HAIFA, Israel, Dec. 1, 2014 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PSTI), a leading developer of placenta-based cell therapy products, announced today it has been granted a patent in Singapore titled "Methods for Cell Expansion and Uses of Cells and Conditioned Media Produced Thereby for Therapy."
Patent No. 170761 is Pluristem's second granted patent in Singapore, and relates to methods of expanding adherent stromal cells from human placental or adipose tissue using Pluristem's three-dimensional technology. Patents from the same family have previously been granted in Australia, India, Russia, and South Africa. Pluristem's intellectual property portfolio now includes 33 patents issued and approximately 120 more pending worldwide.
"Singapore is a significant healthcare market and is a manufacturing center in the cell therapy space. We are happy to continue to build our relationship with its governmental agencies while strengthening our 3D technology-based competitive advantage in this important territory. We believe the regulatory environment for cell therapy to be advantageous and supportive of accelerated commercialization pathways in a number of Asian countries. For this reason we are actively seeking partners in Japan, and have already established a partnership with CHA Bio, a major biotechnology company in South Korea," stated Pluristem CEO Zami Aberman.
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, hematological disorders, radiation damage, and 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, forward-looking statements are used in this press release when we discuss our belief that regulatory environment for cell therapy is advantageous and supportive of accelerated commercialization pathways in a number of Asian countries. 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 wind 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 firstname.lastname@example.org
Source:Pluristem Therapeutics Inc.