Pluristem and World Renowned Charite Berlin-Brandenburg Center for Regenerative Therapies Renew Five-Year Collaborative Research Agreement
HAIFA, Israel, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Pluristem Therapeutics, Inc (PSTI) . (Nasdaq:PSTI) (TASE:PLTR), a leading developer of placenta-based cell therapies, today announced it has renewed a five-year Collaborative Research Agreement with the Berlin-Brandenburg Center for Regenerative Therapy (BCRT) at Charite - University Medicine Berlin. The original five-year Collaborative Research Agreement was signed between the parties in 2007.
Between 2007 and 2012, Pluristem and BCRT have collaborated on a variety of indications utilizing Pluristem's patented PLacental eXpanded (PLX) cells including neurological indications such as Multiple Sclerosis, cardiovascular indications such as inflammatory cardiomyopathy, and comprehensive immunological research for Pluristem's Peripheral Artery Disease clinical programs which are now entering into Phase II trials and address a $16.5 billion global market. Over the past five years, and due in part to this collaboration, Pluristem has made significant progress with cardiovascular indications including ischemic heart disease and diastolic heart failure, both of which have completed pre-clinical trials. These cardiovascular indications represent an estimated global market of $24 billion.
Pluristem continues to develop and strengthen its IP, technology and products stemming from the collaboration with BCRT. Over the next five years of the agreement through 2017, BCRT and Pluristem will collaborate on Pluristem's Phase I/II clinical trial in Germany on the regeneration of injured gluteal muscle, as well as on immunological research and the development of new product candidates.
"As a result of our cooperation to date, we have enhanced and expanded our product pipeline. Our PLX cells may hold the key to a number of regenerative therapies and working with one of the leading institutions in the world in the field of regenerative medicine is extremely important to us," commented Pluristem Chairman and CEO, Mr. Zami Aberman. "We look forward to further progress on indications in which we already have pre-clinical initiatives as well as discoveries in new indications."
Professor Hans Dieter Volk, MD, Director/ Chairman of BCRT at Charite commented, "We have had a very productive collaboration over the past five years and are eager to continue into the future. We believe Pluristem's cells can potentially result in beneficial therapies for a number diseases and together we can achieve significant breakthroughs in various indications."
The Berlin-Brandenburg Center for Regenerative Therapies (BCRT) was founded as a cooperative research institution of the Charite University Hospital in Berlin and Germany's largest research association, the Helmholtz Association. BCRT also receives generous financial support from the BMBF and the states of Berlin and Brandenburg, as well as from the Technology Foundations in Berlin and Brandenburg, the Future Fund Berlin and from various industry partners. The mission of the BCRT is to develop a translational platform for Regenerative Therapies from bench-to-bedside. The five clinical platforms -- Immune, muskuloskleletal, hepatic, neuronal, and cardiovascular system -- are cross-linked by technology platforms (basic science, bio-engineering, translational technologies). First clinical trials with cell therapy have been started. For more information please visit: www.b-crt.de .
About Pluristem Therapeutics
Pluristem Therapeutics Inc. (Nasdaq: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.
Data from two phase I studies indicate that Pluristem's first PLX product candidate, PLX-PAD, is safe and potentially effective for the treatment of end stage peripheral artery disease when given locally. Additionally, Pluristem is developing PLX-PAD for cardiac ischemia, PLX-BMP for Acute Radiation Exposure, Bone Marrow Transplant Failure and Chemotherapy induced Bone Marrow Aplasia, PLX-ORTHO for orthopedic indications and PLX-PAH for Pulmonary Hypertension in collaboration with United Therapeutics. Pluristem's pre-clinical animal models have demonstrated PLX cells are also potentially effective in other inflammatory/ischemic indications, including diastolic heart failure, inflammatory bowel disease, neuropathic pain and pulmonary fibrosis.
Pluristem has a strong patent 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. Follow Pluristem on Twitter@Pluristem.
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we say that we will pursue new therapies for variety of degenerative disorders; when we say that our Peripheral Artery Disease clinical programs which are now entering into Phase II trials and address a $16.5 billion global market; when we discuss the fruits of collaboration with the BCRT in the past five years; when we discuss the collaboration goals for the next five years we are using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Pluristem only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; we may encounter delays or obstacles in launching our clinical trials; 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; our products may wind up being more expensive than we anticipate; results in the laboratory may not translate to equally good results in real surgical settings; results of preclinical studies may not correlate with the results of human clinical trials; our patents may not be sufficient; our products may harm recipients; changes in legislation; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Pluristem to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Pluristem undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Pluristem, reference is made to Pluristem's reports filed from time to time with the Securities and Exchange Commission.
CONTACT: Pluristem Therapeutics Inc.: William Prather R.Ph., M.D. Sr. VP Corporate Development 1-303-883-4954 William.PratherMD@pluristem.com Daya Lettvin Investor & Media Relations Director +972-54-674-5580 email@example.com Media Contact: Matthew Krieger Finn Partners - for Pluristem +972-54-467-6950 firstname.lastname@example.org
Source: Pluristem Therapeutics Inc. 2012 GlobeNewswire, Inc.