October, 2015

PerSimiO Ltd. was awarded a government grant of approximately NIS 2.3 million (approximately USD 529K) from the Office of the Chief Scientist (OCS) at the Ministry of Economy of Israel.

The grant will be used to cover R&D expenses for a 12-month period to support further development and commercialization of the Company's proprietary orthopedic decision support system Simfini.

The OCS awards grants to companies from various industries in Israel to foster technological innovations. Recipient selections are based on multiple criteria including the uniqueness of a company's technology, and the potential market it addresses, plus the robustness of the company's business including financial position, R&D capabilities and management experience.