Israeli biotech firm Pluri has announced the successful completion of a $3.5 million private placement, further solidifying its financial position as a leading player in the cell-based biotechnology sector.

This investment, from long-term shareholder Merchant Adventure Fund, follows a recent $6.5 million placement led by global investor Alejandro Weinstein, bringing total recent financings to $10 million.

The transaction is expected to close on or around February 20 2025, pending customary closing conditions.

Under the terms of the latest agreement, Pluri will issue 759,219 shares at a price of $4.61 per share, along with warrants for an additional 45,553 shares at an exercise price of $5.568.

This influx of capital is designed to support Pluri's strategic initiatives as it seeks to expand its influence in the cell-based technology landscape, which spans pharmaceuticals, food technology and agriculture.

The recent investments are seen as a strong endorsement of Pluri’s vision and operational strategy. Yaky Yanay, Pluri's CEO, remarked on the significance of this continued backing from a major shareholder, stating, "This additional investment reaffirms the strength of Pluri’s strategy and the trust of our long-term investors in our ability to execute".

The funds will primarily be allocated to advancing Pluri's proprietary 3D cell expansion technology, which is designed to create scalable and cost-effective cell-based solutions. This technology positions Pluri to tackle various global challenges, including food scarcity and sustainability issues in agriculture.

The demand for cell-based products is growing, driven by increasing consumer interest in sustainable and ethical food sources.

As traditional animal agriculture faces scrutiny over environmental impact and ethical concerns, companies like Pluri are well-positioned to capitalise on this shift. The company's recent entry into discussions to acquire Kokomodo could potentially open avenues into the cacao market, further diversifying its portfolio.

Pluri's recent funding rounds reflect a broader trend of investment in biotechnology, particularly in sectors focused on sustainable food production. As the company continues to innovate and scale its operations, it aims to redefine industry standards and meet the evolving demands of consumers and manufacturers alike.

The investments also underscore the growing confidence among investors in the potential of cell-based technologies to revolutionise food manufacturing, offering alternatives that promise to be both environmentally sustainable and economically viable.

About Pluri

Pluri is a biotechnology firm specialising in cell-based solutions aimed at addressing critical issues in food security, health and sustainability. The company's patented 3D cell expansion system is designed for efficient mass production of cells, making it a key player in the regenerative medicine, food-tech, and ag-tech sectors.

As Pluri advances its mission, it remains committed to fostering partnerships that leverage its technology across various industries, signalling a promising future for both the company and the broader cultivated food market.

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