Pluri Inc.

Pluri Inc.

Overview

Pluri Inc. is a biotechnology company that uses a proprietary 3D cell expansion platform to enable scalable, cost-efficient, and reproducible production of human, plant, and animal cells. The platform uses a synthetic scaffold to create a 3D environment for adherent and non-adherent cells to grow in a tissue-like setting, supported by an automated manufacturing process. Pluri has developed PluriMatrix, an industrial-scale cell manufacturing system built on this platform to support commercially relevant production volumes.

Pluri maintains an in-house industrial-scale cell manufacturing facility and operates GMP standards on a self-declared basis.

Primary application areas

• Human health and longevity

  • Cell therapy and immunotherapy product candidates, CDMO development and manufacturing services (PluriCDMO), and regenerative aesthetics/wellness via Cellav.
  • Placenta-derived PLX and MAIT cell programs, including PLX-PAD and PLX-R18 for regenerative medicine and immunotherapy; MAIT cells targeting solid tumors (in collaboration with BIRAD).
  • Regulatory and clinical focus on PLX-PAD for mild-to-moderate knee osteoarthritis (PROTO program; PEI approval in 2025).
  • Immunotherapy platform includes placental MAIT cells and IVD products in development.

• Foodtech and bio-farming

  • Applications of the 3D platform to cultivated and plant-based products, including Coffeesai (cultivated coffee), Kokomodo (cell-cultured cacao), and Ever After Foods (cultivated meat and protein production).
  • Collaborations and programs to enable cultivated-protein production, plant bioactives delivery, and sustainable crop production.

Corporate structure and ownership

• Pluri Inc. owns Pluri Biotech Ltd. (Israel). Pluri Biotech established or acquired several subsidiaries:
  • Pluristem GmbH (Germany) — established January 2020
  • Ever After Foods (Israel) — established November 2021; Pluri Biotech initially held ~69%, later reduced after the Fishway acquisition
  • Coffeesai (Israel) — established March 2024; wholly owned
  • Kokomodo (Israel) — acquisition completed April 28, 2025; ~79% equity held as a majority-owned subsidiary of Pluri Biotech
  • Cellav (Israel) — established November 2025
• After the August 2026 Fishway acquisition, Ever After Foods’ indirect ownership by Pluri Biotech decreased to approximately 58%.
• Pluri Biotech also launched PluriCDMO (in-house GMP clinical manufacturing facility in Haifa, Israel) in January 2024. The facility covers 4,400 square meters for CDMO activities and received ISO 13485:2016 certification in August 2026 for contract manufacturing of medical devices.

Employees

• Total employees (as of June 30, 2026): 92 full-time and 21 part-time.
• Of those, 73 full-time and 14 part-time employees are engaged in cell R&D and manufacturing, including clinical and regulatory affairs.

Facilities and manufacturing footprint

• Haifa, Israel (MATAM Advanced Technology Park, Building No. 5): In-house GMP-grade manufacturing and R&D facility used by Pluri, Pluri Biotech, Coffeesai, Kokomodo, and Cellav — approximately 4,389 square meters.
• Haifa, Israel (1 Netiv HaOr St.): Ever After Foods offices separate from the main facility — approximately 655 square meters.
• Lease/space economics: Gross monthly rent for Haifa facilities was 390,000 NIS (approximately $123,000) as of June 30, 2026; 2026 lease-related expenses recognized at $1,095,000.

Intellectual property

• Portfolio includes 149 issued patents and approximately 57 pending patent applications across the U.S., Europe, China, Japan, Israel, and other jurisdictions.
• Key patent families cover:
  • 3D cell expansion methods for adherent cells (placental stromal cells)
  • 3D cell expansion for plant cells
  • 3D expansion for suspension/immune cells
  • Compositions of expanded cells and therapeutic/cosmetic uses of PLX cells
  • Devices and methods for culture, harvesting, thawing, and formulation, including MAIT-cell technologies
• Patents expire between 2027 and 2046, subject to extensions under the Hatch-Waxman framework for U.S. patents.

Financial and funding highlights

• Cash and equivalents (as of June 30, 2026): approximately $8.851 million.
• Management estimated operating obligations could be met for less than three months without new funding; additional financing required to continue operations beyond that period.
• EIB loan facility:
  • Facility up to €50 million; initial tranche of €20 million disbursed in June 2021.
  • Loan terms include 4% annual interest and royalty provisions on consolidated revenues (up to 2.3% of revenues below $350 million; 1.2% on revenues between $350–$500 million; 0.2% on revenues above $500 million).
  • As of June 30, 2026, accrued interest was approximately €4.1 million and accrued royalties about $9,000.
  • In April 2026, EIB reserved rights pending disposition discussions; in August 2026, an EIB committee approved a proposed sale of the loan to a third party (potentially a related party). If completed, the company may negotiate settlement terms, including potential conversion of all or part of the loan into equity.
• Revenue and profitability: The company has not generated significant revenues to date and reports ongoing losses; an independent auditor has issued a going concern note.

Key collaborations and programs

• Department of Defense: PLX-R18 ARS program with historical milestones and contract activity.
• Charité / Horizon Europe PROTO Program: Grant related to knee osteoarthritis; clinical study initiated January 2026; final agreement November 2025 governs joint results with defined royalty and ownership terms.
• BIRAD (Bar-Ilan University): Collaboration on cocaine addiction using PLX cells with a 20% revenue-sharing arrangement for future sales from the anti-addiction product.
• Hemafund: Collaboration for stockpiling and distribution of PLX-R18 for H-ARS (currently not active).
• ICL Group: Open innovation collaboration for plant bioactives delivery and biostimulants; PoC extended through December 2024 and March 2026 via amendments.
• Ever After Foods strategic partnerships and growth initiatives, including collaborations with Tnuva and Bühler; Fishway acquisition in August 2026 expanded European presence and aquatic cell biology and animal-component-free media capabilities.
• Bühler collaboration (February 2025): Joint advancement of cultivated-meat production systems using the EPB bioreactor platform.

Business segments

• Human Health and Longevity: PLX cell therapy programs (PLX-PAD and PLX-R18), MAIT-cell immunotherapy platform, PluriCDMO manufacturing services, and Cellav regenerative aesthetics/wellness.
• Foodtech and Bio-Farming: Coffeesai (cell-cultured coffee), Kokomodo (cell-cultured cocoa/cacao ingredients), Ever After Foods (cultivated meat and protein products), plus plant-based cultivated coffee and cacao ingredient initiatives.

Market and competitive context

• Regenerative medicine: Competitive landscape includes allogeneic and autologous cell therapy developers, major pharmaceutical and biotech companies, academic centers, and contract service providers.
• Foodtech: Competition includes cultivated-meat and plant-cell culture startups, as well as traditional ingredient and flavor companies. Key differentiators include scale, cost, regulatory compliance, and supply-chain considerations.