Message #27 From:
Stock News Bot Date: January 16, 2007 04:30:00 AM
PLRS News Pluristem Appoints Dr. William R. Prather as Senior VP of Corporate Development
NEW YORK--(BUSINESS WIRE)--Pluristem Life Systems, Inc. (OTCBB:PLRS), a cell therapy company
dedicated to the commercialization of stem cell products, today
announced that it has engaged William R. Prather, RPh, M. D., an
experienced business executive and seasoned analyst of the biotechnology
industry, to serve as the Company’s Senior VP
of Corporate Development.
Dr. Prather has over 20 years of experience analyzing and being involved
in a variety of investment banking activities for healthcare companies.
Having served as a Board Member and Senior Vice President, Finance and
Business Development for Boston Biomedica, Inc., a public medical
diagnostics company, Dr. Prather previously held Senior Healthcare
analytical positions at Oscar Gruss and Sons, Cruttenden Roth, Inc.,
Bathgate Capital Partners LLC, and Hanifen Imhoff, Inc. He sat on the
boards of Boston Biomedica Inc.; PriMed, a private medical device
company; MdBio, a Maryland healthcare venture firm; and the Advisory
Board of MDS Capital Management, a Canadian venture firm. Additionally,
Dr. Prather is a co-founder of Panacos Pharmaceuticals, Inc.,
(Nasdaq:PANC) a public pharmaceutical company, and founder of OsteoSeek,
Inc. a private drug delivery company. Having received a BS in Pharmacy
and medical degree from the University of Missouri, he completed a
clinical fellowship at Harvard Medical School.
Zami Aberman, Pluristem CEO states, "We are delighted that Dr. Prather
has joined our staff and proud to have a team member onboard with such
vast business experience and extensive industry connections. I am most
certain that he can make an important contribution towards enhancing our
North American activities developing strategies for our Company as we
move forward into the critical clinical trial arena.”
Dr. Prather comments, “I believe Pluristem’s
proprietary, innovative PLacenta eXpanded Mesenchymal cell (PLX)
technology is on the cutting edge of stem cell therapy. I believe it
offers several advantages over other stem cell technologies, is easy to
collect, and does not present the ethical concerns that have been raised
with embryonic stem cells. In all likelihood, the PLX technology is
immunologically privileged and offers a significant advantage to
patients facing immune reactions to cell therapy such as autoimmune
disorders. I am very proud to be part of Pluristem.”
About Pluristem
Pluristem Life Systems, Inc. is life sciences driven company that is
developing and commercializing stem cell expansion technology products
for the potential treatment of a variety of 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 Dr. Prather will develop strategies for enhancing our
North American activities; that PLX technology is immunologically
privileged and offers a significant advantage to patients facing immune
reactions to cell therapy such as autoimmune disorders, that our company
have developed 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 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.
