Zami Aberman Chairman and CEO stated, "We are pleased and proud to enter into a partnership agreement with such a meaningful partner as Cha Bio&Diostech, part of the CHA Health Systems Group. We believe the alliance of Pluristem with a recognized leader of advanced healthcare systems in South Korea will provide multiple opportunities to strengthen our pipeline and develop PLX cells products for new indications. Cha Bio&Diostech's commitment to the PAD markets is an important milestone for us. We will be able to receive data from multiple CLI and IC trials that will enable us to optimize the clinical development of PLX-PAD. The co-owned joint venture will take advantage of Cha's unique and leading position in regenerative medicine in South Korea and Pluristem's proprietary 3D cells culturing capabilities. Pluristem is committed to a long and fruitful partnership with the CHA Health Systems Group."Won S Yang, President & CEO of Cha Bio&Diostech states, "I believe the partnership between Pluristem and CHA Bio&Diostech carries far more significance with distinguished long-term business potential compared to other similar collaborations in the field of cell therapeutics by combining two companies' unique and unequaled technological prowess and outstanding leaderships in the industry. Particularly, Pluristem's pipeline PLX leveraging CHA Health Systems group's R&D, clinical development, regulatory and commercialization infrastructure focused on cell therapies in Korea will provide huge strategic advantage to entering Korea and global market territory in the future. Going forward, we expect PLX cells will be the first Pharmaceutical-like stem cell therapy product as well as the first allogenic product approved for the mass market to treat numerous patients suffering from serious disease such as the CLI and IC with limited cure."
Pluristem Enters Into Strategic Partnership And Licensing Agreement With Cha Bio&Diostech For The Development And Commercialization Of PLX Cells For The Treatment Of CLI And IC In South Korea
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