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Biotech / Medical : Pluristem Therapeutics

PSTI 8.720

+0.2%

Aug 14 5:00 PM EST

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From: xcentral1	8/4/2009 8:36:34 AM
	of 295

Pluristem’s Award from the Israeli Office of the Chief Scientist Increased to $2.3 Million Pluristem Therapeutics Inc. (NasdaqCM:PSTI)(DAX:PJT), will receive a total of $2.3 million in funding for its stem cell programs from the Office of the Chief Scientist (OCS) at the Ministry of Industry, Trade and Labor of Israel. This is an increase from the previously announced amount of $1.9 million. Funds will be utilized primarily to support the Company’s clinical trials of PLX-PAD, which is the first placenta derived stem cell product cultured in Pluristem’s proprietary PluriXTM 3D bioreactor system. PLX-PAD is targeted for the treatment of critical limb ischemia (CLI), the end-stage of peripheral artery disease (PAD). “The funds awarded by the Israeli government over the past several years allowed Pluristem to develop its technology and products,” said Zami Aberman, chairman, president and CEO of Pluristem. The OCS support has enabled Pluristem to move forward with its clinical goals and has been instrumental in supporting the development of the biotech industry in Israel. We believe that ongoing funding from the OCS will enable us to become a leading global player in the cell therapy industry and make a significant contribution to the growing bio-tech industry in Israel."

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