last month.

Prospects for Reviving Iran Nuclear Deal 'Tenuous' at Best, U.S. Envoy Says

A family grieves outside the SSGT Willie de Leon Civic Center following the mass shooting at Robb Elementary School in Uvalde, Texas on Wednesday.

Israeli PM Offers Condolences After Texas Gunman Kills 21 at Elementary School

U.S. President Joe Biden, this week.

Biden Decides to Keep Iran's Revolutionary Guards on Terror List, Says Report

ADL CEO Jonathan Greenblatt.

Progressive Jews Urge ADL Chief to Apologize for Calling Out Democratic Activist