Israel's biotech industry -- a scientific and entrepreneurial dynamo but starved for capital, infrastructure, and managerial experience -- is facing its existential dilemma. For some, the industry's current problems are merely a reflection of economic Darwinism; others are planning more radical financing innovations. Meanwhile, the relatively rich in Israel, some of the incubators like Clal, and especially the country's biggest company, Teva, are soaking up the available opportunities for relatively little money.
Maybe they had all been smoking something.
By January 2007, when Israel’s most watched biotech, Pharmos Corp., announced that its cannabis-derived IV cannabinor against postoperative pain...
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