HAIFA, Israel, Oct. 9, 2012 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR), a leading developer of placenta-based cell therapies, today announced that the Company has issued a letter to shareholders that provides an overview of the numerous milestones recently achieved by the company. The letter can be found on the company's website. Highlights include:
- Raised net $34 million in a secondary offering, bringing the company's cash position to approximately $70 million, with no debt
- Targeting future clinical trials in Bone Marrow Transplant failure indications, following the improvement of clinical condition and hematological counts after treatment of critically ill patients under a compassionate use program at the Hadassah Medical Center in Jerusalem
- Began FDA-approved Phase II clinical trials in the U.S. for Intermittent Claudication
- Received approval for Phase I/II clinical trial in muscle injury in Germany
- Received approval from the Indian Ministry of Health to begin Phase II clinical trials in Buerger's Disease patients
- Filed for Orphan Drug Status with the U.S. FDA for Aplastic Anemia
- Optimizing manufacturing processes for commercial scale up
- Building a new state-of-the-art manufacturing GMP facility in Israel suitable for large-scale production.
- Pursuing new indications and fields of research in lung disease and acute radiation syndrome
To read Pluristem's Letter to Shareholders in full, please visit: http://www.pluristem.com/index.php?option=com_content&view=article&id=250&catid=4&Itemid=104
About Pluristem TherapeuticsPluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR) is a leading developer of placenta-based cell therapies. The Company's patented PLX (PLacental eXpanded) cells are a drug delivery platform that releases a cocktail of therapeutic proteins in response to a host of local and systemic inflammatory and ischemic diseases. PLX cells are grown using the company's proprietary 3D micro-environmental technology and are an "off-the-shelf" product that requires no tissue matching prior to administration. Pluristem is focusing on the development of PLX cells administered locally to potentially treat systemic diseases and potentially obviating the need to use the intravenous route.