Stem cell company Pluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT) has raised $5.25 million from institutional and private investors in Israel and the US. One of the investors is former Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) VP Ami Rosenfeld.
Pluristem's share is currently being traded at $1.39 on Nasdaq giving a market cap of $30.34 million.
The investment will help the company reach the $35 million market cap threshold to dual list on the TASE, although the company has still not officially said that it will do so.
Pluristem chairman, president and CEO Zami Aberman said that the money raised will be used to push forward the company's clinical trials. Last month the company reported positive results for a clinical trial for cell therapies derived from human placenta on 21 patients suffering from critical limb ischemia (CLI). The patients had improved blood flow to their legs.
Published by Globes, Israel business news - www.globes-online.com - on October 12, 2010
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