PLURISTEM THERAPEUTICS INC. (NASDAQ:PSTI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
PLURISTEM THERAPEUTICS INC. (NASDAQ:PSTI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 23, 2019, the Board of Directors of Pluristem Therapeutics Inc. (the “Company”) approved the completion of the transition period of the Co-Chief Executive Officer structure and appointed Yaky Yanay to serve as the sole Chief Executive Officer of the Company, effective immediately. In addition, the Board of Directors of the Company and Mr. Zami Aberman mutually agreed that Mr. Aberman will cease to serve as Co-Chief Executive Officer of the Company and the Board of Directors appointed Mr. Aberman as the Executive Chairman of the Board of Directors of the Company, effective immediately.
About PLURISTEM THERAPEUTICS INC. (NASDAQ:PSTI)
Pluristem Therapeutics Inc. is a developer of placenta-based cell therapy product candidates for the treatment of multiple ischemic, inflammatory and hematologic conditions. The Company’s lead indications are critical limb ischemia (CLI), recovery after surgery for femoral neck fracture and acute radiation syndrome. Its operations are focused on the research, development, clinical trials and manufacturing of cell therapeutics and related technologies. The Company’s products include PLX-PAD and PLX R18. The Company’s PLX cells are adherent stromal cells (ASCs) that are expanded using a three dimensional (3D) process. The system utilizes a synthetic scaffold to create an artificial 3D environment where placental-derived stromal cells can grow. The Company’s PLX products are administered using a standard needle and syringe. The Company’s PLX products are in clinical-stage development for multiple indications, such as cardiovascular, orthopedic, pulmonary and women’s health diseases.
