Pfizer, AstraZeneca Selected To Establish New Innovation Lab
By NoCamels Team
December 30, 2020 2 minutes
The Israel Innovation Authority (IIA) and the National Digital Ministry have selected pharmaceutical companies Pfizer, AstraZeneca, Merck, and Teva to establish an Innovation Lab in order to research digital health and computational biology. The group will establish the lab at Rehovot Science Park.
The companies will join the Israel Biotech Fund and Amazon Web Services (AWS) to “assist early-stage entrepreneurs and startups to meet the challenges of the healthcare industry,” an IIA announcement said.
The lab is scheduled to open in 2021 and will join existing innovation labs as part of the Israel Innovation Authority’s Innovation Lab Program. It was awarded a government budget of NIS 32 million ($9.9 million), as well as additional financing from the winning group’s partners. The group was awarded a five-year operational franchise, and the IIA and National Digita
The Israel Innovation Authority (IIA) and the National Digital Ministry have selected Pfizer, AstraZeneca, Merck, and Teva to establish an Innovation Lab to research digital health and computational biology. The companies, which join the presence of the Israel Biotech Fund and Amazon Web Services (AWS), will establish the laboratory at Rehovot Science Park to help entrepreneurs and startups meet the challenges of the healthcare industry.
The lab is scheduled to open in 2021 and will join existing labs as part of the program initiated by the IIA. In total, it will have a government budget of NIS 32 million ($9.9 million) as well as additional funding from the group’s partners. The group was awarded a five-year operational franchise and the IIA and National Digital Ministry will finance 85% of a NIS 3 million ($1 million) budget for each startup that joins the lab.