Pluristem Therapeutics And CHA Move Forward On Strategic Partnership Agreement; Conclude Mutual Investment Of $10.4 Million

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

HAIFA, Israel, Dec. 17, 2013 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PLTR) today announced that pursuant to the previously announced exclusive out-license and strategic partnership agreement between Pluristem Ltd. and South Korea-based CHA Bio&Diostech (Kosdaq:CHA), the details of which were announced on June 26, 2013, Pluristem and CHA entered into investment agreements pursuant to which Pluristem has issued to CHA 2,500,000 shares of its common stock in consideration for the issuance to Pluristem of 1,011,504 shares of CHA. This reflects a total consideration of $10.4 million, at a price of $4.16 per Pluristem common share, a premium of 26% over the closing price on December 16, 2013. The shares are subject to a lock up period of one year.

Help employers find you! Check out all the jobs and post your resume.

Back to news