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Tuesday, 31 October 2017 08:22

Israel Innovation Authority approves support to the Company's R&D budget for 2017

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Israel Innovation Authority approves support to the Company's R&D budget for 2017

logo4footerHaifa, October 31, 2017, Bonus BioGroup (TASE: BONS.TA), an Israeli biotechnology company engaged in tissue engineering and cell therapy, and developing proprietary technology for growing live human bone grafts for implant in human patients, announces today that the Israel Innovation Authority (formerly: the Office of the Chief Scientist at the Ministry of Economy) has informed Bonus Therapeutics, a fully owned subsidiary of the Company, of granting support to its research and development program for 2017, with an approved budget of up to NIS 5,303,809.

Bonus BioGroup's research and development program includes, inter alia, continuing clinical trials for reconstruction and repair of missing bone tissue, through a single injection of live human bone graft manufactured by the Company, in areas suffering bone loss in the patient's body. The injectable bone graft was developed and is manufactured at the Company's laboratories, located at Matam Advanced Technology Park in Haifa, Israel.

The revolutionary breakthrough achieved by Bonus BioGroup in safe, rapid and efficient bone rehabilitation, through a single bone graft injection, manufactured by the Company, was successfully demonstrated (95% significance level) in all participants of the Company's first clinical trial for repairing maxillofacial bone deficiencies in the upper or lower jaw, regardless of sex, age and medical background. 
Concurrently to conducting the first clinical trial, Bonus BioGroup has developed a second generation of injectable bone graft, which is more advanced, reduces manufacturing time, with less human involving, at a reduced cost and with suitability for mass production.

Currently, Bonus BioGroup is conducting two clinical trials, both defined Phase I/II, with the clinical objectives of evaluating safety and efficacy of using the second generation of injectable bone graft, manufactured by the Company, as follows:
1. In September 2016, a second clinical trial began for filling bone void in the upper or lower jawbone;
2. In August 2017, a clinical trial began for filling critical bone voids in limbs – arms or legs.

Bonus BioGroup strives to be the first company in the world to introduce to the global bone rehabilitation market, estimated at approximately US$7.5b in 2017, a safe and rapid solution for filling bone deficiencies, through a single injection of live and growing individual bone graft, produced by the Company after having been grown in the laboratory from cells sampled from the patient.

The Company's manufacturing facility in Haifa produces a variety of cells from the patient's adipose (fat) tissue-derived cells, which are necessary for producing a live human bone graft. This population of cell types is cultivated in the Company's production laboratories, in controlled sterile conditions, on a three-dimensional, biodegradable scaffold carrier, in a unique environment simulating the conditions necessary for in vivo growth of human bone.

The process of producing the second generation of injectable live human bone graft is completed within just two weeks from sampling the patient's fat tissue.

Support of the Israel Innovation Authority to the Company's research and development program sums up to a grant equal to 40% of the approved budget, provided against an undertaking to pay royalties on all of Bonus Therapeutics' income until full repayment of the grant received from the Innovation Authority.

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