$1.9M Biotech Incubator To Be Opened In Israel

As part of the Israeli Office of the Chief Scientist’s effort to promote the Israeli biotech industry even further, a new incubator will be opened and financed in Israel. The companies who won the tender to establish the life sciences incubator were OrbiMed Advisors LLC, Johnson and Johnson and Takeda Pharmaceutical Co. Ltd., who formed the BioBoost consortium.

The incubator is planned to operate for at least eight years, receiving NIS 6.9 million (approx. $1.9 million) in funding over the first three years.