HAIFA, Israel--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB: PLRS), a cell therapy company
dedicated to the commercialization of stem cell products, today
announced that the Board of Directors has appointed Yaky Yanay as Chief
Financial Officer and Company Secretary, replacing Yossi Keret in this
position.
Prior to joining Pluristem, Mr. Yanay was the Chief Financial Officer of
Elbit Vision System Ltd (EVSNF.OB) a company engaged in automatic
optical inspection. He has had extensive experience in financing and
management of technology companies, and played a major role in planning
and executing a turn around plan of Elbit Vision System, including the
completion of three acquisitions and raising more than $20 million,
resulting in a tripling of the company’s
revenues and its attaining profitability.
Mr. Yanay began his financial career at Ernst & Young Israel in 1999,
where he served as a manager of audit groups of the technology sector.
He joined Ernst & Young’s financial team
after serving in the Israeli Ministry of Foreign Affairs since 1993.
Mr. Yanay holds a bachelor’s degree with honor
in business administration and accounting from the college of management
studies in Rishon Le Zion, Israel and is a Certified Public Accountant
in Israel.
Commenting on the nomination, Mr. Zami Aberman, Pluristem CEO, stated,”
We are very pleased that Yaky has decided to join our team. I believe
that he is the right man at the right time to help enable Pluristem to
accomplish its plans of becoming a leading provider of cell therapy
products that do not require a match, and target the critical global
shortfall of matched tissue for bone marrow transplantation - an unmet
need of more than 100,000 patients annually. I would like to thank Yossi
Keret for his devoted service and contributions during the past three
years and wish him successes in his new challenges.”
About Pluristem
Pluristem Life Systems, Inc. is life sciences driven company that is
developing and commercializing stem cell expansion technology products
for the treatment of severe blood disorders. The Company is discovering
and developing cell-based therapeutics that utilizes adult stem cells
expanded in a proprietary bioreactor mimicking different naturally
occurring physiological environments. Pluristem expects its first
products to be cell grafts that will provide an efficient and superior
alternative to the standard procedure of bone marrow transplantation.
Its first adult stem cell product is intended to target a critical
global shortfall of matched tissue for bone marrow transplantation since
bone marrow transplantation is often the only cure for patients
suffering from leukemia, lymphoma, myeloma and many other hematological
diseases. The Company has made a strategic decision to work only with
adult stem cells since the practical use of embryonic stem cells is
severely restricted by various religious, ethical and legal
considerations.
This press release contains statements, which may constitute
"forward-looking statements" regarding our intent, belief or current
expectations. Forward-looking statements in this release include
statements: that our company can become a leading provider of cell
therapy products that do not require a match; that we have achieved a
solution that could be used to replace the traditional bone marrow
transplant search and match process;; that we expect our first products
to be cell grafts that will provide an efficient and superior
alternative to the standard procedure of bone marrow transplantation;
and our first adult stem cell product targets a critical global
shortfall of matched tissue for bone marrow transplantation. Factors
which may significantly change or prevent our forward looking statements
from fruition include that the Congress may not proceed; that our VP Ora
Burger may not be able to appear and speak for some reason; that we may
be unsuccessful in developing any products; that our technology may not
be validated as we progress further and our methods may not be accepted
by the scientific community; that we are unable to retain or attract key
employees whose knowledge is essential to the development of our
products; that unforeseen scientific difficulties develop with our
process; that results in the laboratory do not translate to equally good
results in real surgical settings; that our patents are not sufficient
to protect essential aspects of our technology; that competitors may
invent better technology; that our products may not work as well as
hoped or worse, that our products may harm recipients; and that we may
not be able raise funds for development or working capital when we
require it. As well, our products may never develop into useful products
and even if they do, they may not be approved for sale to the public.
For further risk factors see the Company's latest 10-KSB filed with the
SEC.
