AIT, a Petah Tikva, Israel-based biotech company, has completed a $1.25m in funding.
The company intends to use the capital to begin two clinical trials. Clalit Health Services, an Israeli health fund, through its Soroka Medical Center in Beersheba, Israel, and Mor Research Applications Ltd., will participate in research and clinical trials. The University of British Columbia in Vancouver, Canada, licensed the technology to the company.
Founded in 2011 by Mor Research Applications, which is involved in the management and commercialization of intellectual property for Clalit physicians, AIT specializes in the development of formulations based on nitric oxide (NO) for infectious lung diseases such as brochiolitis, cystic fibrosis, pneumonia, asthma, and influenza.