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NEW YORK--(BUSINESS WIRE)--
In the headline and last sentence of second graph of release, the word
"trails" should be replaced with "trials."
The corrected release reads:
PLURISTEM COMPLETES CONSTRUCTION OF ITS NEW GMP FACILITIES TO SUPPORT
PRODUCTION FOR CLINICAL TRIALS
Pluristem Life Systems, Inc. (OTCBB:PLRS)
(DAX:PJT), a leading bio-therapeutics Company dedicated to the
commercialization of non-personalized (allogeneic) cell therapy products
for a variety of malignant, Ischemic and auto-immune disorders,
announced today that it has completed the construction of its new
state-of-the-art GMP (Good Manufacturing Practice) facilities which are
designed to support the manufacturing process of the Company's PLX-BMT (PLacenta
eXpanded) cells for the upcoming Phase I clinical trials, in which PLX-BMT
will be used with cord blood as an alternative to bone marrow
transplantation. Additionally, these facilities will be sufficient to
enable large-scale commercial production of PLX cells.
"The completion of the construction of our GMP facilities is a major
milestone in our strategy for controlling the entire commercialization
process, from harvesting placental cells to the 3D expansion processes
of our PLX cells and product sales," said Zami Aberman, Pluristem's
President and CEO. "These facilities were designed to have the
flexibility to support both clinical trials and large scale commercial
production. This will provide us with the production capacity to support
our upcoming clinical trials, our research activities and pipeline of
new clinical indications."
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 not embryonic stem cells. They are
expanded in the Company's proprietary PluriX(TM) 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 facilities, which are designed to support the
manufacturing process of the Company's PLX-BMT (PLacenta eXpanded) cells
for the upcoming Phase I clinical trials and will be sufficient to
enable large-scale commercial production of PLX cells, we are using
forward-looking statements. We may not be able to support the
manufacturing process of the Company's PLX-BMT (PLacenta eXpanded) cells
for the upcoming Phase I clinical trials and our facilities may not be
sufficient to enable large-scale commercial production of PLX cells. 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.
Source: Pluristem Life Systems, Inc |
