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Pluristem, Innovative Medical to extend investment agreement

Pluristem Therapeutics Inc. and Innovative Medical Management Co. Ltd. mutually agreed to extend the execution time of the definitive agreements for Innovative Medical's proposed investment of $30 million.

The decision comes after the recently adopted Chinese policy relating to outbound investments by Chinese companies.

Both companies planned to enter into definitive agreements no later than Dec. 26 and plan to continue the discussions for the agreements until they have received further clarification about such policies, which is expected during the first half of 2017.

Innovative Medical is a publicly listed Chinese company active in the healthcare industry.