Abu Dhabi, UAE, 17 august 2020; Israel’s Pluristem Therapeutics and the United Arab Emirates’ Abu Dhabi Stem Cell Centers signed an accord on Monday to cooperate on research and development of stem cell-based therapies for COVID-19 and other diseases.

The companies signed a non-binding Memorandum of Understanding (MOU), and the deal comes just days after the UAE and Israel began normalizing relations.

Executives from both companies took part in a signing ceremony on Sunday, held via video conference. 

"The aim of the collaboration is to capitalize on each company’s respective areas of expertise in cell therapies to deliver regenerative medicine for the benefit not only of the citizens of the UAE and Israel, but for humanity as a whole. The collaboration between the parties was initiated by the Better Alternatives advisory firm," the companies said in a joint statement.

ADSCC is an Abu Dhabi-based specialist healthcare center focused on cell therapy and regenerative medicine, as well as delivering cutting-edge research on stem cells in the region.

Pluristem Therapeutics is a leading regenerative medicine company developing novel placenta-based cell therapy product candidates.

“We are extremely proud to partner with our colleagues at the ADSCC by sharing knowledge and expertise that we believe will advance healthcare within and across our borders. We see life science and regenerative medicine as a bridge for building peace, prosperity, and well-being in our region and for the entire world,” stated Pluristem CEO and President Yaky Yanay. 

“I believe it is our obligation and privilege as business and scientific leaders to lead the way forward to strengthen collaborations, and promote innovation and education. We are honored to be on the front line of this historical moment.”

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