Date: 2012-01-18
Type of information: Grant
Company: Pluristem Therapeutics (Israel)
Investors: Office of the Chief Scientist (OCS -Israel)
Amount: NIS 9 million (approximately $2.4 million - €1.8 million)
Funding type: grant
Planned used: The grant will be used to cover R&D expenses for the period March 2011 to February 2012.
Others: Pluristem Therapeutics has received approval for a NIS 9 million (approximately $2.4 million) grant from the Office of the Chief Scientist (OCS) within the Israeli Ministry of Industry, Trade and Labor. The company\'s patented PLX (PLacental eXpanded) cells drug delivery platform releases a cocktail of therapeutic proteins in response to a variety of local and systemic inflammatory 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 or immune-suppression treatment prior to administration. Data from two Phase I safety and dose determining clinical trials indicate that Pluristem’s first PLX product candidate, PLX-PAD, is safe and potentially effective for the treatment of end stage peripheral artery disease. Pluristem’s pre-clinical animal models have demonstrated PLX cells are also potentially effective in treating nerve pain and muscle damage when administered locally and in inflammatory bowel disease, MS and stroke when administered systemically.
Therapeutic area: Cardiovascular diseases - Regenerative medicine
