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06 July 2011

James Hatton Advises on Stem Cell License Agreement for Pulmonary Hypertension

Farris partner James Hatton recently acted for Washington, DC-based United Therapeutics Corporation (Nasdaq:UTHR) in its exclusive worldwide license agreement with Haifa, Israel-based Pluristem Therapeutics Inc. (Nasdaq:PSTI). United Therapeutics will have the right to develop and commercialize Pluristem’s placental stem cells for the treatment of Pulmonary Hypertension.

Pluristem will receive an upfront payment of $7million and is eligible to receive regulatory milestone payments and other payments accumulating together with the upfront payment to a total of approximately $55 million and reimbursement of costs of its development and clinical activities. Following commercialization, United Therapeutics shall purchase commercial supplies from Pluristem at a specified margin over Pluristem’s cost. In addition, United Therapeutics will pay Pluristem specified royalties as a percentage from its gross profits generated from the developed product.

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