Healthcare Industry News: embryonic stem cell
News Release - January 16, 2007
Pluristem Appoints Dr. William R. Prather as Senior VP of Corporate Development
NEW YORK--(HSMN NewsFeed)--Pluristem Life Systems, Inc. (OTCBB:PLRS ), a cell therapy company dedicated to the commercialization of stem cell products, today announced that it has engaged William R. Prather, RPh, M. D., an experienced business executive and seasoned analyst of the biotechnology industry, to serve as the Company's Senior VP of Corporate Development.Dr. Prather has over 20 years of experience analyzing and being involved in a variety of investment banking activities for healthcare companies. Having served as a Board Member and Senior Vice President, Finance and Business Development for Boston Biomedica, Inc., a public medical diagnostics company, Dr. Prather previously held Senior Healthcare analytical positions at Oscar Gruss and Sons, Cruttenden Roth, Inc., Bathgate Capital Partners LLC, and Hanifen Imhoff, Inc. He sat on the boards of Boston Biomedica Inc.; PriMed, a private medical device company; MdBio, a Maryland healthcare venture firm; and the Advisory Board of MDS Capital Management, a Canadian venture firm. Additionally, Dr. Prather is a co-founder of Panacos Pharmaceuticals, Inc., (Nasdaq:PANC ) a public pharmaceutical company, and founder of OsteoSeek, Inc. a private drug delivery company. Having received a BS in Pharmacy and medical degree from the University of Missouri, he completed a clinical fellowship at Harvard Medical School.
Zami Aberman, Pluristem CEO states, "We are delighted that Dr. Prather has joined our staff and proud to have a team member onboard with such vast business experience and extensive industry connections. I am most certain that he can make an important contribution towards enhancing our North American activities developing strategies for our Company as we move forward into the critical clinical trial arena."
Dr. Prather comments, "I believe Pluristem's proprietary, innovative PLacenta eXpanded Mesenchymal cell (PLX) technology is on the cutting edge of stem cell therapy. I believe it offers several advantages over other stem cell technologies, is easy to collect, and does not present the ethical concerns that have been raised with embryonic stem cells. In all likelihood, the PLX technology is immunologically privileged and offers a significant advantage to patients facing immune reactions to cell therapy such as autoimmune disorders. I am very proud to be part of Pluristem."
About Pluristem
Pluristem Life Systems, Inc. is life sciences driven company that is developing and commercializing stem cell expansion technology products for the potential treatment of a variety of disorders. The Company is discovering and developing cell-based therapeutics that utilizes adult stem cells expanded in a proprietary bioreactor mimicking different naturally occurring physiological environments. Pluristem expects its first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation. Its first adult stem cell product is intended to target a critical global shortfall of matched tissue for bone marrow transplantation since bone marrow transplantation is often the only cure for patients suffering from leukemia, lymphoma, myeloma and many other hematological diseases. The Company has made a strategic decision to work only with adult stem cells since the practical use of embryonic stem cells is severely restricted by various religious, ethical and legal considerations.
www.pluristem.com
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" regarding our intent, belief or current expectations. Forward-looking statements in this release include statements: that Dr. Prather will develop strategies for enhancing our North American activities; that PLX technology is immunologically privileged and offers a significant advantage to patients facing immune reactions to cell therapy such as autoimmune disorders, that our company have developed a solution that could be used to replace the traditional bone marrow transplant search and match process; that we expect our first products to be cell grafts that will provide an efficient and superior alternative to the standard procedure of bone marrow transplantation; and our first adult stem cell product targets a critical global shortfall of matched tissue for bone marrow transplantation. Factors which may significantly change or prevent our forward looking statements from fruition include: that our patents are not sufficient to protect essential aspects of our technology; that competitors may invent better technology; that our products may not work as well as hoped or worse, that our products may harm recipients; and that we may not be able raise funds for development or working capital when we require it. As well, our products may never develop into useful products and even if they do, they may not be approved for sale to the public. For further risk factors see the Company's latest 10-KSB filed with the SEC.
Source: Pluristem Life Systems
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