Pluristem Therapeutics Was Awarded a $1.9 Million Grant From the Office of the Chief Scientist in the Israeli Government
HAIFA, Israel, Jun 29, 2009 (BUSINESS WIRE) -- Pluristem Therapeutics Inc. (NasdaqCM:PSTI) (DAX:PJT), a bio-therapeutics company dedicated to the commercialization of unrelated donor-patient (allogeneic) cell therapy products for a variety of disorders, announced today that the company was awarded a $1.9 million government grant from the Office of the Chief Scientist (OCS) at the Ministry of Industry, Trade and Labor of Israel, as a government participation in R&D expenses for the period March 2009 to February 2010. The OCS awards grants to industry in Israel to foster technological innovations. This is the fourth consecutive year that Pluristem has received this respected grant. The funds will be designated and used by Pluristem to support the clinical trials of the allogeneic placental-derived adherent stromal cell product, termed PLX-PAD, for the treatment of critical limb ischemia (CLI), the end-stage of peripheral artery disease (PAD), as well as for other research and development activities of the Company.
Mr. Zami Aberman, Pluristem's President & CEO, commented: "Pluristem is becoming a clinical company and we are pleased to receive the prestigious grant from the OCS to support Pluristem's upcoming clinical activities and to continue our R&D discoveries. We believe that this grant is the Israeli government's vote of confidence in the potential of Pluristem to become a dominant participant in the cell therapy market." |
