| NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS
- News), a cell
therapy Company dedicated to the commercialization of cell therapy
products for a variety of indications, said that as of Friday, March 30,
2007 it has received $1.1 million from the exercise of approximately 15
million warrants at an exercise price of $0.075. This represents
exercise of more than 25% of Pluristem's outstanding listed warrants as
of March 30, 2007. Zami Aberman, Pluristem CEO, stated: "Our
shareholders continue to show support and confidence in our future. Our
stronger working capital position allows us to complete preparations for
our application to the Food & Drug Administration (FDA) to conduct
clinical trials for our first product, PLX-BMT, for Leukemia, planned
later this year. We will begin investigating the use of our PLX cells
for other disease indications and fund our previously announced intent
to enlarge our good manufacturing practices (GMP) compliant production
facility, supporting our goal to be a fully integrated pharmaceutical
company."
About Pluristem
Pluristem Life Systems, Inc. is life sciences driven Company that is
developing and commercializing stem cell expansion technology products
for the potential treatment of a variety of disorders. The Company is
discovering and developing cell-based therapeutics that utilizes adult
stem cells expanded in a three-dimensional proprietary bioreactor termed
the PluriX(TM) that mimics different naturally occurring physiological
environments. Pluristem expects its first product, PLX-BMT, will be
involved as an efficient and superior alternative to the standard
procedure of bone marrow transplantation (BMT). PLX-BMT is intended to
target a critical global shortfall of matched tissue for BMT since BMT
is often the only cure for patients suffering from leukemia, lymphoma,
myeloma and many other hematological diseases. The Company has made a
strategic decision to work only with adult stem cells since the
practical use of embryonic stem cells is severely restricted by various
religious, ethical and legal considerations.
www.pluristem.com
Safe Harbor Statement
This press release contains statements, which may constitute
"forward-looking statements" regarding our intent, belief or current
expectations. Forward-looking statements in this release, include that
our stronger working capital position allows us to complete preparations
for our application to the Food & Drug Administration (FDA) to conduct
clinical trials for our first product; PLX-BMT, for Leukemia, planned
later this year; that we will begin investigating the use of our PLX
cells for other disease indications; that we will fund our previously
announced intent to enlarge our good manufacturing practices (GMP)
compliant production facility supporting our goal to be a fully
integrated pharmaceutical company.
Factors that could prevent our forward looking statements from being
achieved include that we may be unable to get regulatory approval for
our products; we may be unsuccessful in developing any products; our
technology may not be validated as we progress further and our methods
may not be accepted by the scientific community; we may be unable to
retain or attract key employees whose knowledge is essential to the
development of our products; unforeseen scientific difficulties may
develop with our process; results in the laboratory may not translate to
equally good results in real surgical settings; our patents may not be
sufficient to protect essential aspects of our technology; competitors
may invent better technology; our products may not work as well as hoped
or worse, our products may harm recipients; and we may not be able raise
funds for development or working capital when we require it. As well,
our products may never develop into useful products and even if they do,
they may not be approved for sale to the public. For further risk
factors see the Company's latest 10-KSB filed with the SEC.
For more information visit our website at
www.pluristem.com
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