Replies to post #181 on Given Imaging Ltd. (GIVN)

[midastouch017]

Given Imaging and Medigus to lead MAGNET consortium
The consortium will develop next-generation endoscopes.
Gali Weinreb 11 Jun 07 12:04
Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) and Medigus Ltd. (TASE:MDGS) will lead a consortium that will develop endoscopic devices, based on Given Imaging’s PillCam and Medigus’s endoscopes. The Office of the Chief Scientist will provide the consortium NIS 15 million for the first year under its MAGNET Program (Generic Pre-Competitive Technologies and Research and Development). Given Imaging will be responsible for NIS 4.1 million and Medigus for NIS 3.2 million.
Other members of the consortium are Rafael Armament Development Authority Ltd., SCD Semiconductor Devices Ltd., Applied Spectral Imaging Ltd., and Nanomotion Ltd., as well as the Weizmann Institute of Science, Technion Israel Institute of Technology, Bar Ilan University, Hebrew University of Jerusalem, Tel Aviv University, and Sheba Medical Center Tel Hashomer.

MAGNET program consortiums are created so that participating companies will combine their development capabilities on a particular subject with research institutes. One the basis of a consortium’s progress in its first year, the MAGNET committee will decide whether to continue supporting it for up to four more years.

Published by Globes [online], Israel business news - www.globes.co.il - on June 11, 2007