Pluristem Completes Transition Period of Co-CEO Structure Yaky Yanay appointed as Chief Executive Officer and Zami Aberman appointed as Executive Chairman of the Board
HAIFA, Israel, June 24, 2019 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PSTI), a leading regenerative medicine company developing novel placenta-based cell therapy products, today announced the completion of the transition period of its Co-CEO structure and the appointment of Yaky Yanay as sole Chief Executive Officer and President of Pluristem and the appointment of Zami Aberman as Executive Chairman of the Board.
“I am proud and pleased in successfully completing the transition period and the appointment of Yaky as Pluristem’s sole CEO,” said Zami Aberman. “As Executive Chairman I will continue to take an active role in shaping Pluristem’s corporate development and business strategy as we are advancing towards completion of our phase III studies and targeting our marketing phase. For the past two years, the Co-CEO structure has served us well, and now allows us to implement this transition as seamlessly as possible. Pluristem today holds major assets and I look forward to continuing to serve Pluristem as Executive Chairman and to work with Yaky and the team to generate value for these assets. I am delighted with this appointment and I am confident in Yaky’s capabilities to lead the company to become a global leader in the development, manufacture and marketing of Pluristem’s novel cell-based therapeutics.”
“In the last thirteen years, I proudly served Pluristem in different roles under Zami’s leadership,” said Yaky Yanay. “During these years, we were able to grow Pluristem from an early stage R&D company to a multi-phase III studies company targeting major markets. Our PLX technology is a powerful technology that is aimed to save lives, increase quality of life and could have a major economic positive impact on the global healthcare system. I am honored with this appointment and I would like to thank Zami and the Board of Directors for their trust. My mission now is to lead Pluristem to become a large, successful, profitable company that will impact the medical world for the benefit of our patients, shareholders, employees and partners.”
About Pluristem Therapeutics
Pluristem Therapeutics Inc. is a leading regenerative medicine company developing novel placenta-based cell therapy product candidates. The Company has reported robust clinical trial data in multiple indications for its patented PLX cell product candidates and is currently conducting late stage clinical trials in several indications. PLX cell product candidates are believed to 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; a Company-owned and operated GMP-certified manufacturing and research facility; strategic relationships with major research institutions; and a seasoned management team.
Safe Harbor Statement
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Pluristem is using forward-looking statements when it discusses its advance towards completion of its phase III studies and targeting its marketing phase; generation of value for its assets; becoming a global leader in the development, manufacture and marketing of Pluristem’s novel cell-based therapeutics; its ability to save lives, increase quality of life and have a major economic positive impact on the global healthcare system; and its ability to become a large, successful, profitable company that will impact the medical world for the benefit of its patients, shareholders, employees and partners. These forward-looking statements and their implications are based on the current expectations of the management of Pluristem only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; Pluristem may encounter delays or obstacles in launching and/or successfully completing its clinical trials; Pluristem’s products may not be approved by regulatory agencies, Pluristem’s technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; Pluristem may be unable to retain or attract key employees whose knowledge is essential to the development of its products; unforeseen scientific difficulties may develop with Pluristem’s process; Pluristem’s products may wind up being more expensive than it anticipates; results in the laboratory may not translate to equally good results in real clinical settings; results of preclinical studies may not correlate with the results of human clinical trials; Pluristem’s patents may not be sufficient; Pluristem’s products may harm recipients; changes in legislation may adversely impact Pluristem; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Pluristem to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Pluristem undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Pluristem, reference is made to Pluristem's reports filed from time to time with the Securities and Exchange Commission.
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