HAIFA, Israel, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Pluristem Therapeutics, Inc. (Nasdaq:PSTI) (TASE:PLTR), a leading developer of placenta-based cell therapies, today announced it has renewed a five-year Collaborative Research Agreement with the Berlin-Brandenburg Center for Regenerative Therapy (BCRT) at Charite - University Medicine Berlin. The original five-year Collaborative Research Agreement was signed between the parties in 2007.
Between 2007 and 2012, Pluristem and BCRT have collaborated on a variety of indications utilizing Pluristem's patented PLacental eXpanded (PLX) cells including neurological indications such as Multiple Sclerosis, cardiovascular indications such as inflammatory cardiomyopathy, and comprehensive immunological research for Pluristem's Peripheral Artery Disease clinical programs which are now entering into Phase II trials and address a $16.5 billion global market. Over the past five years, and due in part to this collaboration, Pluristem has made significant progress with cardiovascular indications including ischemic heart disease and diastolic heart failure, both of which have completed pre-clinical trials. These cardiovascular indications represent an estimated global market of $24 billion.
Pluristem continues to develop and strengthen its IP, technology and products stemming from the collaboration with BCRT. Over the next five years of the agreement through 2017, BCRT and Pluristem will collaborate on Pluristem's Phase I/II clinical trial in Germany on the regeneration of injured gluteal muscle, as well as on immunological research and the development of new product candidates."As a result of our cooperation to date, we have enhanced and expanded our product pipeline. Our PLX cells may hold the key to a number of regenerative therapies and working with one of the leading institutions in the world in the field of regenerative medicine is extremely important to us," commented Pluristem Chairman and CEO, Mr. Zami Aberman. "We look forward to further progress on indications in which we already have pre-clinical initiatives as well as discoveries in new indications."