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Chief Scientist’s Office spared budget ax

The budget of the Chief Scientist’s Office will be cut by only 5 million shekels to 6 million shekels ($1.36 million-$1.63 million), as part of the 2% across-the-board spending cuts to pay for Operation Protective Edge. The agency had feared a belt-tightening of 30 million shekels to 40 million shekels. The agency, whose annual budget is 1.5 billion plus annual supplements, was spared when the Economy Ministry, to which it belongs, was spared a reduction of 100 million shekels to its total budget. Most of the 100 million shekels will come from Finance Ministry reserves, limiting the impact on spending to encourage economic growth. (Ora Coren)

Atox Bio gets contract to develop treatment for flesh-eating bacteria

The Nes Tziona-based Atox Bio, a developer of therapeutics for severe infections, said on Monday it won a contract worth up to $24 million from an agency in the U.S. Department of Health and Human Services. The contract is for the development of the company’s lead product, AB103, to treat necrotizing soft tissue infections — commonly called “flesh-eating bacteria” — and potentially, infections caused by biothreats and public health threats that result in sepsis. Biomedical Advanced Research and Development Authority awarded the contract to Atox Bio for $4.4 million over 18 months. Option periods, if exercised by BARDA, would bring the total to $24 million. The contract covers manufacturing, regulatory activities and a clinical trial. (Reuters)

365 Scores scores $5.5m in new funding

Israeli app developer 365 Scores announced Monday it had $5.5 million in new investments from LETA Capital, Cedar Fund, Titanium Investments and private investors. The company’s flagship application, called 365scores, sends alerts to sports fans. The app, which has been downloaded by more than five million Android users, sends over two billion push notifications a month to users. News is available on 10 different sports, in 20 languages. Last week the company released a version for Android tablets. “Our product is a one-stop shop for sport fans,” said 365 Scores CEO and cofounder Ami Sirkis. (Inbal Orpaz)