Full Press Release Details
Announces a Reverse Stock Split in Conjunction with Its Application for Listing
on the NASDAQ Capital Market
YORK-- (BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS.OB
DAX: PJT), a bio-therapeutics Company dedicated to the commercialization of
non-personalized (allogeneic) cell therapy products for a variety of malignant,
degenerative and auto-immune indications, announced today that it intends to
effect a 200 to 1 reverse stock split in conjunction with an application,
previously filed, to list its shares on the NASDAQ Capital Market.
Aberman, Pluristem's President and CEO commented, "The NASDAQ application is
part of our strategy to strengthen Pluristem's financial position, broadening
the availability of our stock to both institutional and individual investors".
Life Systems, Inc. is a Company dedicated to the commercialization of
non-personalized (allogeneic) stem cell therapy products for the treatment
numerous severe degenerative, malignant and autoimmune disorders. The Company's
first product, PLX-I, is directed at resolving the global shortfall of matched
tissue for bone marrow transplantation (BMT) by improving the engraftment of
hematopoietic stem cells (HSCs) contained in umbilical cord blood (UCB).
products are derived from mesenchymal stromal cells (MSCs) obtained from the
placenta and are not embryonic stem cells. They are expanded in the Company's
proprietary PluriXTM
bioreactor that imitates the natural microstructure of bone marrow and does
require supplemental growth factors, cytokines or other exogenous materials.
Pluristem believes the resultant expanded cells, termed PLX cells, are
multi-potent and able to differentiate into a variety of cell types as well
being immune-privileged to protect the recipient from immunological reactions
that often accompany transplantation.
has offices in the USA with research and manufacturing facilities in Israel.
press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
and federal securities laws. These forward-looking statements are based on
current expectations of the management of Pluristem only, and are subject to
number of factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. For example,
when we speak about our planned reverse stock split and our application to
our shares on the Nasdaq Capital Market, we are using forward-looking
statements. We may not be approved for listing on Nasdaq. 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; our technology may not be validated as we progress further and
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; results in the laboratory may not translate to equally good results
real surgical settings; our patents may not be sufficient ;our products may
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
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 risk and uncertainties affecting Pluristem, reference is
to Pluristem's reports filed from time to time with the Securities and Exchange
information visit our website at www.pluristem.com,
content of which is not part of this press release.
Prather, 303-883-4954
Corporate Development
Yanay, 972-74-710-7171
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Pluristem Life Systems, Inc.