|
| |
| HAIFA, ISRAEL, December 12, 2010 -- Pluristem Therapeutics Inc. (NasdaqCM: PSTI; ), today announced that the Tel-Aviv Stock Exchange (“TASE”) has approved the dual listing of the Company’s ordinary shares on the TASE beginning at market open on December 19, 2010, under the ticker symbol PLTR.
The Company also announced today that, based upon Pluristem's current market capitalization, it expects its shares to be subject to inclusion in four TASE equity indexes: Tel-Tech, TA Composite, MidCap TA and Biomed.
"Pluristem is very proud to be listing its shares on the TASE, allowing us to address the great interest among local institutional investors and strategic partners to our solutions and technology platform," said Zami Aberman, CEO of Pluristem. "Listing on the TASE is an important part of the Company's vision of growing the Israeli economy through the country's pharmaceutical industry, and while Pluristem is the first stem-cell company to list on the TASE, we look forward to being joined by other companies in the near future."
Mr. Aberman; Prof. Edwin Horwitz, President of the International Society for Cellular Therapy and Chairman of Pluristem's Scientific Advisory Board; and Mr. Jason Kolbert, senior biotechnology analyst and Managing Director at National Securities, will speak at an investors conference following the market opening and will be available to answer questions.
In September 2010, Pluristem reported that data from clinical trials show the Company’s placenta-derived cell therapy, PLX-PAD, is potentially safe and improves quality of life as well as other efficacy measurements in patients with Critical Limb Ischemia (CLI), the end-stage of Peripheral Artery Disease (PAD).
|
|
|
| |
| "Following the successful conclusion of Phase 1 testing, Pluristem invested heavily in upgrading its research and development laboratories in Haifa in order to equip them properly for future clinical trials," added Mr. Aberman. "Looking ahead, we plan to build a state of the art development facility that will allow Pluristem to produce large quantities of therapeutics at the highest quality levels, enabling the company to provide relief to millions of patients around the world."
"We congratulate Pluristem on joining the Tel Aviv Stock Exchange," said Ester Levanon, CEO of the TASE. "The biomed sector is one of the fastest growing industries in Israel and with over 50 biomed companies currently traded, the TASE has become one of the world's leading exchanges for biomed companies to list on. A dual listing on the NASDAQ and TASE provides companies such as Pluristem with numerous advantages, including greater exposure to Israeli institutional investors, a longer trading day and access to funds that follow the TASE."
Pluristem is, and plans to remain, subject to the applicable rules and regulations of NASDAQ-listed companies and the U.S. Securities and Exchange Commission. Under Israel’s Dual Listing Law, U.S.-listed companies may dual-list on the TASE without any additional regulatory requirements. Trading on the TASE occurs Sunday through Thursday from 8:30 am to 4:30 pm Israel time, except on TASE trading holidays. The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. Exchange.
|
|
|
| |
| About Pluristem
Pluristem Therapeutics Inc. (NasdaqCM: PSTI; DAX: PJT) is the world's leading developer of placenta-based cell therapies. The company's patented PLX (PLacental eXpanded) cells drug delivery platform releases a cocktail of therapeutic proteins in response to a host of local and systemic inflammatory diseases. PLX cells are grown using the company’s proprietary 3D micro-environmental technology and are an off-the-shelf product that requires no tissue matching prior to administration. Data from phase I/IIa studies indicate Pluristem’s first PLX product, PLX-PAD, is potentially safe and effective for the treatment of end stage Peripheral Artery Disease. Pluristem’s pre-clinical animal models have demonstrated PLX cells are also potentially effective in nerve pain and muscle damage when administered locally and in inflammatory bowel disease, MS and stroke when administered systemically.
Pluristem has a strong patent portfolio, company-owned GMP certified manufacturing and research facilities, strategic relationships with major research institutions and a seasoned management team. For more information visit www.pluristem.com, the content of which is not part of this press release. Follow Pluristem on Twitter @Pluristem.
CLICK HERE to watch a video in which CLI patients and doctors involved with the clinical trials share their stories. CLICK HERE to see Pluristem’s cell therapy product animation on YouTube.
Contact:
Pluristem Therapeutics Inc.
William Prather R.Ph., M.D.
Sr. VP Corporate Development
+1-303-883-4954
William.PratherMD@pluristem.com
Media Contact:
Matthew Krieger
Ruder Finn – for Pluristem
+972-54-467-6950
matthew@ruderfinn.co.il
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we are using forward looking statements when we say that our placenta-derived cell therapy, PLX-PAD, is potentially safe and improves quality of life as well as other efficacy measurements in patients with Critical Limb Ischemia or when we say that we plan to build a state of the art development facility that will allow Pluristem to produce large quantities of therapeutics at the highest quality levels, enabling the company to provide relief to millions of patients around the world, or when we say that data from phase I/IIa studies indicate Pluristem’s first PLX product, PLX-PAD, is potentially safe and effective for the treatment of end stage Peripheral Artery Disease, or that Pluristem’s pre-clinical animal models have demonstrated PLX cells are also potentially effective in nerve pain and muscle damage when administered locally and in inflammatory bowel disease, MS and stroke when administered systemically. These forward-looking statements 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; we may encounter delays or obstacles in launching our clinical trials; our technology may not be validated as we progress further and our methods may not be accepted by the scientific community; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties may develop with our process; our products may wind up being more expensive than we anticipate; results in the laboratory may not translate to equally good results in real surgical settings; our patents may not be sufficient; our products may harm recipients; changes in legislation; 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.
|
|
|
|
|
|
|
