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Pluristem Closes on $13.5 Million Private Equity Investment Tuesday May 22, 7:30 am ET
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 it has closed on a private equity investment in the Company totaling approximately $13.5 million. The financing, which is a continuation of the investment announced on February 14, 2007, included as investors the Technion-Israel Institute of Technology and inventors who collaborated on the technology and whose patents were acquired by Pluristem.
ADVERTISEMENT Mr. Zami Aberman, CEO of Pluristem Life Systems stated: "The response to this capital raise was extraordinary and provides us with the financing we need to complete the development of our first product, PLX-I, and explore the use of our placental expanded mesenchymal stem (PLX) cells for other clinical indications. Our current capital position enables us to develop our business and take advantage of emerging opportunities. I am delighted that these new investors and the inventors of our basic technology have shown such great confidence in Pluristem."
Pluristem is developing PLX-I as a safe and effective alternative to bone marrow transplantation. PLX-I is an allogeneic product, based on supplementing hematopoietic stem cells (HSCs) contained in umbilical cord blood (CB) to improve the effectiveness of HSCs engraftment and shorten recovery times. PLX-I mesenchymal stem cells were proven to increase the engraftment of HSCs from CB by up to five fold in a pre-clinical study.
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-I, 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.
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 closing of this financing provides us with the financing we need to complete the development of our first product, PLX-I and explore the use of our placental expanded mesenchymal stem (PLX) cells for other clinical indications; that our current capital position enables us to develop our business and take advantage of emerging opportunities. 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.
Contact:
Pluristem Life Systems William Prather, 303-883-4954 Sr. VP Corporate Development bill*pluristem.com or Strategic Growth International, Inc. Richard Cooper, 212-838-1444 rcooper*sgi-ir.com or Segue Ventures LLC Craig Bird, 215-885-4981 CHBird*segue.biz or Investors' Message Board: http://**************.yahoo.com/group/Pluristem_IR/Posts: 304 | From: Arizona | Registered: Jul 2005
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Pluristem Acquires Patents and Technology for the Three Dimensional Expansion of Human Cells Tuesday May 22, 7:32 am ET
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 it has purchased patents for its innovative stem cell production technology from the Technion-Israel Institute of Technology (Technion) and the Weizmann Institute of Science (Weizmann) for approximately $2 million. The purchased patents replace a previous license agreement with Technion and Weizmann where Pluristem had exclusive rights to the technology in exchange for royalties.
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Pluristem Chairman and CEO, Mr. Zami Aberman commented, "By owning these patents exclusively, the Company not only gains full access to its IP portfolio, but also enables substantially more future financial returns as we have the sole right to sub-license our technology without the obligation to pay up to a 25% royalty fee. We believe that our revenues will be substantial in the coming years and this purchase will improve our margins as well as increase value for our shareholders. We intend to develop this technology platform into a functional stem cell production system for the treatment of a variety of indications; the first being a safe, effective and efficient alternative to bone marrow transplantation."
The technology covered under the agreement pertains to a three dimensional (3-D) bioreactor system known as PluriX(TM). This bioreactor creates an environment similar to natural bone marrow and enhances the expansion of mesenchymal stem cells that are obtained from the placenta, termed Placental eXpanded (PLX) cells. These resulting stromal cells are allogeneic and will not require HLA matching when used in transplant therapies. Using PluriX(TM), Pluristem estimates they can produce up to 1,000 patient doses per placenta at a significantly lower cost than current methods.
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-I, 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.
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 We believe that our revenues will be substantial in the coming years and this purchase will improve our margins as well as increase value for our investors; that we intend to develop this technology platform into a functional stem cell production system for the treatment of a variety of indications; that our first indication will be effective and efficient alternative to bone marrow transplantation; that PLX stromal cells are allogenic and will not require HLA matching when used in transplant therapies; that using PluriX(TM) we can produce up to 1,000 patient doses per placenta at a significantly lower cost than current methods. 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.
Contact:
Pluristem Life Systems William Prather, 303-883-4954 Sr. VP Corporate Development bill*pluristem.com or Strategic Growth International, Inc. Richard Cooper, 212-838-1444 rcooper*sgi-ir.com or Segue Ventures LLC Craig Bird, 215-885-4981 CHBird*segue.biz or Investors' Message Board: http://**************.yahoo.com/group/Pluristem_IR/
Source: Pluristem Life Systems, Inc.
Posts: 304 | From: Arizona | Registered: Jul 2005
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posted
11:56 11/26/2007 PLRS Pluristem Life Systems, Inc. Common Stock PSTI Pluristem Therapeutics, Inc. Common Stock 1-200 R/S **
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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