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Pluri CEO Issues Shareholder Letter Highlighting Strategic Growth, Innovation, and Global Market Expansion
Globenewswireยท 2025-05-15 11:00
Core Insights - Pluri Inc. aims to lead a global biotech revolution in healthcare, food, and agriculture through its innovative cell expansion platform, which allows for the production of pharmaceuticals, food products, and agricultural goods to address multi-billion dollar markets [1][10] Business Developments - The company anticipates a significant turning point in the upcoming fiscal year by unlocking the potential of its cell expansion technology, particularly in the cocoa and coffee industries, which are facing shortages due to climate change and rising demand [2][9] - Pluri has strengthened its position in the cultivated cacao space by partnering with an Israeli AgFoodTech company that is developing cell-based cacao technology, addressing challenges in the global cacao industry [3][10] - The company has secured additional investment from a new strategic partner with expertise in healthcare, enhancing its financial position and ability to expand into key geographies [4][10] Financial Performance - In the first nine months of fiscal year 2025, Pluri recorded a fourfold increase in revenue, rising from $230,000 in the same period of fiscal year 2024 to $938,000, driven by its CDMO and AgTech businesses [7][8] - The company is advancing new food tech partnerships and licensing opportunities, contributing to its revenue growth [8][10] Strategic Initiatives - Pluri holds a 69% stake in Ever After Foods Ltd., which utilizes its cell expansion technology for cultivated meat production, with significant funding rounds supporting this initiative [5][10] - The company is actively discussing commercial implementation opportunities with leading players in the cocoa and coffee industries, including potential out-licensing to strategic partners [9][10] Research and Development - Pluri has received $2.2 million in funding from the U.S. National Institutes of Health and the Department of Defense for the development of PLX-R18 for treating Acute Radiation Syndrome, although this funding has been discontinued due to federal budget cuts [6][10]