Frank Carlucci to Chair Pluristem Life Systems, Inc. Strategic Business Advisory Board
BUSINESS WIRE
NEW YORK--(BUSINESS WIRE)----Pluristem Life Systems, Inc. (OTCBB:PLRS)(DAX:PJT), a bio-therapeutics Company dedicated to the commercialization of products for a variety of malignant, degenerative and auto-immune indications, announced today that Frank Carlucci, former US Defense Secretary, will be heading the Company's Strategic Business Advisory Board.
Mr. Carlucci is Chairman Emeritus of The Carlyle Group, after serving as Chairman from 1992 to 2003.
Mr. Carlucci commented, "Pluristem's technology has the potential to be very beneficial in areas such as bone-marrow transplantation, Parkinson's Disease and heart disease, among others."
Pluristem's Chairman and CEO, Mr. Zami Aberman, said, "We are honored to have Frank Carlucci heading our Strategic Business Advisory Board, and are very pleased that Mr. Carlucci has taken a 4.1% stake in Pluristem Life Sciences as part of our recently announced $13.5 million financing."
About Pluristem:
Pluristem Life Systems, Inc. is a Company dedicated to the commercialization of non-personalized (allogeneic) stem cell therapy products for the treatment of numerous severe degenerative, malignant and autoimmune disorders. The Company's first planned product, PLX-I, targets a $2 billion market and is intended to resolve the global shortfall of matched tissue for bone marrow transplantation (BMT) by improving the engraftment of hematopoietic stem cells (HSCs) contained in umbilical cord blood (CB).
Pluristem's products are derived from mesenchymal stem cells (MSCs) obtained from the placenta and expanded in the Company's proprietary PluriX(TM) 3D bioreactor that imitates the natural microstructure of bone marrow and does not require supplemental growth factors, cytokines or other exogenous materials. Pluristem believes the resultant expanded cells, termed PLX cells, are multipotent and able to differentiate into a variety of cell types as well as being immune-privileged to protect the recipient from immunological reactions that often accompanies transplantation. Pluristem believes their future products will participate in the approximate $30 billion therapeutic and regenerative cellular market.
Pluristem has offices and is incorporated in the USA with research and manufacturing facilities in Israel. www.pluristem.com
Safe Harbor Statement This press release contains statements, which may constitute "forward-looking statements" regarding our intent, belief or current expectations. Forward-looking statements in this release include that Pluristem's technology has the potential to be very beneficial in areas such as bone-marrow transplantation, Parkinson's Disease and heart disease, among others; Factors that could prevent our forward looking statements from being achieved include that we may be unable to get regulatory approval for our products; we may be unsuccessful in developing any products; 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; results in the laboratory may not translate to equally good results in real surgical settings; our patents may not be sufficient to protect essential aspects of our technology; competitors may invent better technology; our products may not work as well as hoped or worse, our products may harm recipients; and we may not be able to raise funds for development or working capital when we require it. As well, our products may never develop into useful products and even if they do, they may not be approved for sale to the public. For further risk factors see the Company's latest 10-KSB filed with the SEC.
Pluristem Life SystemsWilliam Prather, 303-883-4954Sr. VP Corporate Developmentbill@pluristem.comorStrategic Growth International, Inc.Richard Cooper, 212-838-1444rcooper@sgi-ir.comorSegue Ventures LLCCraig Bird, 215-885-4981CHBird@segue.bizorInvestors' Message Board:http://finance.groups.yahoo.com/group/Pluristem_IR/
© Business Wire 2006
06/11/2007 07:35 ET |
