NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS) (DAX:PJT), a leading bio-therapeutics Company dedicated to the commercialization of non-personalized (allogeneic) cell therapy products for a variety of malignant, Ischemic and auto-immune disorders, announced today that it has completed the construction of its new state-of-the-art GMP (Good Manufacturing Practice) facilities which are designed to support the manufacturing process of the Company’s PLX-I (PLacenta eXpanded) cells for the upcoming Phase I clinical trials, in which PLX-I will be used with cord blood as an alternative to bone marrow transplantation. Additionally, these facilities will be sufficient to enable large-scale commercial production of PLX cells.

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“The completion of the construction of our GMP facilities is a major milestone in our strategy for controlling the entire commercialization process, from harvesting placental cells to the 3D expansion processes of our PLX cells and product sales,” said Zami Aberman, Pluristem’s President and CEO. “These facilities were designed to have the flexibility to support both clinical trials and large scale commercial production. This will provide us with the production capacity to support our upcoming clinical trails, our research activities and pipeline of new clinical indications.”

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 product, PLX-I, is directed at resolving 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 (UCB).

Pluristem's products are derived from mesenchymal stromal cells (MSCs) obtained from the placenta and not embryonic stem cells. They are expanded in the Company's proprietary PluriXTM 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 multi-potent 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 accompany transplantation.

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

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. 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. For example, when we speak about our facilities, which are designed to support the manufacturing process of the Company’s PLX-I (PLacenta eXpanded) cells for the upcoming Phase I clinical trials and will be sufficient to enable large-scale commercial production of PLX cells, we are using forward-looking statements. We may not be able to support the manufacturing process of the Company’s PLX-I (PLacenta eXpanded) cells for the upcoming Phase I clinical trials and our facilities may not be sufficient to enable large-scale commercial production of PLX cells. 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; 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; 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 risk and uncertainties affecting Pluristem, reference is made to Pluristem's reports filed from time to time with the Securities and Exchange Commission.

For more information visit our website at www.pluristem.com, the content of which is not part of this press release.

 

Pluristem Life Systems William Prather, 303-883-4954 Sr. VP Corporate Development bill@pluristem.com or CEOcast Michael Wachs, 212-732-4300 mwachs@ceocast.com