HAIFA, Israel, March 28, 2022 (GLOBE NEWSWIRE) -- Pluristem Therapeutics Inc. (Nasdaq: PSTI) (TASE: PSTI) (“Pluristem”), a leading biotechnology company, and Tnuva Group (“Tnuva Group” or “Tnuva”), Israel’s largest food producer, today announced that Pluristem’s CEO and President Yaky Yanay and Tnuva Group’s Chairman, Haim Gavrieli, will ring the Closing Bell at Nasdaq MarketSite in Times Square, New York. The ceremony, in honor of the companies’ launch of an innovative collaboration to develop, manufacture and commercialize cultured cell-based products for the food industry, will take place on Monday, March 28, 2022 at 3:45 pm ET.
“We are honored to celebrate this important collaboration between Pluristem and Tnuva at Nasdaq,” said Yaky Yanay, CEO and President of Pluristem. “Over the years, Pluristem has developed one of the most advanced cell-based technology platforms, offering mass-scale, cost-effective, consistent cell production. During the last year, we made our strategy more precise, with the goal of leveraging our technology and expertise through partnerships to create cell-based products for a variety of industries. We are proud to join forces with a market leader, Tnuva Group, as they bring 96 years of experience in consumer food brands and innovation to the table.”
Haim Gavrieli, Chairman of Tnuva Group: “I am excited to note the groundbreaking collaboration between Pluristem and Tnuva Group. Through this joint venture, Tnuva is realizing its vision to become a leader in multiple fields, including food tech and protein substitutes. We believe this step will enable us to remain the leading food company in Israel and to expand globally. We are confident that together, the companies will revolutionize the cultured food industry.”
Zami Aberman, Chairman of Pluristem: “As Pluristem continues its cutting-edge work in the medical field, we also look to establish new partnerships that leverage our cell-based technology platform to advance other industries. Tnuva is an ideal collaborator in the food tech space and we believe that the two companies will lead the charge in creating high-quality, affordable, and accessible cultured meat for consumers with the new joint venture.”
Eyal Malis, CEO of Tnuva Group: “Tnuva Group has decades of experience developing and marketing innovative products for the Israeli market, leads the alternative protein market in Israel, and has recently taken its expertise globally. We chose to collaborate with Pluristem because we believe it owns one of the most advanced cell production technologies in the world. We expect the collaboration between the companies to revolutionize the cultured food industry and develop the next generation of alternative proteins.”
About Pluristem Pluristem (Nasdaq: PSTI) is pushing the boundaries of science and engineering to produce cell-based products for various industries on a global scale. Pluristem currently operates in the regenerative medicine and food tech sectors and aims to establish partnerships that leverage the company’s cell-based technology platform. Pluristem’s placental cell-based therapies show potentially groundbreaking applications for treating damaged muscle, hematology deficiencies, and inflammation. The Company recently launched a landmark collaboration to produce cultured food products with sustainability as a guiding principle. To learn more, visit us at www.pluristem.com or follow us on LinkedIn and Twitter @Pluristem.
About Tnuva Group Tnuva Group is the largest food producer in Israel, as well as the Israeli leader in the field of alternative dairy and protein products. Tnuva was founded 96 years ago and currently employs 6,000 workers in 32 sites across Israel, with annual revenues of above 2 billion dollars. Tnuva’s investment fund, ‘Tnuva NEXT’, functions as a CVC fund. Tnuva takes part in the establishment of advanced food tech platforms in Israel, including 'Fresh Start,' an innovative food tech incubator in Northern Israel with the goal of future development of the Israeli food industry. The incubator, established in collaboration with the Israel Innovation Authority, Tempo, the investment platform Our Crowd, and the American investment fund Finistere, specializes in locating and accompanying groundbreaking Israeli food technologies. Tnuva's strategy is to invest in companies that are synergetic to Tnuva’s core fields that will produce value while acquiring production and marketing rights. Tnuva brings beneficial expertise to collaborations with other start-ups, including its deep familiarity with the Israeli consumer, R&D capabilities, the largest distribution platform in Israel, as well as a direct sale platform for customers, access to the local and global markets and international partners, and a long list of well-known and loved brands. Tnuva had recently signed a know-how licensing agreement with Swiss retail giant Migros, under which Tnuva will help the Swiss company to produce dairy alternatives.
Safe Harbor Statement This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Pluristem is using forward-looking statements when it discusses the potential benefits to be realized by the collaboration, that it will revolutionize the cultured food industry with Tnuva Group. These forward-looking statements and their implications are based on the current expectations of the management of Pluristem only and are subject to several factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements about Pluristem or the collaboration: changes in technology and market requirements; either may encounter delays or obstacles in launching and/or successfully completing its clinical trials, if necessary; their products may not be approved by regulatory agencies, their technology may not be validated as they progress further and their methods may not be accepted by the scientific community; they may be unable to retain or attract key employees whose knowledge is essential to the development of their products; unforeseen scientific difficulties may develop with their processes; their products may wind up being more expensive than they anticipate; results in the laboratory may not translate to equally good results in real clinical settings; their patents may not be sufficient; their products may harm recipients or consumers; changes in legislation with an adverse impact; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Pluristem or the collaboration to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Pluristem undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Pluristem, reference is made to Pluristem's reports filed from time to time with the Securities and Exchange Commission.
