Pluristem Therapeutics (PSTI +3.3%) forges a partnership with Cha Bio&Diostech for using...

|About: Pluristem Therapeutics, Inc. (PSTI)|By:, SA News Editor

Pluristem Therapeutics (PSTI +3.3%) forges a partnership with Cha Bio&Diostech for using Pluristem's PLX stem-cell therapy to develop treatments for peripheral artery disease (PAD) in South Korea, where 1M people suffer from the problem. Once the first PLX product is approved in the country, the companies will form a JV to commercialize it. As part of the deal, Pluristem will issue Cha 2.5M shares in return for 1.01M shares of Cha, reflecting a consideration of $10M for the Pluristem stock. (PR)