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4-Traders Homepage  >  Equities  >  Nasdaq  >  Pluristem Therapeutics Inc.    PSTI

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Pluristem Therapeutics Inc. : Pluristem Receives Approval to Expand Its Phase II Clinical Trial in Intermittent Claudication to Germany

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01/15/2013 | 10:52am CEST

HAIFA, ISRAEL, January 15, 2013- Pluristem Therapeutics, Inc.(NASDAQCM:PSTI; TASE:PLTR), a leading developer of placenta-derived cell therapies, announced today that the Paul-Ehrlich-Institute (PEI), the medical regulatory body for biological medicinal products for the Federal Republic of Germany, has approved the company's request to initiate a Phase II study using PLX-PAD cells in patients suffering from Intermittent Claudication (IC). IC is a subset of Peripheral Artery Disease (PAD). According to The SAGE Group and HCUP 2007 Inpatient Data, the prevalence of IC in the United States is approximately 14 million patients, representing a cost of approximately $2.5 billion annually to the healthcare system.

"This approval is part of our previously announced strategy to conduct a multi-national study using our PLX-PAD cells in this disorder," said Zami Aberman, Chairman and CEO of Pluristem. "We are in the process of opening three clinical sites in Germany where the protocol will be same as the one used in the U.S. which has already begun enrolling and dosing patients. Additionally, we plan to expand into clinical sites in Israel, following regulatory approval."

About the Study

Pluristem's IC Phase II is a randomized, placebo-controlled trial that will evaluate the safety and efficacy of two doses of PLX-PAD cells versus placebo, administered via intramuscular injections. The study protocol is comprised of approximately 150 patients with IC: Fontaine class IIb, Rutherford category 2-3.

The primary efficacy end point of the trial is the change in the maximal walking distance from baseline during an exercise treadmill test. Secondary endpoints are hemodynamic and quality of life measurements. Safety parameters are also being assessed.

About Intermittent Claudication

IC is a subset of PAD caused by atherosclerosis of the lower extremity arteries. IC is characterized by muscle pain, such as aching, cramping, numbness or a sense of fatigue classically in the calf muscle, which occurs during exercise, such as walking and is relieved by a period of rest. The prevalence of IC in the United States alone is approximately 14 million patients and representing a cost of approximately $2.5 billion annually to the National Healthcare Bill (References: The SAGE Group and HCUP 2007 Inpatient Data).

About Pluristem Therapeutics

Pluristem Therapeutics Inc. (NASDAQCM:PSTI) (TASE:PLTR) is a leading developer of placenta-based cell therapies. The Company's patented PLX (PLacental eXpanded) cells are a drug delivery platform that releases a cocktail of therapeutic proteins in response to a host of local and systemic inflammatory and ischemic 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. Pluristem is focusing on the development of PLX cells administered locally to potentially treat systemic diseases and potentially obviating the need to use the intravenous route.

Pluristem has a strong patent and patent applications portfolio, company-owned GMP certified manufacturing and research facilities, strategic relationships with major research institutions and a seasoned management team. For more information visitwww.pluristem.com, the content of which is not part of this press release.

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, we are using forward-looking statements when we discuss the process of opening three clinical sites in Germany or our plan to expand into clinical sites in Israel, following regulatory approval. 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 and/or successfully completing our clinical trials; our products may not be approved by regulatory agencies, 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; results of preclinical studies may not correlate with the results of human clinical trials; 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.

Contact:

Pluristem Therapeutics Inc.:

William Prather R.Ph., M.D. Sr. VP Corporate Development

1-303-883-4954

William.PratherMD@pluristem.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it

Daya Lettvin
Investor & Media Relations Director
+972-54-674-5580
daya@pluristem.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it

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Financials ($)
Sales 2016 2,85 M
EBIT 2016 -24,3 M
Net income 2016 -23,6 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 43,1x
Capi. / Sales 2017 152x
Capitalization 123 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 4,17 $
Spread / Average Target 172%
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NameTitle
Zami Aberman Chairman & Chief Executive Officer
Yaky Yanay President, COO, CFO, Secretary & Director
Esther Lukasiewicz-Hagai Vice President-Clinical & Medical Affairs
Mark S. Germain Director
Nachum Rosman Independent Director
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