| 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 that its fully owned subsidiary Pluristem
Ltd has received a competitive research and development grant of about
$830,000 from Israel's prestigious Chief Scientist Office (CSO).
Pluristem Chairman and CEO, Mr. Zami Aberman commented, "We are excited
that the CSO is supporting PLX development for the second year and proud
they decided to support the development of PLX for additional clinical
indications targeting a potential market of $30 billion."
The 3% royalty-bearing grant is part of the Government's Ministry of
Trade and Industry program that offers incentives to high-tech companies
for research, and development. The monies were designated by the CSO to
further develop Pluristem's first planned product, PLX-BMT, which targets
a $2 billion market and is intended to resolve the global shortfall of
matched tissue for bone marrow transplantation. The grant will support
Pluristem's goal to explore the use of our placental expanded
mesenchymal stem (PLX) cells for other 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 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
first planned product, PLX-BMT, which targets a $2 billion market and is
intended to resolve the global shortfall of matched tissue for bone
marrow transplantation. The grant will support Pluristem's goal to
explore the use of our placental expanded mesenchymal stem (PLX) cells
for other clinical indications; That the grant will support the
development of PLX for additional clinical indications targeting a
potential market of $30 billion 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
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