Jul 9 2007, 8:00 AM EST
Business Wire
Pluristem Life Systems, Inc. (OTCBB:PLRS) (DAX:PJT), a bio-therapeutics Company dedicated to the commercialization of products for a variety of malignant, degenerative and auto-immune indications, announced today that it has entered into a Collaborative Research Agreement with the Berlin-Brandenburg Center for Regenerative Therapy (BCRT) at Charite - University Medicine Berlin.
Pluristem and BCRT will collaborate on a variety of indications utilizing mesenchymal stem cells (MSCs) derived from the placenta that have been expanded in the Company's proprietary PluriX(TM) 3-D bioreactor. The initial focus of the collaboration will be on neurological indications such as Multiple Sclerosis and Parkinson's disease. The agreement also covers organ transplantation and cardiovascular indications such as inflammatory cardiomyopathy. Pluristem will be the exclusive owner of the technology and any products stemming from the collaboration.
Professor Hans Dieter Volk, MD, Director/ Chairman of BCRT at Charite commented, "The collaboration of BCRT, working with Pluristem and their proprietary PLX cells offers several exciting prospects. We believe Pluristem's cells can potentially result in beneficial therapies for a number of diseases."
The BCRT is a cooperative research institution of the Charite University Hospital in Berlin and Germany's largest research association, the Helmholtz Association. BCRT also receives generous financial support from the BMBF and the states of Berlin and Brandenburg, as well as from the Technology Foundations in Berlin and Brandenburg, the Future Fund Berlin and from various industry partners. More than 15 regional partners from science and industry are active members of the consortium at the BCRT.
"This cooperation is extremely important to us," commented Pluristem Chairman and CEO, Mr. Zami Aberman. "First, it corroborates our approach regarding the use of MSCs from the placenta and our PluriX(TM) technology to develop new therapeutic products for a variety of indications. In addition, the collaboration significantly enhances our approach to develop our pipe line of products."
About BCRT
The Berlin-Brandenburg Center for Regenerative Therapies (BCRT) was founded as a cooperative research institution of the Charite University Hospital in Berlin and Germany's largest research association, the Helmholtz Association. BCRT also receives generous financial support from the BMBF and the states of Berlin and Brandenburg, as well as from the Technology Foundations in Berlin and Brandenburg, the Future Fund Berlin and from various industry partners. The mission of the BCRT is to develop a translational platform for Regenerative Therapies from bench-to-bedside. The five clinical platforms -- Immune, muskuloskleletal, hepatic, neuronal, and cardiovascular system -- are cross-linked by technology platforms (basic science, bio-engineering, translational technologies). First clinical trials with cell therapy have been started.
www.b-crt.de
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.
www.pluristem.com
Safe Harbor Statement
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 "the Pluristem's cells can potentially result in beneficial therapies for a number of diseases; that the collaboration corroborates our approach regarding the use of MSCs from the placenta and our PluriX(TM) technology to develop therapeutic products for a variety of indication; that the corroborates our approach regarding the use of MSCs from the placenta and our PluriX(TM) technology to develop new therapeutic products for a variety of indications; that the collaboration significantly enhances our approach to develop our pipe line of products. 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.
