Pluristem Gets Grant From Israel To Market For PLX Cell Therapy In Japan

(RTTNews) - Pluristem Therapeutics Inc. (PSTI), a developer of placenta-based cell therapy products, announced Wednesday that it has been awarded a Smart Money grant from Israel's Ministry of Economy.

The program's aim is to assist companies to extend their activities in international markets. The Israeli government will grant Pluristem budget and resources for the marketing of its advanced cell therapy products in Japan and for regulatory activities there.

Pluristem said it will also receive assistance from Israel's trade attachés stationed in Japan, and from experts appointed especially by the Smart Money program. In this first round of the program seventy-nine requests were submitted, of which thirty-nine were approved.

Pluristem recently announced that Japan's Pharmaceuticals and Medical Devices Agency agreed to the proposed quality and large-scale manufacturing methods for PLX-PAD cells for use in clinical trials. This is an important prerequisite for initiation of a Phase I/II study in critical limb ischemia via Japan's Accelerated Pathway for Regenerative Medicine. The new regulatory pathway can significantly reduce time to market for regenerative therapies such as PLX cells.Pluristem gets Grant From Israel's Ministry of Economy to Market PLX Cell Therapy in Japan

Pluristem Therapeutics Inc. (PSTI), a developer of placenta-based cell therapy products, announced Wednesday that it has been awarded a Smart Money grant from Israel's Ministry of Economy.

The program's aim is to assist companies to extend their activities in international markets. The Israeli government will grant Pluristem budget and resources for the marketing of its advanced cell therapy products in Japan and for regulatory activities there.

Pluristem said it will also receive assistance from Israel's trade attachés stationed in Japan, and from experts appointed especially by the Smart Money program. In this first round of the program seventy-nine requests were submitted, of which thirty-nine were approved.

Pluristem recently announced that Japan's Pharmaceuticals and Medical Devices Agency agreed to the proposed quality and large-scale manufacturing methods for PLX-PAD cells for use in clinical trials. This is an important prerequisite for initiation of a Phase I/II study in critical limb ischemia via Japan's Accelerated Pathway for Regenerative Medicine. The new regulatory pathway can significantly reduce time to market for regenerative therapies such as PLX cells.