| HAIFA, Israel--(BUSINESS WIRE)--Aug. 24, 2006--Pluristem Life Systems,
Inc. (OTCBB:PLRS
- News) announces
that its fully owned subsidiary Pluristem Ltd received a $470,000 grant
from Israel's prestigious Chief Scientist Office (CSO). The
royalty-bearing grant is part of the Government's Ministry of Trade and
Industry program that offers incentives to high-tech companies for
capital investment, scientific research and development. The monies were
designated by the Chief Scientist Office to further develop
first-time-recipient Pluristem's stem cell product PLX-BMT, a breakthrough
potential solution that could be used to replace the traditional bone
marrow transplant search and match process. Zami Aberman, CEO of
Pluristem states, "We are excited that the CSO has recognized us as a
leader in stem cell technology and proud they decided to support the
development of PLX I. The grant will help us to complete additional
animal studies and human clinical trials. PLX-BMT could then be offered to
the medical community positioning Pluristem to capture a significant
share of the $5 billion commercial bone marrow transplant market. It was
always a privilege to be associated with such great technology and now
to have the support of the government to bring it to market could add
even more distinction to our advanced line of adult stem cell graft
products."
About Pluristem
Pluristem Life Systems, Inc. is a life sciences driven company that is
developing and commercializing stem cell expansion technology products
for the treatment of severe blood disorders. The Company is discovering
and developing cell-based therapeutics that utilizes adult stem cells
that are expanded in a proprietary bioreactor mimicking different
naturally occurring physiological environments. Pluristem expects its
first products to be cell grafts that will provide an efficient and
superior alternative to the standard procedure of bone marrow
transplantation. Its first adult stem cell product targets a critical
global shortfall of matched tissue for bone marrow transplantation since
bone marrow transplantation 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 http://www.pluristem.com/default.asp.
Safe Harbor Statement
This news 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
news release include: that Pluristem's stem cell product PLX-BMT is a
breakthrough potential solution that could be used to replace the
traditional bone marrow transplant search and match process, the grant
will help us to complete additional animal studies and human clinical
trials; that PLX-BMT could then be offered to the medical community
positioning Pluristem to capture a significant share of the $5 billion
commercial bone marrow transplant market. that the support of the
government could add even more distinction to our advanced line of adult
stem cell graft products; that Pluristem is developing and
commercializing stem cell expansion technology products for the
treatment of severe blood disorders; that we are discovering and
developing cell-based therapeutics that utilizes adult stem cells that
are expanded in a proprietary bioreactor mimicking different naturally
occurring physiological environments; that Pluristem expects its first
products to be cell grafts that will provide an efficient and superior
alternative to the standard procedure of bone marrow transplantation,
and its first adult stem cell product targets a critical global
shortfall of matched tissue for bone marrow transplantation since bone
marrow transplantation is often the only cure for patients suffering
from leukemia, lymphoma, myeloma and many other hematological diseases.
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 we are unable to retain or attract key employees whose
knowledge is essential to the development of our products; that
unforeseen scientific difficulties develop with our process; that we are
unable to complete animal studies on budget; that results in the
laboratory do not translate to equally good results in real surgical
settings; 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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