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HAIFA, Israel--(BUSINESS WIRE)--March 24,
2005--Pluristem Life Systems, Inc. (OTC BB: PLRS -
News), a biotechnology company dedicated to the expansion of stem
cells from umbilical cord blood to address a myriad of fatal illnesses,
today announced that it received a Notice of Allowance from the U.S.
Patent Office for "Method of Producing Undifferentiated Hematopoietic Stem
Cells Using a Stationary Phase Plug Flow Bioreactor."
The patent allowance provides coverage to Pluristem's concept of creating
a three-dimensional bone-like environment that supports stem cell
expansion without differentiation.
Additionally, the patent allowance protects the concept and the mechanism
of action of the PluriX(TM) bioreactor. Unlike the two-dimensional
conditions and the suspension cultures utilized by most of our
competitors, Pluristem's technology mimics the three dimensional (3-D)
human bone marrow environment in order to achieve significant stem cell
replication without the utilization of artificial substances.
Pluristem's core technology is designed to expand Hematopoietic Stem Cells
(HSC), which are required for bone marrow transplants and are the only
cells that can reconstitute the hematopoietic system following bone marrow
transplantation. In the physiologically replicated culture of the
PluriX(TM) bioreactor, these early stage stem cells can grow and
self-renew without differentiating. Once a hematopoietic cell has
differentiated, it cannot repopulate and rebuild the patent's blood and
immune systems.
"This U.S. patent allowance represents a significant milestone for the
Company. It provides coverage for the concept of using Pluristem's
PluriX(TM) bioreactor for the expansion of HSC. We are actively moving
ahead in our lab as we work to change the world of bone marrow transplants
(BMT). Stem cell expansion has the potential to make BMT a more effective
therapy while also making it available to a broader patient population,"
stated Shai Meretzki, CEO and co-inventor of Pluristem's stem cell
expansion technology.
"This patent allowance is a signal event to our shareholders, the
investment community, and the broader research community. It better
positions Pluristem to actively pursue partnering relationships, and we
look forward to communicating the advantages of the PluriX(TM) system to
those audiences," stated Yossi Keret, Chief Financial Officer of
Pluristem.
The company holds issued patents in New Zealand, South Africa and
Australia. Pluristem has exclusive rights to the PluriX(TM) cell expansion
system under a licensing agreement with Technion Institute of Technology
and the Weisman Institute of Science.
About Pluristem
Pluristem is a biopharmaceutical company developing stem cell products for
cell regenerative therapy. Pluristem's platform for expanding stem cells
offers breakthrough technology and multiple product opportunities in many
therapeutic areas.
For more information, visit the Company's website at: www.pluristem.com.
Safe Harbor Statement
This press 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
release include statements regarding the company receiving a grant for our
patent, that the patent received will protect our intellectual property,
that our system has advantages over competitive systems, and that our
technology offers opportunities for therapeutic products. Actual outcomes
and our actual results could differ materially from those in such
forward-looking statements, as the patent may not be granted, if granted
it may be successfully challenged, competitors may invent better
technology, we may not have sufficient financing to develop our products,
and we may not be able raise funding 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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Contact:
For Pluristem Life Systems, Inc.
DeMonte Associates
Cynthia DeMonte, 212-605-0525
cdemonte@aol.com
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Source: Pluristem Life Systems, Inc.
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