Pluristem Therapeutics Inc., has announced that it has entered into a license agreement with a subsidiary of Chart Industries, Inc., regarding Pluristem’s thawing device for cell-based therapies.
Pluristem Therapeutics Inc., founded in 2003, headquartered in Haifa, Israel, is a leading regenerative medicine company developing novel placenta-based cell therapy products. The Company has reported robust clinical trial data in multiple indications for its patented PLX cells and is entering late stage trials in several indications.
PLX cell products release a range of therapeutic proteins in response to inflammation, ischemia, muscle trauma, hematological disorders, and radiation damage. The cells are grown using the Company’s proprietary three-dimensional expansion technology and can be administered to patients off-the-shelf, without tissue matching.
Pluristem has a strong intellectual property position; Company-owned and operated, GMP-certified manufacturing and research facilities; strategic relationships with major research institutions; and a seasoned management team.
Founded in 1992, headquartered in Ohio City, USA, Chart is a leading diversified global manufacturer of highly engineered equipment for the industrial gas, energy, and biomedical industries. Chart has operations across the United States and an international presence in Asia, Australia, Europe and Latin America.
According to the agreement, Chart obtains the exclusive rights to manufacture and market Pluristem’s point-of-care thawing device in all territories worldwide, excluding China, with Pluristem receiving royalties from sales of the product and supply of an agreed number of devices.
The point-of-care thawing device technology is designed to allow for the precise and automated thawing of cells in a controlled and monitored environment, and is expected to result in the highest levels of cell viability and quality. The technology includes many advanced unique proprietary features which were designed to combine to form a leading thawing device.
“Regenerative medicine and cellular therapies products are making significant progress towards market, and we need to make sure the enabling tools are in place. In order to get the best clinical efficacy outcome we need a full control of the cold chain, including, most importantly, the most effective method of thawing of cells before treatment of patients,” … “We are extremely pleased to have Chart Industries, Inc., a global leader in cryogenic equipment, as our marketing and manufacturing partner, and look forward to working with Chart to bring our thawing device technologies to clinical centers and labs across the globe.” – Yaky Yanay, Co-Chief Executive Officer and President of Pluristem
“For more than 50 years, Chart Industries, Inc., has been a leading innovator in the cryogenic freezing and storage of biological materials that are critical to the life sciences industry, including human tissue, cord blood, bone marrow and stem cells,” … “I believe Pluristem’s best-in-class cellular thawing device is a perfect complement to Chart’s portfolio of solutions, and we look forward to offering this technology to our customer base worldwide.” – Buzz Bies, VicePresident and GM Chart Inc. – Cold Storage Sales