NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS - News; DAX:PJT), a bio-therapeutics Company dedicated to the commercialization of products for a variety of malignant, degenerative and auto-immune indications, announced today that Dr. Philip J. Schein has joined its Strategic Business Advisory board, headed by Frank Carlucci.

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Dr. Schein, the Founder of US Bioscience, took three new therapies for cancer and HIV through the development and regulatory approval processes, and established marketing alliances in the US and throughout the world. His company was acquired by Medimmune for $450 million in 1995. Medimmune has recently been acquired by AstraZeneca for approximately $16 Billion. Dr. Schein is the author of over 350 articles and texts in the fields of clinical cancer research and drug development. He is the holder of 11 patents and the recipient of numerous scientific and medical awards. President Clinton appointed Dr. Schein to the National Cancer Advisory Board. He also served as President of the American Society of Clinical Oncology, and has chaired the Food and Drug Administration's Oncologic Drugs Advisory Committee, where he received the Harvey W. Wiley Medal.

Dr. Schein said, "Pluristem's technology has the potential to be very beneficial in bone-marrow transplantation, Parkinson's Disease and heart disease. I want to be part of that."

"We are honored to have Dr. Schein join our board," commented Zami Aberman, Chairman and CEO, "he has built a significant biotechnology company before, and his experience will be invaluable to Pluristem as we execute our ambitious growth plan."

About Pluristem:

Pluristem Life Systems, Inc. is a Company dedicated to the commercialization of non-personalized (allogeneic) stem cell therapy products for the treatment of numerous severe degenerative, malignant and autoimmune disorders. The Company's first planned product, PLX-I, targets a $2 billion market and is intended to resolve the global shortfall of matched tissue for bone marrow transplantation (BMT) by improving the engraftment of hematopoietic stem cells (HSCs) contained in umbilical cord blood (CB). Pluristem's products are derived from mesenchymal stem cells (MSCs) obtained from the placenta and expanded in the Company's proprietary PluriX(TM) 3D bioreactor that imitates the natural microstructure of bone marrow and does not require supplemental growth factors, cytokines or other exogenous materials. Pluristem believes the resultant expanded cells, termed PLX cells, are multipotent and able to differentiate into a variety of cell types as well as being immune-privileged to protect the recipient from immunological reactions that often accompanies transplantation. Pluristem believes their future products will participate in the approximate $30 billion therapeutic and regenerative cellular market.

Pluristem has offices and is incorporated in the USA with research and manufacturing facilities in Israel. www.pluristem.com

Safe Harbor Statement:

This press release contains statements, which may constitute "forward-looking statements" regarding our intent, belief or current expectations. Forward-looking statements in this release include that Pluristem's has the potential to be very beneficial in bone-marrow transplantation, Parkinson's Disease and heart disease. Factors that could prevent our forward looking statements from being achieved include that we may be unable to get regulatory approval for our products; we may be unsuccessful in developing any products; 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; results in the laboratory may not translate to equally good results in real surgical settings; our patents may not be sufficient to protect essential aspects of our technology; competitors may invent better technology; our products may not work as well as hoped or worse, our products may harm recipients; and we may not be able to raise funds for development or working capital when we require it. As well, our products may never develop into useful products and even if they do, they may not be approved for sale to the public. For further risk factors see the Company's latest 10-KSB filed with the SEC.

 

Pluristem Life Systems William Prather, 303-883-4954 Sr. VP Corporate Development bill@pluristem.com or Segue Ventures LLC Craig Bird, 215-885-4981 CHBird@segue.biz