Pluristem Launches Co-CEO Structure and Appoints New CFO
March 29 2017 - 4:00PM
Pluristem Therapeutics Inc. (NASDAQ:PSTI), (TASE:PSTI), a
leading developer of placenta-based cell therapy products,
announced today two senior executive appointments to support the
company’s growth and ensure continued success as it enters advanced
stages of clinical development for its PLX products.
Yaky Yanay, President of Pluristem and formerly
Chief Operating Officer, will join current Chairman and Chief
Executive Officer Zami Aberman as Co-Chief Executive Officer and
retain his title of President of the company. Mr. Yanay will no
longer serve as the company’s Chief Financial Officer and Chief
Operating Officer. Mr. Yanay joined Pluristem in 2006 as Chief
Financial Officer and Secretary, before being promoted to Executive
Vice President in 2013 and then to President and Chief Operating
Officer in 2014. Previously, Mr. Yanay was the Chief Financial
Officer of Elbit Vision Systems, Ltd. He is also Co-Chairman of
Israel Advanced Technology Industries, the largest umbrella
organization representing Israel’s hi-tech and life science
industries and has served on its Board of Directors for three
years.
In addition, Erez Egozi has been appointed to
the position of Chief Financial Officer of the company. Previously,
Mr. Egozi served as the company’s Vice President of Finance and
Secretary. Prior to joining Pluristem, Mr. Egozi held several
senior financial positions at Verint Systems Inc. including senior
director of finance-worldwide finance controller of Verint's
Communications and Cyber Intelligence Solutions division. From 2003
to 2007, Mr. Egozi held several financial positions at Intel
Corporation. From 2000 to 2003, Mr. Egozi served as an auditor in
the hi-tech technology sector at Deloitte & Touche.
“It’s a very exciting time for Pluristem, as we
move forward in our mission to deliver PLX cell therapies to
patients suffering from severe conditions,” said Mr Yanay. “I look
forward to continue working with Zami to shape Pluristem’s
strategic direction and leverage our vast wealth of intellectual
property and innovation to bring the company closer to global
marketing for our products to provide much-needed treatments.”
“As we near the critical juncture of
pivotal-stage clinical trials for our cell therapy products,
broadening our expertise and experience at the senior-most level
will enable us to deliver even better results and opportunities for
the company, investors, and potentially many patients who can
benefit from our therapies,” noted Mr. Aberman.
About Pluristem
Therapeutics
Pluristem Therapeutics Inc. is a leading
developer of placenta-based cell therapy products. The company has
reported robust clinical trial data in multiple indications for its
patented PLX (PLacental eXpanded) cells and is entering late-stage
trials in several indications. The cell products release a range of
therapeutic proteins in response to inflammation, ischemia,
hematological disorders, and radiation damage. PLX cell products
are grown using the company's proprietary three-dimensional
expansion technology. They are off-the-shelf, requiring no tissue
matching prior to administration.
Pluristem has a strong intellectual property
position; company-owned and operated, GMP-certified manufacturing
and research facilities; strategic relationships with major
research institutions; and a seasoned management team.
Safe Harbor Statement
This press release contains express or implied
forward-looking statements within the Private Securities Litigation
Reform Act of 1995 and other U.S. Federal securities laws. For
example, the company is using forward-looking statements when we
discuss Pluristem entering advanced stages of clinical development
for its PLX products, leveraging Pluristem’s wealth of intellectual
property and innovation to bring Pluristem closer to global
marketing for its products and that broadening Pluristem’s
expertise and experience at the senior-most level will enable
Pluristem to deliver even better results and opportunities for the
company, investors and the potentially many patients who can
benefit from the company’s therapies. These forward-looking
statements and their implications are based on the current
expectations of the management of Pluristem only, and are subject
to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the
forward-looking statements. The following factors, among others,
could cause actual results to differ materially from those
described in the forward-looking statements: changes in technology
and market requirements; the company may encounter delays or
obstacles in launching and/or successfully completing its clinical
trials; the company’s products may not be approved by regulatory
agencies, the company’s technology may not be validated as it
progresses further and its methods may not be accepted by the
scientific community; the company may be unable to retain or
attract key employees whose knowledge is essential to the
development of its products; unforeseen scientific difficulties may
develop with the company’s process; the company’s products may wind
up being more expensive than the company anticipates; results in
the laboratory may not translate to equally good results in real
clinical settings; results of preclinical studies may not correlate
with the results of human clinical trials; the company’s patents
may not be sufficient; the company’s products may harm recipients;
changes in legislation; inability to timely develop and introduce
new technologies, products and applications; loss of market share
and pressure on pricing resulting from competition, which could
cause the actual results or performance of Pluristem to differ
materially from those contemplated in such forward-looking
statements. Except as otherwise required by law, Pluristem
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. For a more detailed description of the risks and
uncertainties affecting Pluristem, reference is made to Pluristem's
reports filed from time to time with the Securities and Exchange
Commission.
Contact:
Karine Kleinhaus, MD, MPH
Divisional VP, North America
1-914-512-4109
karinek@pluristem.com
Efrat Kaduri
Head of Investor and Public Relations
972-74-7108600
efratk@pluristem.com
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