Pluristem Strengthens Its Position in Asia, Awarded Two New Patents in Hong Kong for Critical Limb Ischemia and Muscle Regene...
September 13 2017 - 7:00AM
Pluristem Therapeutics Inc. (NASDAQ:PSTI) (TASE:PSTI), a leading
developer of placenta-based cell therapy products, announced today
that the company has been issued two new patents by Hong Kong
Patents Registry for its cell therapy products relating to two of
the company’s leading indications, Critical Limb Ischemia
(CLI) and muscle regeneration.
The first patent addresses the use of
mesenchymal stem cells for the treatment of skeletal muscle damage
or injury. The second is for the use of adherent cells to treat
ischemia and for connective tissue regeneration and repair.
Pluristem holds over 100 patents globally,
including 19 approved patents in China and Hong Kong, that cover
various innovations, including the application of Pluristem’s
proprietary PLacental eXpanded (PLX) cells, to a wide variety of
medical indications like Intermittent Claudication (IC), CLI,
hematological disorders such as Acute Radiation Syndrome (ARS), and
recovery and repair of injured skeletal muscle.
The approval for the patents follows a recent
“Smart Money” grant from Israel’s Ministry of Economy and Industry
to support marketing activities in Hong Kong and China. Pluristem’s
progress in these markets reflects the company’s goal of offering
accessible cell therapy treatments to Asia’s growing healthcare
market.
“Receiving approval for these patents
strengthens our position in Asia, where we believe our PLX cells
can have a lasting and beneficial impact on the way millions of
patients are treated for prevalent medical conditions,” noted Yaky
Yanay, President and Co-CEO of Pluristem. “We view these patent
approvals as a vote of confidence in our innovative treatments and
intellectual property, as our cell therapies move closer to
commercialization.”
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. PLX cell products release a range of
therapeutic proteins in response to inflammation, ischemia, muscle
trauma, hematological disorders, and radiation damage. The cells
are grown using the Company's proprietary three-dimensional
expansion technology and can be administered to patients
off-the-shelf, without tissue matching.
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, Pluristem is using forward-looking statements when its
discusses that its strategy is to penetrate Asian markets and offer
accessible cell therapy treatments to patients, its belief that the
Asian continent’s aging populations and growing healthcare market
make it ripe for cell therapy treatments and its belief that PLX
cells can have a lasting and beneficial impact on the way millions
of patients are treated for prevalent medical conditions. 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; Pluristem may encounter delays or
obstacles in launching and/or successfully completing its clinical
trials; Pluristem’s products may not be approved by regulatory
agencies, Pluristem’s technology may not be validated as it
progresses further and its methods may not be accepted by the
scientific community; Pluristem 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
Pluristem’s process; Pluristem’s products may wind up being more
expensive than it 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; Pluristem’s patents may not be
sufficient; Pluristem’s products may harm recipients; changes in
legislation may adversely impact Pluristem; 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, MPHDivisional VP, North
America1-914-512-4109karinek@pluristem.com
Efrat KaduriHead of Investor and Public
Relations972-74-7108600efratk@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