JERUSALEM--(BUSINESS WIRE)--Lockheed Martin Israel Ltd. and Yissum Research Development Company Ltd., the technology transfer company of the Hebrew University of Jerusalem, announced today that they have signed an agreement to conduct joint collaborative research. The collaboration will focus on basic and applicable scientific research in areas such as Quantum Information Sciences and Material Sciences as well as in other areas of joint interest. Under this agreement, Lockheed Martin will have the option to purchase exclusive license to use any invention or product resulting from joint research endeavors. This partnership is a key element in both organizations’ ongoing commitment to industrial and academic growth in Israel.
At the signing ceremony, that took place at the Hebrew University’s Mt. Scopus campus, Yaacov Michlin, CEO of Yissum, stated: “We are very pleased to enter into this long term collaboration with a global security and aerospace leader such as Lockheed Martin. The framework agreement we signed today sets the ground for a wide range of potential areas of research collaboration between the two parties. Through supporting cutting-edge, innovative research of scientists at the Hebrew University, this partnership may result in exciting commercial products.”
Joshua Shani, Chief Executive of Lockheed Martin Israel, added: “This is another step in Lockheed Martin Israel’s long term plans to develop additional partnerships outside the defense market and partner with the industry and academia in Israel. We are enthusiastic to partner with Yissum and the Hebrew University and look forward to many joint productive projects.”
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s net sales for 2013 were $45.4 billion. www.lockheedmartin.com
Yissum Research Development Company of the Hebrew University of Jerusalem Ltd. was founded in 1964 to protect and commercialize the Hebrew University’s intellectual property. Products based on Hebrew University technologies that have been commercialized by Yissum currently generate $2 Billion in annual sales. Ranked among the top technology transfer companies in the world, Yissum has registered over 8,500 patents covering 2,400 inventions; has licensed out 750 technologies and has spun out 90 companies. Yissum’s business partners span the globe and include companies such as Syngenta, Monsanto, Roche, Novartis, Microsoft, Johnson & Johnson, Merck, Intel, Teva and many more. For further information please visit www.yissum.co.il.