Pluristem Therapeutics Ltd.(TASE:PSTI;Nasdaq:PSTI; DAX: PJT), the Berlin-Brandenburg Center for Regenerative Therapies (BCRT) and the Charite - University of Medicine in Berlin today announced the results of a pre-clinical study demonstrating that the local administration of PLX cells following muscle injury resulted in significant improvement in the recovery of muscle function when compared with the control group. This study suggests that Pluristem's PLX cells have the potential to treat both accidental and intentionally induced muscle injuries.
Subject to regulatory approval, Pluristem plans on proceeding with clinical trials for muscle injury indications. These trials will be conducted in addition to the anticipated Phase II/III trial using PLX-PAD for the treatment of Critical Limb Ischemia.
The data from the study indicates that PLX cells can be used in several types of muscle injury, including accidental injuries, such as those incurred during sports, as well as intentional injuries, such as after the incision of a skeletal muscle during surgery. These represent a potential market of $10 billion annually.
Based on the pre-clinical studies, Pluristem has initiated discussions with the Paul Ehrlich Institute (PEI), the German competent authority, for a clinical development plan in which PLX cells will be used as a therapy for the recovery of muscle function following hip replacement surgery.
Pluristem chairman, president and CEO Zami Alberman said, "The successful completion of these pre-clinical studies is very exciting for Pluristem, as it opens an additional, and potentially very lucrative, product candidate in our PLX platform pipeline."
Pluristem's share price rose 6.6% on the TASE this afternoon to NIS 9.64. The share price was also up 8.1% in pre-market trading on Nasdaq today to NIS 2.67, giving a market cap of $102.07 million.
Published by Globes, Israel business news - www.globes-online.com - on March 1, 2011
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