Pluristem Therapeutics Enters into Cell Thawing Device License Agreement with Chart Industries, Inc.

Wednesday, December 05, 2018

Pluristem Therapeutics Inc., a leading regenerative medicine company developing novel placenta-based cell therapy products, today 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. Per the terms of the agreement, Chart obtains the exclusive rights to manufacture and market the 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.

Pluristem’s 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 result in the leading thawing devices on the market.

“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,” said Yaky Yanay, Co-Chief Executive Officer and President of Pluristem. “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.”         

“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,” said Buzz Bies, Vice President and GM Chart Inc. – Cold Storage Sales. “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.”

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