Pluristem and Abu Dhabi Stem Cells Center Sign MOU to Collaborate in the Development of Cell Therapies and Regenerative Medic...
August 17 2020 - 2:00AM
Pluristem Therapeutics Inc. (Nasdaq:PSTI)
(TASE:PSTI), a leading regenerative medicine company
developing a platform of novel biological therapeutic products,
announced today its subsidiary, Pluristem Ltd., has signed a
non-binding Memorandum of Understanding (MOU) with the United Arab
Emirates-based Abu Dhabi Stem Cells Center (ADSCC), a specialist
healthcare center focused on cell therapy and regenerative
medicine. Executives from both companies took part in a signing
ceremony held via video conference between Israel and the UAE. The
aim of the collaboration is to capitalize on each company’s
respective areas of expertise in cell therapies to deliver
regenerative medicine for the benefit not only of the citizens of
the UAE and Israel, but for humanity as a whole. The collaboration
between the parties was initiated by the Better Alternatives
advisory firm.
The parties have agreed to exchange research
results, share samples, join usage of equipment and testing, and
other essential activities related to advancing the treatment and
research of cell therapies for a broad range of medical conditions,
including COVID-19.
ADSCC has been treating COVID-19 patients with
stem cells sourced from the patient’s blood, by returning the cells
back into the patient’s lungs as a fine mist through a nebulizer, a
machine that helps a patient breathe in medicine through a mask or
mouthpiece. Pluristem has treated patients with its placental
PLX-PAD allogenic product via compassionate use programs in Israel
and the U.S. and is currently conducting phase II studies in the
U.S. and EU.
“We are extremely proud to partner with our
colleagues at the ADSCC by sharing knowledge and expertise that we
believe will advance healthcare within and across our borders. We
see life science and regenerative medicine as a bridge for building
peace, prosperity, and well-being in our region and for the entire
world. I believe it is our obligation and privilege as business and
scientific leaders to lead the way forward to strengthen
collaborations, and promote innovation and education. We are
honored to be on the front line of this historical moment,” stated
Pluristem CEO and President Yaky Yanay.
Dr Yendry Ventura, General Manager of the ADSCC
commented, “Pluristem is a major player in the cell therapy field
with years of experience, a unique platform and a robust clinical
pipeline. We are excited to join forces and to promote the
research and development of cell therapies for the best of the
patients and the human society as a whole.”
About Abu Dhabi Stem Cells
CenterAbu Dhabi Stem Cells Center (ADSCC) is an Abu
Dhabi-based specialist healthcare center focused on cell therapy
and regenerative medicine, as well as delivering cutting-edge
research on stem cells in the region. The Center was founded in
March 2019 to meet growing domestic and regional demand for highly
specialized medical services and treatments. Equipped with the
latest technologies, medical devices which are unique to the
region, and a team of internationally recognized doctors working
hand in hand with researchers, ADSCC is the first of its kind in
the UAE. ADSCC specialties include immunology, hematology, clinical
stem cell therapy, molecular biology, immunotherapy, orthopedics,
and urology – amongst others.
About Pluristem
TherapeuticsPluristem Therapeutics Inc. is a leading
regenerative medicine company developing novel placenta-based cell
therapy product candidates. The Company has reported robust
clinical trial data in multiple indications for its patented PLX
cell product candidates and is currently conducting late stage
clinical trials in several indications. PLX cell product candidates
are believed to 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; a
Company-owned and operated GMP-certified manufacturing and research
facility; 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 it
discusses the aim of the collaboration with the ADSCC is to
capitalize on each company’s respective areas of expertise in cell
therapies to deliver regenerative medicine for the benefit not only
of the citizens of the UAE and Israel, but for humanity as a whole
and the belief that it is its obligation and privilege as business
and scientific leaders to lead the way forward to strengthen
collaborations, and promote innovation and education. 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:
Dana RubinDirector of Investor
Relations972-74-7107194danar@pluristem.com
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