The funds raised will enable Pluristem to conduct a clinical trial.
Biotherapeutics developerPluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT) has raised $1.3 million. The company reported that the new investor is a foreign fund specializing in life sciences but did not disclose the name of the investor.
Pluristem has already raised NIS 10 million in recent months from the Chief Scientist and a private investor.
Pluristem’s president and CEO Zami Aberman said, "We will use these funds to strengthen our balance sheet while initiating our clinical trials in the USA and Europe for our PLX-PAD product. PLX-PAD is intended to improve the quality of life of millions of people suffering from peripheral artery disease."
Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2009
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