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Pluristem Life Systems Completes $1.5 Million Private Placement Equity Investment |
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Haifa, Israel –
January 21, 2004 – Pluristem Life Systems, Inc. (OTC BB: PLRS),
a biotechnology company dedicated to the expansion of stem cells
from umbilical cord blood to address a myriad of fatal
illnesses,
today announced that the Company consummated a private placement equity investment with a group of individual and institutional investors representing gross proceeds to the Company of $1.5 million.
The investors who participated in this equity transaction look forward to the great opportunities and potential arising from Pluristem's proprietary stem cell expansion technology.
“We are delighted and very encouraged by this funding which will allow Pluristem to continue to progress with the development of its technology, to move forward with our plans for animal model and preclinical trials, to expand the Company’s infrastructure to accommodate anticipated growth and to enter into joint ventures with our science and business partners,” stated Dr. Irit Arbel, CEO.
“Additionally, the growing interest in the investment community in our technology and its potential as a life-saving tool for treating blood and immune system diseases is extremely gratifying,” Arbel concluded.
For more information, visit the Company’s website at www.pluristem.com.
About Pluristem Pluristem is a biotechnology company dedicated to the development of adult stem cell expansion technology (not to be confused with embryonic stem cells). The Company is concentrating on the expansion of cord blood hematopoietic stem cells (blood and immune system cells) to provide vital stem cell expansion services to blood banks and transplants centers in the U.S. and Europe.Safe Harbor Statement"Statements in this document that are not purely historical are forward-looking statements. Forward-looking statements in this release include statements regarding our developing stem cell technology into a useful product, our moving forward with our plans for animal model and preclinical trials, our plans to expand the Company's infrastructure to accommodate anticipated growth and plans to enter into joint ventures with our science and business partners. Actual outcomes and our actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to further finance the plans, unforeseen technical difficulties in developing the stem cell technology, and inability to reach agreement with other parties, which could among other things, delay or prevent product development and our planned results. For further risk factors see the Company's 10-KSB filed with the SEC for our latest completed fiscal year."
Investors: Cynthia DeMonte DeMonte Associates 212-605-0525
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