HAIFA, Israel, March 23, 2010 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (DAX:PJT) today announced that it has been granted a European Patent on its core 3D cell expansion technology. The granting of the European patent follows the issuance of several corresponding US patents as well as corresponding patents in ten additional jurisdictions. A divisional application of the now granted European application has been timely filed. In addition to these granted patents, Pluristem's portfolio consists of 39 pending patent applications on the methods for production and expansion of stromal, progenitor and hematopoietic cells and the use of the obtained cells for the treatment of numerous severe degenerative, ischemic and autoimmune disorders in human subjects and for veterinary regenerative uses.
"Our strong patent position further strengthens our competitive advantage as we move forward in realizing the full potential of our PLX cell therapy in the treatment of critical limb ischemia and other diseases," said Zami Aberman, chairman and CEO of Pluristem.
Pluristem's 3D bioreactor system, PluriXTM, promotes the rapid and fully controlled reproducible expansion of adherent stromal cells. Unlike conventional two-dimensional (2D) culturing methods, the company's PluriXTM bioreactor creates a 3D microenvironment that closely resembles the structure and function of the body's natural environment. PluriXTM is a scalable and very efficient system. For example, a 75-liter bioreactor is equivalent to more than 20,000 2D conventional culturing flasks and enables Pluristem to treat hundreds of patients from just one bioreactor.
About Pluristem
Pluristem is a clinical stage biotechnology company with proprietary technology for the development and manufacturing of standardized cell therapies derived from the human placenta. Pluristem's PLX (PLacental eXpanded) cell product candidates are developed as readily available for the treatment of critical limb ischemia (CLI) and other diseases.
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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 our strong patent position further strengthens our competitive advantage as we move forward in realizing the full potential of our PLX cell therapy in the treatment of critical limb ischemia and other diseases, 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; 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.
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