Israeli-based Pluristem and Abu Dhabi Stem Cells Center sign deal to collaborate in development of cell therapies
Agreement comes just days after Israel and the United Arab Emirates (UAE) announce intention to fully normalize diplomatic relations
However, unofficially, an extensive financial relationship between the two has been ongoing for years. It is estimated that about 200 Israeli companies are already exporting products to the UAE, and another is set to join them soon, after Pluristem Therapeutics Inc., a regenerative medicine company developing a platform of novel biological therapeutic products, announced on Monday that its subsidiary, Pluristem Ltd., has signed a non-binding Memorandum of Understanding (MOU) with the United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC), a specialist healthcare center focused on cell therapy and regenerative medicine.
Executives from both companies took part in a signing ceremony held via video conference between Israel and the UAE. "The aim of the collaboration is to capitalize on each company’s respective areas of expertise in cell therapies to deliver regenerative medicine for the benefit not only of the citizens of the UAE and Israel, but for humanity as a whole. The collaboration between the parties was initiated by the Better Alternatives advisory firm," read the company’s statement.
The parties have agreed to exchange research results, share samples, join usage of equipment and testing, and other essential activities related to advancing the treatment and research of cell therapies for a broad range of medical conditions, including Covid-19.
“We are extremely proud to partner with our colleagues at the ADSCC by sharing knowledge and expertise that we believe will advance healthcare within and across our borders," stated Pluristem CEO and President Yaky Yanay. "We see life science and regenerative medicine as a bridge for building peace, prosperity, and well-being in our region and for the entire world. I believe it is our obligation and privilege as business and scientific leaders to lead the way forward to strengthen collaborations, and promote innovation and education. We are honored to be on the front line of this historical moment."
ADSCC has been treating COVID-19 patients with stem cells sourced from the patient’s blood, by returning the cells back into the patient’s lungs as a fine mist through a nebulizer, a machine that helps a patient inhale medicine through a mask or mouthpiece. Pluristem has treated patients with its placental PLX-PAD allogeneic product via compassionate use programs in Israel and the U.S. and is currently conducting phase II studies in the U.S. and Europe.
"Pluristem is a major player in the cell therapy field with years of experience, a unique platform and a robust clinical pipeline," said Yendry Ventura, General Manager of the ADSCC. "We are excited to join forces and to promote the research and development of cell therapies for the best of the patients and the human society as a whole."