Pluristem Files Patent Application for the Use of its Advanced Manufacturing Technology in the Cannabis Industry
May 06 2019 - 7:00AM
Pluristem Therapeutics Inc. (Nasdaq:PSTI)
(TASE:PSTI), a leading regenerative medicine company
developing novel placenta-based cell therapy products, today
announced that it has filed a U.S. provisional patent application
titled “Methods and Compositions for Producing Cannabinoids,” which
covers the use of Pluristem’s state-of-the-art, proprietary 3-D
cell culturing technology for the potential manufacturing of
cannabinoid-producing cells.
The potential of successful adaptation to the
industrial production of cannabinoid is to shift the cannabis
industry from agriculture-based growing, which consists of
resource-intensive and low-yield processes, into a full Good
Manufacturing Practice (GMP) 3-D cell culturing platform for
growing and expanding cannabinoid-producing cells in an automated
and controlled manner at potentially significantly higher scales
with the batch-to-batch consistency of commercial-grade
products.
“We believe that Pluristem’s key competitive
advantage is its advanced manufacturing platform that we developed
in order to secure our leading position in the cell therapy
industry with several product candidates in phase III studies,”
said Pluristem President and Co-CEO, Yaky Yanay. “Any future
development with respect to cannabinoid producing cells is expected
to include third party funding of development expenses. Further, in
exploring such development, Pluristem intends to comply with
applicable regulations and Nasdaq standards.”
“We believe that the cannabis industry could be
a very attractive opportunity to further leverage our advanced
technology and manufacturing capabilities, while maintaining our
competitive advantage in the cellular therapy field,” added Mr.
Yanay. “Pluristem’s management team is focused on the advancement
of our PLX cell therapy products and is making the necessary
preparations for entering the marketing phase. In parallel, we look
forward to further exploring the potential contribution our
technology has on developing next-generation cannabinoid production
while also potentially creating significant value for Pluristem’s
shareholders.”
About Pluristem
TherapeuticsPluristem Therapeutics Inc. is a leading
regenerative medicine company developing novel placenta-based cell
therapy product candidates. The Company has reported robust
clinical trial data in multiple indications for its patented PLX
cell product candidates and is currently conducting late stage
clinical trials in several indications. PLX cell product candidates
are believed to 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; a
Company-owned and operated GMP-certified manufacturing and research
facility; strategic relationships with major research institutions;
and a seasoned management team.
Safe Harbor StatementThis 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 it discusses that is exploring the
opportunity to utilize its proprietary 3-D cell culturing
technology in the manufacturing of cannabinoid-producing cells,
that any future development with respect to cannabinoid producing
cells is expected to include third party funding of development
expenses, that in exploring its cannabis related technology,
Pluristem intends to comply with applicable regulations and Nasdaq
listing standards, its belief that the cannabis industry
could be a very attractive opportunity to further leverage its
advanced technology and manufacturing capabilities and that while
its management is focused on preparing for marketing approval of
its PLX cells, it is also looking forward to further exploring the
potential contribution its technology has on developing
next-generation cannabinoid production while also potentially
creating significant shareholder value. 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.
Contact:Efrat Kaduri Director of Business,
Investor and Public Relations972-74-7108600efratk@pluristem.com
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