Pluristem shares gain on stem cell therapy patent

NEW YORK (AP) -- Pluristem Therapeutics shares gained Wednesday after the Israeli company said it received an important U.S. patent that covers a stem cell therapy as a treatment for arterial disease.

Pluristem said the patent covers methods for treating peripheral artery disease with a type of stem cells derived from placenta. Peripheral artery disease is one of the company's main areas of focus, and it said the patent should last into 2028.

Pluristem is studying a placenta-based stem cell therapy called PLX as a treatment for conditions including peripheral artery disease, or the narrowing of large arteries that supply blood to the extremities. In June, the Food and Drug Administration suspended a mid-stage study of PLX because a patient suffered a severe allergic reaction to treatment.

Shares of Pluristem Therapeutics Inc. rose 16 cents, or 5.3 percent, to $3.21 in morning trading.