HAIFA, Israel--(BUSINESS WIRE)--March 3, 2004--Pluristem Life Systems, Inc. (OTCBB:PLRS - News), a biotechnology company dedicated to the expansion of stem cells to address a myriad of fatal illnesses, today announced that the Company has initiated an aggressive M&A plan targeting cord blood banks in the U.S.

The Company is presently in negotiations with more than one U.S.-based cord blood bank. The result of this type of acquisition would bring to Pluristem a synergistic business, revenue and profitability while the Company continues to meet milestones with its cord blood stem cell expansion technology utilizing its proprietary PluriX(TM) bioreactor.

Irit Arbel, CEO, stated, "With shareholder interests at the forefront, we contend that an acquisition of a revenue-producing cord blood bank would be very advantageous. We are in negotiations presently and hope to consummate a transaction as soon as all due diligence has been completed."

About Pluristem

Pluristem is a biotechnology company dedicated to the development of stem cell expansion technology. Pluristem's core technology is designed to expand hematopoietic stem cells for bone marrow transplantations using the PluriX(TM) bioreactor. The unique quality of the PluriX(TM) Bioreactor is its ability to create a 3-D microenvironment that closely resembles the structure and function of the natural bone marrow environment. Upon successful development and regulatory approval, this technology should provide critical stem cell expansion services to cord 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 that could address fatal illnesses, that our system can support the growth and reproduction of stroma cells to allow the expansion of hematopoietic stem cells from Cord Blood and that the PluriX bioreactor system creates a 3-D artificial physiological environment in which the stem cells can be expanded to quantities large enough for several adult transplants. 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 complete its obligations under the stem cell license agreement, inability to finance the planned development of the technology, inability to obtain regulatory approval for commercial use of our products and unforeseen technical difficulties in developing the stem cell technology, which could among other things, delay or prevent product release. For further risk factors see Pluristem's filings with the SEC.
 

Source: Pluristem Life Systems, Inc.