The company's first product is designed to to resolve the global shortfall of matched tissue for bone marrow transplantation.
Pluristem Life Systems Ltd. (Bulletin Board:PLRS) plans to make a 200 to 1 reverse stock split in conjunction with a previously filed application to list its shares on the Nasdaq Capital Market.
Pluristem president and CEO Zami Aberman said, “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.”
Pluristem develops non-personalized (allogeneic) cell therapy products for a variety of malignant, degenerative and auto-immune indications. Its first planned product, PLX-I, is intended to resolve the global shortfall of matched tissue for bone marrow transplantation by improving the engraftment of hematopoietic stem cells contained umbilical cord blood. The company estimates this market at $2 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2007
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