Pluristem invited by U.S. agency to submit stem cells for evaluation
Pluristem Therapeutics has received an invitation from the U.S. National Institutes of Health to submit its placenta-based stem cells to the agency for evaluation in treating acute radiation syndrome. The agency extended the invitation to Pluristem after the company presented animal data demonstrating the efficacy of PLX cells in the treatment of ARS, said Liat Flaishon, product and business development director at Pluristem. ARS results from exposure to high doses of ionizing radiation from a nuclear event, such as a nuclear power plant accident. Pluristem's chief financial officer, Yaky Yanai, said the financial potential of a radiation treatment would depend on stockpiling needs. If the U.S. government stockpiled a million doses, this would be a multi-billion dollar agreement, he said. (Reuters)
BrainsGate has received clearance from the U.S. Food and Drug Administration for a clinical trial of its ischemic stroke treatment. The company, which is developing therapies for patients suffering from central nervous system diseases, has already begun trials on 176 people in 57 medical centers around the world. The FDA approval means it can now include patients from the United States as well. BrainsGate's solution aims to enable doctors to treat an ischemic stroke up to 24 hours after it occurs - a considerably wider window than existing treatments, such tPA proteins, which can be used no more than four and a half hours after a stroke. The company said it expects to complete the trials by the fourth quarter of 2013. (Yoram Gabison)
Kardan NV received a blow yesterday when an unidentified international infrastructure fund backed out of an agreement to invest in the company's Kardan Water International Group, which operates 10 water and wastewater treatment plants in China. Under a memorandum of understanding reached three weeks ago, the fund was supposed to invest 62 million euro in Kardan Water for a stake that would range between 39.5% and 42% depending on how the company performed between 2013 and 2015. Kardan said the two sides failed to reach final terms in negotiations after the memorandum was signed. Kardan NV has 218 million euro of bonds coming due in two years and has only 125 million euro in cash on hand. (Yoram Gabison)
In a rare sign of stronger consumer spending, credit card purchases rose by an annual rate of 4.2% between April and June, the Central Bureau of Statistics reported yesterday. The increase followed a 7.7% annual growth rate in the first quarter, which put credit card spending so far this year growing at a faster pace than in 2011, when it rose 3.7%. Food and beverage spending with credit cards, which accounts for 19% of total plastic purchases, rose at a 1.9% annual rate in the second quarter. The figures take into account holidays and other seasonal factors, but the CBS noted that part of the rise could be due to shoppers using their credit cards more often than cash. (Dror Reich)
Palestinian Finance Minister Nabeel Kassis said that it is getting harder each month to keep his cash-strapped government afloat and suggested that the Palestinian Authority is in danger of collapse. "After a while we will just become too weak to continue," Kassis said in an interview with the Associated Press, without specifying what would happen. He said the PA's reliance on foreign aid would continue unless the international community pushes to end the occupation of Palestinian territories. Palestinian and international aid agencies say Israeli restrictions on Palestinian trade and movement are seen as the main impediment to economic growth. In a report published Wednesday, the World Bank warned that the situation is not sustainable and urged the PA to take step to encourage the private sector. (AP)
