Cell therapy biotechnology company Pluristem Life Systems (OTC BB: PLRS) announced on Thursday that it has filed a pre-Investigational new drug (Pre-IND) document to the US Food and Drug Administration (FDA) for PLX-I, its first product.
Pluristem’s product treats blood cancer and blood disorders through the use of umbilical cord blood stem cells. These stems cells are already being used to treat blood cancer but treatment is limited to children since the quantity of stem cells in one transfusion of cord blood would be insufficient for the treatment of adults. These are treated by bone marrow transplants, but this is a more complicated process that requires a larger degree of compatibility between recipient and donor, which means that patients often cannot a find someone whose bone marrow would be a suitable match.
Pluristem’s PLX-1 improves the engraftment of umbilical cord blood cells, thereby enabling their proliferation after transfusion of blood to patients. As a result, it will also enable adult cancer patients to be treated with umbilical cord blood rather than other means.
Pluristem was formed out of a reverse merger with a shell company. It gained 9% following its announcement, and it currently has a market cap of $4.9 million. The company is reportedly planning to dual list on the Tel Aviv Stock Exchange (TASE).
Published by Globes [online], Israel business news - www.globes.co.il - on January 7, 2007
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