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Pluristem Receives $470,000 Grant From Israeli Government to Further Develop PLX-I Stem Cell Product Pluristem Life Systems, Inc. (OTCBB:PLRS) announces that its fully owned subsidiary Pluristem Ltd received a $470,000 grant from Israel's prestigious Chief Scientist Office (CSO). The royalty-bearing grant is part of the Government's Ministry of Trade and Industry program that offers incentives to high-tech companies for capital investment, scientific research and development. The monies were designated by the Chief Scientist Office to further develop first-time-recipient Pluristem's stem cell product PLX-I, a breakthrough potential solution that could be used to replace the traditional bone marrow transplant search and match process.
Zami Aberman, CEO of Pluristem states, "We are excited that the CSO has recognized us as a leader in stem cell technology and proud they decided to support the development of PLX I. The grant will help us to complete additional animal studies and human clinical trials. PLX-I could then be offered to the medical community positioning Pluristem to capture a significant share of the $5 billion commercial bone marrow transplant market. It was always a privilege to be associated with such great technology and now to have the support of the government to bring it to market could add even more distinction to our advanced line of adult stem cell graft products."
About Pluristem
Pluristem Life Systems, Inc. is a life sciences driven company that is developing and commercializing stem cell expansion technology products for the treatment of severe blood disorders. The Company is discovering and developing cell-based therapeutics that utilizes adult stem cells that are expanded in a proprietary bioreactor mimicking different naturally occurring physiological environments. Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation. Its first adult stem cell product targets a critical global shortfall of matched tissue for bone marrow transplantation since bone marrow transplantation is often the only cure for patients suffering from leukemia, lymphoma, myeloma and many other hematological diseases. The Company has made a strategic decision to work only with adult stem cells since the practical use of embryonic stem cells is severely restricted by various religious, ethical and legal considerations http://www.pluristem.com/default.asp.
Safe Harbor Statement
This news 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 news release include: that Pluristem's stem cell product PLX-I is a breakthrough potential solution that could be used to replace the traditional bone marrow transplant search and match process, the grant will help us to complete additional animal studies and human clinical trials; that PLX-I could then be offered to the medical community positioning Pluristem to capture a significant share of the $5 billion commercial bone marrow transplant market. that the support of the government could add even more distinction to our advanced line of adult stem cell graft products; that Pluristem is developing and commercializing stem cell expansion technology products for the treatment of severe blood disorders; that we are discovering and developing cell-based therapeutics that utilizes adult stem cells that are expanded in a proprietary bioreactor mimicking different naturally occurring physiological environments; that Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation, and its first adult stem cell product targets a critical global shortfall of matched tissue for bone marrow transplantation since bone marrow transplantation is often the only cure for patients suffering from leukemia, lymphoma, myeloma and many other hematological diseases.
Factors which may significantly change or prevent our forward looking statements from fruition include that we may be unsuccessful in developing any products; that our technology may not be validated as we progress further and our methods may not be accepted by the scientific community; that we are unable to retain or attract key employees whose knowledge is essential to the development of our products; that unforeseen scientific difficulties develop with our process; that we are unable to complete animal studies on budget; that results in the laboratory do not translate to equally good results in real surgical settings; that our patents are not sufficient to protect essential aspects of our technology; that competitors may invent better technology; that our products may not work as well as hoped or worse, that our products may harm recipients; and that we may not be able 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.
Source: Business Wire
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Pluristem to Present at Biotech & Life Sciences Global Venture Congress in New York City Pluristem Life Systems, Inc. (OTCBB:PLRS) announces CEO Zami Aberman will speak at the 2006 Biotech & Life Sciences Global Venture Congress being held September 14 and 15 at Madison Square Garden, New York City. Aberman will describe how their PLX line of products has the potential to eliminate the current bone marrow transplant search and match process.
Dr. Gyan Parida, Chairman, Global Venture Congress commented, "We are pleased to feature Pluristem as one of our presenting companies at the Global Venture Congress. We consider Pluristem a company that is imminently fundable. They were chosen to be a featured presenting company because of their novel technology, history of raising private capital, and their ability to maximize the capital raised by bringing adult stem cells to the Phase I/II development stage. Very impressive and commendable, Pluristem has passed our rigorous screening process."
About Global Venture Congress
The Biotech & Life Sciences Global Venture Congress is designed to explore the frontiers of biotech & life sciences, address the venture capital landscape, identify current trends in innovation, learn scientific discoveries and discover cutting-edge Biotech and Life Sciences companies. Speakers are world renowned visionaries, carefully chosen active investors in Biotech and Life Sciences companies, founders/C-level executives of cutting edge Biotech companies and renowned thought leaders, movers and shakers of the biotech industry and analysts.
Pluristem Life Systems, Inc. is a life sciences driven company that is developing and commercializing stem cell expansion technology products for the treatment of severe blood disorders. The Company is discovering and developing cell-based therapeutics that utilizes adult stem cells expanded in a proprietary bioreactor mimicking different naturally occurring physiological environments. Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation. Its first adult stem cell product targets a critical global shortfall of matched tissue for bone marrow transplantation since bone marrow transplantation is often the only cure for patients suffering from leukemia, lymphoma, myeloma and many other hematological diseases. The Company has made a strategic decision to work only with adult stem cells since the practical use of embryonic stem cells is severely restricted by various religious, ethical and legal considerations.
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 statements: that Zami Aberman will be a featured speaker at the 2006 Biotech & Life Sciences Global Venture Congress; that Pluristem is developing and commercializing stem cell expansion technology products for the treatment of severe blood disorders, and is discovering and developing cell-based therapeutics that utilizes adult stem cells expanded in a proprietary bioreactor mimicking different naturally occurring physiological environments; that Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation, targeting a critical global shortfall of matched tissue for bone marrow transplantation. Factors which may significantly change or prevent our forward looking statements from fruition include that the Congress may not proceed; that Mr. Aberman may not be able to appear and speak for some reason; that we may be unsuccessful in developing any products; that our technology may not be validated as we progress further and our methods may not be accepted by the scientific community; that we are unable to retain or attract key employees whose knowledge is essential to the development of our products; that unforeseen scientific difficulties develop with our process; that results in the laboratory do not translate to equally good results in real surgical settings; that our patents are not sufficient to protect essential aspects of our technology; that competitors may invent better technology; that our products may not work as well as hoped or worse, that our products may harm recipients; and that we may not be able 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.
Emerson Gerard Associates, Inc. Media Contact Jerry Jennings, 561-881-7318 mediareply*emersongerard.com or Investors Yossi Keret, +972-54-800-8404 Yossi*pluristem.com
Source: Business Wire (September 5, 2006 - 6:31 AM EST)
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