Pluristem Therapeutics Strengthens Its Position In Asia, Awarded Two New Patents In Hong Kong For Critical Limb Ischemia And Muscle Regeneration
Published: Sep 13, 2017
HAIFA, Israel, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (NASDAQ:PSTI) (TASE:PSTI), a leading developer of placenta-based cell therapy products, announced today that the company has been issued two new patents by Hong Kong Patents Registry for its cell therapy products relating to two of the company’s leading indications, Critical Limb Ischemia (CLI) and muscle regeneration.
The first patent addresses the use of mesenchymal stem cells for the treatment of skeletal muscle damage or injury. The second is for the use of adherent cells to treat ischemia and for connective tissue regeneration and repair.
Pluristem holds over 100 patents globally, including 19 approved patents in China and Hong Kong, that cover various innovations, including the application of Pluristem’s proprietary PLacental eXpanded (PLX) cells, to a wide variety of medical indications like Intermittent Claudication (IC), CLI, hematological disorders such as Acute Radiation Syndrome (ARS), and recovery and repair of injured skeletal muscle.
The approval for the patents follows a recent “Smart Money” grant from Israel’s Ministry of Economy and Industry to support marketing activities in Hong Kong and China. Pluristem’s progress in these markets reflects the company’s goal of offering accessible cell therapy treatments to Asia’s growing healthcare market.
“Receiving approval for these patents strengthens our position in Asia, where we believe our PLX cells can have a lasting and beneficial impact on the way millions of patients are treated for prevalent medical conditions,” noted Yaky Yanay, President and Co-CEO of Pluristem. “We view these patent approvals as a vote of confidence in our innovative treatments and intellectual property, as our cell therapies move closer to commercialization.”
About Pluristem Therapeutics
Pluristem Therapeutics Inc. is a leading developer of placenta-based cell therapy products. The Company has reported robust clinical trial data in multiple indications for its patented PLX (PLacental eXpanded) cells, and is entering late-stage trials in several indications. PLX cell products release a range of therapeutic proteins in response to inflammation, ischemia, muscle trauma, hematological disorders, and radiation damage. The cells are grown using the Company's proprietary three-dimensional expansion technology and can be administered to patients off-the-shelf, without tissue matching.
Pluristem has a strong intellectual property position; Company-owned and operated, GMP-certified manufacturing and research facilities; strategic relationships with major research institutions; and a seasoned management team.
Safe Harbor Statement
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Pluristem is using forward-looking statements when its discusses that its strategy is to penetrate Asian markets and offer accessible cell therapy treatments to patients, its belief that the Asian continent’s aging populations and growing healthcare market make it ripe for cell therapy treatments and its belief that PLX cells can have a lasting and beneficial impact on the way millions of patients are treated for prevalent medical conditions. 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; Pluristem may encounter delays or obstacles in launching and/or successfully completing its clinical trials; Pluristem’s products may not be approved by regulatory agencies, Pluristem’s technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; Pluristem may be unable to retain or attract key employees whose knowledge is essential to the development of its products; unforeseen scientific difficulties may develop with Pluristem’s process; Pluristem’s products may wind up being more expensive than it anticipates; results in the laboratory may not translate to equally good results in real clinical settings; results of preclinical studies may not correlate with the results of human clinical trials; Pluristem’s patents may not be sufficient; Pluristem’s products may harm recipients; changes in legislation may adversely impact Pluristem; 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.
Karine Kleinhaus, MD, MPH
Divisional VP, North America
Head of Investor and Public Relations