HAIFA, ISRAEL, August 09, 2017— Pluristem Therapeutics Inc. (NASDAQ: PSTI) (TASE: PSTI), a leading developer of placenta-based cell therapy products, today announced that it has been awarded a “Smart Money” grant from Israel’s Ministry of Economy and Industry to help penetrate the Chinese market, including Hong Kong, with its advanced cell therapy products.
The Smart Money program’s aim is to help companies expand their business to growing international markets. The Israeli government will fund half of Pluristem’s marketing activities in the China-Hong Kong markets, with certain limitations, supporting promotion of the company’s advanced cell therapy products. Pluristem will also receive close support from Israel’s trade representatives stationed in China, including Hong Kong, along with experts appointed by the Smart Money program.
“We are grateful for the Israeli government’s generous support, which will help us introduce our cell therapy products to key markets such as China and Hong Kong,” stated Pluristem President and Co-CEO Yaky Yanay. “In the last two years, we have been very active in Asian markets, and strong governmental support is important in helping us continue building these relationships and potential partnerships. The recent changes in the Chinese Food and Drug Administration (CFDA) guidelines, which accelerate the regulatory approval process for regenerative medicine technologies, represents an opportunity for Pluristem and its strategic partners to address the needs of Asia’s rapidly growing healthcare market and aging populations. Economic and trade activity between Israel and China is reaching new heights, fostering increased partnerships between the Israeli hi-tech sector and Chinese companies. We are honored to be part of these growing partnerships and to contribute to both countries. We look forward to providing better treatment options for millions of patients worldwide.”
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 conducting late-stage trials in several indications. The PLX cell products release a range of therapeutic proteins in response to inflammation, ischemia, hematological disorders, and radiation damage. PLX cell products are grown using the Company’s proprietary three-dimensional expansion technology. They are off-the-shelf, requiring no tissue matching prior to administration.
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.
