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Pluristem Therapeutics (PSTI) term sheet for new corporation in Japan to commercialize PLX-PAD for Critical Limb Ischemia (CLI)

December 20, 2016 7:50am

PSTI and Corporate Venture Capital sign a binding term sheet for the establishment of a new Japanese corporation for the clinical development/commercialization of its PLX-PAD cell therapy product in Japan

Following completion of fund-raising, the parties plan to establish NewCo in Japan.

The Bottom Line: Pluristem will own 35% of NewCo in return for its contribution of a perpetual license to commercialize PLX-PAD for Critical Limb Ischemia (CLI) in Japan. All proprietary rights related to PLX-PAD will be exclusively owned by PSTI. Sosei ‘s CVC's investment fund, Sosei RMF1, together with additional Japanese investors, will raise and invest $11 M in return for ownership of 65% of NewCo.

PSTI closed UP +$0.08 and should be UP at the open BUT, why so early a release?

**** WHY not wait until the deal is concluded? Typical Pluristem … as quick as it jumps, it will fall ****

35 companies, 1 interpreter!

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