Benzinga | May 18, 2021 08:15AM EDT

Enlivex Says Awarded Second Israel Innovation Authority Grant To Support Clinical Development Of Allocetra In Sepsis; Says Grant Provides $1.1M In Funding

Enlivex Therapeutics Ltd. (NASDAQ:ENLV), a clinical-stage macrophage reprogramming immunotherapy company targeting diseased macrophages in patients with sepsis, COVID-19 and solid tumors, today announced that the Israel Innovation Authority (IIA) selected Enlivex's ongoing sepsis clinical program to receive a second non-dilutive grant of approximately $1.1 million for 2021. To date, Enlivex has received a total of approximately $6.6 million in non-dilutive grants from the IIA for clinical trials and product development, excluding this newly approved grant.

The IIA is an independent, publicly funded agency charged with fostering the development of industrial R&D within the State of Israel. It provides non-dilutive grants in the form of reimbursement for actual expenses pre-approved by the IIA. The grants become repayable only through royalties from future sales of products developed with the support of the IIA, and the repayment, if any, is limited to the original grant amount plus interest.

Enlivex is currently recruiting patients to its Phase IIb trial of AllocetraTM for the treatment of organ dysfunctions associated with sepsis.