The company expects to begin clinical trials this year for its product for new blood vessel growth this year.
Biotherapeutics company Pluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT) has raised $1 million in a private placement held at a 44% premium on its market price. The placement comprises 900,000 shares at $1.15 per share and a five year warrant for 675,000 shares at a strike price of $1.90. The company did not disclose the investor.
Pluristem rose 4.5% yesterday to $0.93, giving a market cap of $6.4 million.
The company expects to begin clinical trials this year for its PLX-PAD cellular product for new blood vessel growth for the treatment of critical limb ischemia, caused by Peripheral Artery Disease.
Published by Globes [online], Israel business news - www.globes-online.com - on September 25, 2008
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