Our objective is to establish CureTech as a leader in the development and commercialization of innovative cancer therapies. In accordance with this business strategy a collaboration with Teva Pharmaceutical Industries Ltd. has been established in May 2006. Under this agreement, Teva Pharmaceutical Industries invested in CureTech an initial amount of $6 million.In August 2008 this agreement has been modified with Teva agreeing to invest additional $10.5 million. These funds will support the ongoing clinical development of CT-011. The agreement stipulates that given certain conditions, Teva will have an option to further invest in CureTech up to additional $25 million to support further development of CT-011 for at least two clinical indications.