Israeli Firm Receives Grant to Develop Stem Cell Products

(Haifa, Israel), recently announced that its fully owned subsidiary, Pluristem Ltd., has received a U.S.$470,000 grant from Israel's Chief Scientist Office (CSO) to further develop a stem cell solution for bone marrow.

The monies were designated to further develop Pluristem's stem cell product PLX-I, a breakthrough potential solution that could be used to replace the traditional bone marrow transplant search-and-match process. The 3% royalty-bearing grant is part of the Israeli government's Ministry of Trade and Industry program that offers incentives to high-tech Israeli companies for capital investment, scientific research, and development.

Pluristem is developing and commercializing stem cell expansion technology products for the treatment of severe blood disorders. The company is developing cell-based therapeutics utilizing adult stem cells that are expanded in a proprietary bioreactor mimicking different naturally occurring physiologic environments. Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation.

This first adult stem cell product targets a critical global shortfall of matched tissue for bone marrow transplantation since bone marrow transplantation is often the only cure for patients suffering from leukemia, lymphoma, myeloma and many other hematologic diseases. The company has made a strategic decision to work only with adult stem cells since the practical use of embryonic stem cells is severely restricted by various religious, ethical, and legal considerations.

"We are excited that the CSO has recognized us as a leader in stem cell technology and proud they decided to support the development of PLX I,” said Zami Aberman, CEO of Pluristem. "The grant will help our firm to complete additional animal studies and human clinical trials. PLX-I could then be offered to the medical community, positioning Pluristem to capture a significant share of the $5 billion commercial bone marrow transplant market. It was always a privilege to be associated with such great technology and now to have the support of the government to bring it to market could add even more distinction to our advanced line of adult stem cell graft products.



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