NeuroDerm Considering IPO on Tel Aviv Stock Exchange NeurDerm Ltd, a company that is working to develop trans-dermal patches for treating neurological diseases, is considering an IPO on the Tel Aviv Stock Exchange, Globes reports. NeuroDerm got its start with Ofakim Hi-Tech Ventures and thus far has raised $60 million, as well as a $1 million donation from actor Michael J. Fox, who has been a strong advocate for research and development of Parkinson's treatment ever since he was diagnosed with the disease.
ITL Optronics Subsidiary Wins $15M US Army Contract Fraser Volpe LLC, a subsidiary of ITL Optronics Ltd, has won a $15 million contract from the US Army, the company reports. Fraser Volpe has been contracted to supply electro-optic stabilized systems, which the US Army already employs for observation and target acquisition. Recently, Elbit Systems increased its share in ITL to 87.85% - the company's remaining shares are publicly held.
Layoffs Expected at Pelephone Pelephone Communications Ltd is expected to lay off dozens of employees in 2011, Globes reported. While all of Israel's three major cellular providers are expected to institute layoffs in the upcoming year, Pelephone was the first of the companies to make its plan to reduce its workforce public.
Hungary Hopes to Finish Emergency Dam by Tuesday Hungary said that it hopes an emergency dam constructed to contain a flow of toxic waste from an alumina plant will be completed by Tuesday, news outlets reported. Thus far, approximately a million cubic meters of toxic red mud has spilled into villages and water in western Hungary after a retaining wall at the plant was breached. The sludge has also begun leaking into the Danube River. Seven people have died and 123 injured as a result of the leak.
Google Tests Driver-Free Cars Google Inc. is conducting road tests of cars that can stop, start, and steer without a human driver. According to project manager Sebastian Thrun, the purpose of driverless cars is to help prevent accidents, create more free time, and reduce carbon emissions. While the vehicles are being tested, a person is always in the car to take over if needed and monitor the software.