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NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc.
(OTCBB:PLRS) (DAX:PJT),
a bio-therapeutics Company dedicated to the commercialization of
non-personalized (allogeneic) cell therapy products for a variety of
malignant, degenerative and auto-immune indications, announced today
that it intends to effect a 200 to 1 reverse stock split in conjunction
with an application, previously filed, to list its shares on the NASDAQ
Capital Market.
Mr. Zami Aberman, Pluristem’s President and
CEO, commented, “The NASDAQ application is
part of our strategy to strengthen Pluristem’s
financial position, broadening the availability of our stock to both
institutional and individual investors.”
About Pluristem
Pluristem Life Systems, Inc. is a Company dedicated to the
commercialization of non-personalized (allogeneic) stem cell therapy
products for the treatment of numerous severe degenerative, malignant
and autoimmune disorders. The Company's first product, PLX-BMT, is
directed at resolving the global shortfall of matched tissue for bone
marrow transplantation (BMT) by improving the engraftment of
hematopoietic stem cells (HSCs) contained in umbilical cord blood (UCB).
Pluristem's products are derived from mesenchymal stromal cells
(MSCs) obtained from the placenta and are not embryonic stem cells. They
are expanded in the Company's proprietary PluriXTM
3D bioreactor that imitates the natural microstructure of bone marrow
and does not require supplemental growth factors, cytokines or other
exogenous materials. Pluristem believes the resultant expanded cells,
termed PLX cells, are multi-potent and able to differentiate into a
variety of cell types as well as being immune-privileged to protect the
recipient from immunological reactions that often accompany
transplantation.
Pluristem has offices in the USA with research and manufacturing
facilities in Israel.
www.pluristem.com.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and federal securities laws. These
forward-looking statements are based on the current expectations of the
management of Pluristem only, and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. For example, when we
speak about our planned reverse stock split and our application to list
our shares on the Nasdaq Capital Market, we are using forward-looking
statements. We may not be approved for listing on Nasdaq. The following
factors, among others, could cause actual results to differ materially
from those described in the forward-looking statements: changes in
technology and market requirements; 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;
our products may harm recipients; changes in legislation; inability to
timely develop and introduce new technologies, products and
applications; loss of market share and pressure on pricing resulting
from competition, which could cause the actual results or performance of
Pluristem to differ materially from those contemplated in such
forward-looking statements. Except as otherwise required by law,
Pluristem undertakes no obligation to publicly release any revisions to
these forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events. For a more detailed description of the risk and uncertainties
affecting Pluristem, reference is made to Pluristem's reports filed from
time to time with the Securities and Exchange Commission.
For more information visit our website at
www.pluristem.com, the content of
which is not part of this press release. |
