Pluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT: PLTR) will expand its R&D on use of its PLX placental stem cells to treat acute radiation exposure, following preliminary discussions with several government authorities.
Pluristem reported success in a preclinical study of its PLX cells for the treatment of radiation exposure. The trial was conducted by Prof. Raphael Gorodetsky Sharett Institute of Oncology at Hadassah Medical Center in Jerusalem. The PLX cells were found to mitigate acute radiation syndrome when administered to animals 24 hours after they were given lethal doses of radiation. The survival rate was a statistically significant 3-4 times the survival rate of untreated animals, and bone marrow cells were significantly improved.
Pluristem director of business development Dr. Liat Flaishon will lead the company's development effort. She previously was Drug Safety Risk Management director at Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).
Pluristem chairman and CEO Zami Aberman said, "Following announcement regarding our initial studies on radiation treatment, we have seen significant interest in our radiation product candidate. Currently, there is an extensive search for an easily administered and effective product for radiation countermeasures. We believe that our PLX cells have the potential to both extend the window of treatment for radiation victims and to become an off-the-shelf nuclear catastrophe countermeasure product."
Pluristem's share price fell 1.8% by mid-afternoon on the TASE today to NIS 9.42, after falling 1.5% on Nasdaq yesterday to $2.56, giving a market cap of $112 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2012
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