| NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS
- News;
DAX:PJT), a bio-therapeutics Company dedicated to the commercialization
of products for a variety of malignant, degenerative and auto-immune
indications, announced today it has closed on a private equity
investment in the Company totaling approximately $13.5 million. The
financing, which is a continuation of the investment announced on
February 14, 2007, included as investors the Technion-Israel Institute
of Technology and inventors who collaborated on the technology and whose
patents were acquired by Pluristem. Mr. Zami Aberman, CEO of Pluristem
Life Systems stated: "The response to this capital raise was
extraordinary and provides us with the financing we need to complete the
development of our first product, PLX-BMT, and explore the use of our
placental expanded mesenchymal stem (PLX) cells for other clinical
indications. Our current capital position enables us to develop our
business and take advantage of emerging opportunities. I am delighted
that these new investors and the inventors of our basic technology have
shown such great confidence in Pluristem."
Pluristem is developing PLX-BMT as a safe and effective alternative to
bone marrow transplantation. PLX-BMT is an allogeneic product, based on
supplementing hematopoietic stem cells (HSCs) contained in umbilical
cord blood (CB) to improve the effectiveness of HSCs engraftment and
shorten recovery times. PLX-BMT mesenchymal stem cells were proven to
increase the engraftment of HSCs from CB by up to five fold in a
pre-clinical study.
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 planned product, PLX-BMT,
targets a $2 billion market and is intended to resolve 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 (CB).
Pluristem's products are derived from mesenchymal stem cells (MSCs)
obtained from the placenta and 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 multipotent 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 accompanies
transplantation. Pluristem believes their future products will
participate in the approximate $30 billion therapeutic and regenerative
cellular market.
Pluristem has offices and is incorporated in the USA with research
and manufacturing facilities in Israel.
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
closing of this financing provides us with the financing we need to
complete the development of our first product, PLX-BMT and explore the use
of our placental expanded mesenchymal stem (PLX) cells for other
clinical indications; that our current capital position enables us to
develop our business and take advantage of emerging opportunities.
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 to
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
Pluristem Life Systems
William Prather, 303-883-4954
Sr. VP Corporate Development
bill@pluristem.com
or
Strategic Growth International, Inc.
Richard Cooper, 212-838-1444
rcooper@sgi-ir.com
or
Segue Ventures LLC
Craig Bird, 215-885-4981
CHBird@segue.biz
or
Investors' Message Board:
http://finance.groups.yahoo.com/group/Pluristem_IR/
Source: Pluristem Life Systems, Inc. |
