Pluristem Therapeutics Approved for Listing on NASDAQ Capital Market
NEW YORK, Dec 06, 2007 (BUSINESS WIRE) -- Pluristem Therapeutics Inc. (OTCBB:PSTI) (DAX:PJT), a leading bio-therapeutics company dedicated to the commercialization of non-personalized (allogeneic) cell therapy products for a variety of malignant, ischemic and auto-immune disorders, announced today that NASDAQ has approved the Company's application to list its securities on the NASDAQ Capital Market. The Company's common stock will begin trading on December 11, 2007 under the symbol PSTI.
Zami Aberman, Pluristem's President and CEO commented, "Pluristem is proud to begin trading on the NASDAQ Capital Market system. We believe that NASDAQ is the right platform to support our business growth aspirations. I am confident that our listing will facilitate broader interest in our common stock from both institutional and individual investors."
The NASDAQ listing approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on NASDAQ, including that the trading price of the Company's common stock remain at $4.00 or more, and may be rescinded if the Company is not in compliance with such standards.
About Pluristem
Pluristem Therapeutics, 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 product, PLX-I, is directed at resolving 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 (UCB).
Pluristem's products are derived from mesenchymal stromal cells (MSCs) obtained from the placenta and not from embryonic stem cells. They are 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 multi-potent and able to differentiate into a variety of cell types. Recent evidence also suggests their efficacy may be related to their secretion of cytokines or other potent immune modulators. Furthermore, PLX cells are believed to be immune-privileged, hence protecting the recipient from immunological reactions that often accompany transplantation.
Pluristem has offices in the USA with research and manufacturing facilities in Israel. |
