Shares of Pluristem Therapeutics Inc. (PSTI) gained around 6 percent in trading in Israel after the developer of placenta-based cell therapy products announced Wednesday that the Japan Patent Office has granted the Company two key patents.
One patent addresses Pluristem's core technology of three-dimensional expansion methods for producing therapeutic cell products derived from placental or fat cells. The second one is for the use of placenta-derived cells grown with this 3D technology to treat disorders of the hematopoietic system, such as disorders caused by exposure to radiation or chemotherapy, and failed engraftment of hematopoietic stem cell transplants.
Pluristem said it continues to strengthen its IP position in order to support the current negotiations with pharmaceutical companies in Japan regarding potential partnerships for the development and commercialization of its PLacental eXpanded or PLX cells.
The company recently received clearance for its protocol for a Phase 2 trial in critical limb ischemia targeting marketing approval in Japan, via Japan's accelerated regulatory pathway for regenerative medicines.
Pluristem Chairman and CEO Zami Aberman said, "Our proprietary process and technology for growing placenta-derived cells within a 3D microenvironment make large scale, cost effective cell therapy production a reality, and IP protection of these methods in Japan is a key asset. The use of these cells to treat disorders of the hematopoietic system is an important indication for PLX cells that is now protected in Japan."
In Israel, Pluristem shares were trading at 617 Israeli Shekel, up 6 percent.
In pre-market activity on Nasdaq, the shares were trading 7.84 percent higher at $1.53.
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