HAIFA, Israel, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR), a leading developer of placenta-based cell therapy products, announced today that its European Patent No. EP2200622, titled, "ADHERENT CELLS FROM ADIPOSE OR PLACENTA TISSUES AND USE THEREOF IN THERAPY", was upheld by the European Patent Office in amended form, affirming its validity.
Pluristem's patent went through Opposition Proceedings before the Opposition Division of the European Patent Office, as a result of a challenge from a cell therapy company. The European Patent Office concluded that Pluristem's patent, whose claims cover treatment of ischemia with adherent placental cells which are propagated using a 3D culture, is valid.
"With a portfolio of 30 issued patents and another 120 pending, intellectual property is a core asset for Pluristem. We will continue to invest in and defend our patents," stated Zami Aberman, Chairman and CEO of Pluristem.
"We believe this case, which was brought to the Opposition Division of the European Patent Office from a cell therapy company, afforded Pluristem a clear opportunity. We have proven that we are determined to protect our IP assets that cover our unique, proprietary inventions, and that we are committed to protect our patents from any challenge," Aberman concluded.
About Opposition Proceedings before the European Patent Office (EPO)
EPO Opposition Proceedings are post-grant adversarial proceedings in which interested third parties can challenge the validity of all the national parts of a European patent via a single centralized procedure. The decision of the Opposition Division to uphold Pluristem's EP2200622 in amended form is open to an appeal to one of the EPO's Technical Boards of Appeal for all parties involved.
About Pluristem Therapeutics
Pluristem Therapeutics Inc. is a leading developer of placenta-based cell therapy products. The Company's patented PLX (PLacental eXpanded) cells release a cocktail of therapeutic proteins in response to inflammation or ischemia. PLX cells are grown using the Company's proprietary three dimensional expansion technology and are an "off-the-shelf" product that requires no tissue matching prior to administration.
Pluristem has a strong intellectual property position, 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.
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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, we are using forward-looking statements when we discuss investing in and defending our patents. These forward-looking statements and their implications 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 and/or successfully completing our clinical trials; our products may not be approved by regulatory agencies, 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 end 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.: Karine Kleinhaus, MD, MPH Divisional VP, North America 1-914-512-4109 email@example.com
Source:Pluristem Therapeutics Inc.