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Pluristem Strengthens Business Strategy Company to Focus on
Commercializing Cell Therapy Products
Monday March 6, 1:50 pm ET |
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HAIFA, Israel--(BUSINESS WIRE)--March 6, 2006--Pluristem Life Systems,
Inc. (OTCBB:PLRS - News), a biotechnology company dedicated to the
commercialization of cell therapy products, today announced that the
Company is changing its business strategy. Instead of working towards
the goal of licensing out the use of its proprietary bioreactor-enabling
technology, the company plans to develop cell therapy products that can
be marketed on a for-sale basis. The company expects its first products
to be cell grafts that will provide an efficient and superior
alternative to the standard procedure of bone marrow transplantation (BMT).
Zami Aberman, President & CEO stated, "My belief is that aiming towards
marketing actual cell therapy products, rather than towards only
developing the enabling tools for the production of cell products will
provide Pluristem with added value. The market for cell-based products
is enormous and only the tip of the iceberg has until now been
uncovered."
The potential of the bone marrow transplantation market is currently
estimated at an annual expenditures of $5 billion and the
cardio-vascular market for cell-based products is estimated to exceed
$30 billion, according to the published research of Fraunhofer
institute, Karlsuhe, Germany dated April 2003
Pluristem's R&D program currently is focused on advancing the company's
cell expansion technology which has the unique ability to mimic
different naturally-occurring physiological environments.
"The development of an environment that mimics natural bone marrow
environment is currently being pursued for application to the expansion
of cord blood cells to be used in bone marrow transplants," said Aberman.
"We plan other developmental efforts towards the creation of additional
cellular solutions to severe clinical problems. I'm sure this strategy
change will benefit our share holders."
Pluristem's patented bioreactor technology has demonstrated unique
expansion capabilities of two independent stem cell types: Mesenchymal,
which are abundantly present in human adult tissues like fat or placenta
and Hemopoietic. When propagated in Pluristem's spatially controlled
environment without the use of supplemental cytokines and growth
factors, these cells have a unique range of therapeutic promise that
hold the potential to save millions of lives.
For more information visit our website at www.pluristem.com.
Safe Harbor Statement
This press release contains statements, which may constitute
"forward-looking statements". Those statements include statements
regarding the intent, belief or current expectations of Pluristem Life
Systems, Inc., and members of our management as well as the assumptions
on which such statements are based. Forward-looking statements in this
release include statements that include Pluristem's intention to market
actual cell therapy products, the size of the bone marrow
transplantation market and the cardio-vascular market for cell-based
products, our plan for developmental efforts towards the creation of
additional cellular solutions to severe clinical problems, and that our
methods have a unique range of therapeutic promise that hold the
potential to save millions of lives. Factors which may significantly
change or prevent our forward looking statements from fruition include
that we may be unsuccessful in developing any products; that our
technology may not be validated as we progress further and our methods
may not be accepted by the scientific community; that unforeseen
scientific difficulties develop with our process; that our patents are
not sufficient to protect essential aspects of our technology; that
competitors may invent better technology; that our products may not work
as well as hoped or worse, that our products may harm recipients; and
that 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.
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Contact:
Pluristem Life Systems, Inc.
Yossi Keret, ++972-54-800-8404
Yossi@pluristem.com
or
www.pluristem.com. |
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