Pluristem Therapeutics Enters into Cell Thawing Device License Agreement with Chart Industries, Inc.
December 04 2018 - 7:00AM
Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PSTI), a leading
regenerative medicine company developing novel placenta-based cell
therapy products, today announced that it has entered into a
license agreement with a subsidiary of Chart Industries, Inc.
regarding Pluristem’s thawing device for cell-based therapies. Per
the terms of the agreement, Chart obtains the exclusive rights to
manufacture and market the thawing device in all territories
worldwide, excluding China, with Pluristem receiving royalties from
sales of the product and supply of an agreed number of
devices.
Pluristem’s point-of-care thawing device
technology is designed to allow for the precise and automated
thawing of cells in a controlled and monitored environment, and is
expected to result in the highest levels of cell viability and
quality. The technology includes many advanced unique proprietary
features which were designed to result in the leading thawing
devices on the market.
“Regenerative medicine and cellular therapies
products are making significant progress towards market, and we
need to make sure the enabling tools are in place. In order to get
the best clinical efficacy outcome we need a full control of the
cold chain, including, most importantly, the most effective method
of thawing of cells before treatment of patients,” said Yaky Yanay,
Co-Chief Executive Officer and President of Pluristem. “We are
extremely pleased to have Chart Industries, Inc., a global leader
in cryogenic equipment, as our marketing and manufacturing partner,
and look forward to working with Chart to bring our thawing device
technologies to clinical centers and labs across the globe.”
“For more than 50 years, Chart Industries, Inc.
has been a leading innovator in the cryogenic freezing and storage
of biological materials that are critical to the life sciences
industry, including human tissue, cord blood, bone marrow and stem
cells,” said Buzz Bies, Vice President and GM Chart Inc. – Cold
Storage Sales. “I believe Pluristem’s best-in-class cellular
thawing device is a perfect complement to Chart’s portfolio of
solutions, and we look forward to offering this technology to our
customer base worldwide.”
About Chart Industries, Inc.
Chart is a leading diversified global manufacturer of highly
engineered equipment for the industrial gas, energy, and biomedical
industries. The majority of Chart's products are used throughout
the liquid gas supply chain for purification, liquefaction,
distribution, storage and end-use applications, a large portion of
which are energy-related. Chart has domestic operations located
across the United States and an international presence in Asia,
Australia, Europe and Latin America. For more information,
visit: http://www.chartindustries.com.
About Pluristem
TherapeuticsPluristem Therapeutics Inc. is a leading
regenerative medicine company developing novel placenta-based cell
therapy products. The Company has reported robust clinical trial
data in multiple indications for its patented PLX 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 StatementThis 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. The 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:
Efrat KaduriHead of Investor and Public
Relations972-74-7108600efratk@pluristem.com
Karine Kleinhaus, MD, MPHDivisional VP, North
America1-914-512-4109karinek@pluristem.com
Pluristem Therapeutics (NASDAQ:PSTI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pluristem Therapeutics (NASDAQ:PSTI)
Historical Stock Chart
From Sep 2023 to Sep 2024