Israeli Government to Support Pluristem’s Marketing Activity in China – Ministry of Economy Awards Company “Smart Money...
August 09 2017 - 7:00AM
Pluristem Therapeutics Inc. (NASDAQ:PSTI) (TASE:PSTI), a leading
developer of placenta-based cell therapy products, today announced
that it has been awarded a “Smart Money” grant from Israel’s
Ministry of Economy and Industry to help penetrate the Chinese
market, including Hong Kong, with its advanced cell therapy
products.
The Smart Money program’s aim is to help
companies expand their business to growing international markets.
The Israeli government will fund half of Pluristem’s marketing
activities in the China-Hong Kong markets, with certain
limitations, supporting promotion of the company’s advanced cell
therapy products. Pluristem will also receive close support from
Israel’s trade representatives stationed in China, including Hong
Kong, along with experts appointed by the Smart Money program.
“We are grateful for the Israeli government’s
generous support, which will help us introduce our cell therapy
products to key markets such as China and Hong Kong,” stated
Pluristem President and Co-CEO Yaky Yanay. “In the last two years,
we have been very active in Asian markets, and strong governmental
support is important in helping us continue building these
relationships and potential partnerships. The recent changes in the
Chinese Food and Drug Administration (CFDA) guidelines, which
accelerate the regulatory approval process for regenerative
medicine technologies, represents an opportunity for Pluristem and
its strategic partners to address the needs of Asia’s rapidly
growing healthcare market and aging populations. Economic and trade
activity between Israel and China is reaching new heights,
fostering increased partnerships between the Israeli hi-tech sector
and Chinese companies. We are honored to be part of these growing
partnerships and to contribute to both countries. We look forward
to providing better treatment options for millions of patients
worldwide.”
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 conducting
late-stage trials in several indications. The PLX 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, we are using forward-looking statements when we discuss
the funding and assistance Pluristem will receive through the Smart
Money program, our belief that PLX cell therapy products have the
ability to play an important role in addressing the needs of Asia’s
rapidly growing healthcare markets and aging population and our
looking forward to providing better treatment options for millions
of patients worldwide. 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; we may
encounter delays or obstacles in launching and/or successfully
completing our clinical trials; our products may not be approved by
regulatory agencies, 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; our products may wind up being more expensive than we
anticipate; 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; our patents may not be sufficient; our 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
Pluristem Therapeutics (NASDAQ:PSTI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Pluristem Therapeutics (NASDAQ:PSTI)
Historical Stock Chart
From Apr 2023 to Apr 2024