Pluristem Therapeutics Inc., of Haifa, Israel, gained backing from the European Investment Bank through the company’s German subsidiary, Pluristem GmbH, with a venture debt loan of €50 million (US$54.7 million). The company uses cells derived from the placenta for the development of product candidates for the treatment of severe medical conditions such as infections, inflammation, ischemia, muscle injury, hematological disorder or acute radiation syndrome. Pluristem recently extended its activity in response to the coronavirus pandemic and treated several COVID-19 patients with acute respiratory failure under the compassionate use program. The financing will support Pluristem's research and development in the EU, notably its regenerative cell therapy platform.

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