Pluristem Initiates Final Validation of New Manufacturing Facility
Capacity Design of Over 150,000 PLX Doses Annually
HAIFA, ISRAEL, December 27, 2012 – Pluristem Therapeutics, Inc. (NASDAQCM: PSTI; TASE:PLTR), a leading developer of placenta-based cell therapies, announced today it has initiated the final validation steps for it new “state-of-the-art” manufacturing facility prior to taking possession of the facility. These steps include the validation of several installation systems including as heating, ventilation and air conditioning (HVAC), water, oil free air and sterile room systems.
Zami Aberman, Chairman and CEO of Pluristem commented, "I am extremely proud of our team in meeting milestones for the completion of the world’s first commercial cell therapy manufacturing facility. Assuming the PLX cells product candidates are successfully developed and approved by the regulators, we believe that the new facility would have the capacity to produce PLX cells for the treatment of over 150,000 patients annually estimated by Pluristem at $1 billion in production value. Additionally, as clinical trials are approved by regulators for additional indications, our new facility will enable us to supply PLX cells to conduct these trials in parallel."
About Pluristem Therapeutics
Pluristem Therapeutics Inc. (NASDAQCM:PSTI) (TASE:PLTR) is a leading developer of placenta-based cell therapies. The Company's patented PLX (PLacental eXpanded) cells are a drug delivery platform that releases a cocktail of therapeutic proteins in response to a host of local and systemic inflammatory and ischemic diseases. PLX cells are grown using the company's proprietary 3D micro-environmental technology and are an "off-the-shelf" product that requires no tissue matching prior to administration. Pluristem is focusing on the development of PLX cells administered locally to potentially treat systemic diseases and potentially obviating the need to use the intravenous route.
Pluristem has a strong patent and patent applications portfolio, company-owned GMP certified manufacturing and research facilities, strategic relationships with major research institutions and a seasoned management team. For more information visit www.pluristem.com, the content of which is not part of this press release. |
