Pluri Inc. and Hemafund partner for radiation emergency pre

HAIFA, Israel - Pluri Inc. (NASDAQ:PLUR) (TASE:PLUR), a biotechnology firm with a market capitalization of $31.84 million, has entered into an exclusive agreement with Ukrainian biobank Hemafund to stockpile and potentially advance Pluri’s PLX-R18 cell therapy for use against Hematopoietic Acute Radiation Syndrome (H-ARS) in Ukraine. This collaboration, announced today, is set to last for an initial three years with the option to extend. According to InvestingPro analysis, while Pluri’s stock is currently trading above its Fair Value, the company has demonstrated impressive revenue growth of nearly 90% in the last twelve months.

The partnership responds to the urgent need for radiation countermeasures in Ukraine, highlighted by recent incidents like the drone strike at the Chernobyl nuclear plant. Although the strike did not increase radiation levels, it emphasized the region’s vulnerability to radiological threats.

Under the agreement, Pluri will produce PLX-R18, a therapy designed to treat bone marrow damage caused by radiation exposure. Hemafund will use its biobanking infrastructure and logistics to manage storage and distribution across Ukraine, ensuring compliance with local and European standards. InvestingPro data reveals Pluri maintains a strong liquidity position with a current ratio of 5.04, suggesting robust capability to support its production and storage commitments.

The collaboration seeks external funding to create a stockpile of 12,000 doses of PLX-R18, sufficient to treat an estimated 6,000 individuals. If successful, the initiative could generate over $100 million for both parties, based on projected costs and stockpile size.

Yaky Yanay, CEO and President of Pluri, expressed the company’s commitment to making their therapy readily available in critical situations. Yaroslav Issakov, Founder of Hemafund, emphasized the importance of readiness to distribute potential treatments during emergencies.

Hemafund specializes in the preservation of umbilical cord blood and other tissues, with state-of-the-art cryostorage facilities. Pluri, on the other hand, focuses on cell-based solutions across various sectors, including regenerative medicine and agtech.

The collaboration will also explore opportunities for clinical trials to register PLX-R18 as an official radiation countermeasure. Both parties aim to attract government and private sector funding to support the development and accessibility of PLX-R18 in Ukraine. While InvestingPro indicates the company is currently burning through cash, analysts project profitability this year, which could strengthen its position in executing these development plans. InvestingPro subscribers have access to 5 additional key insights about Pluri’s financial health and growth prospects.

The information presented in this article is based on a press release statement.

In other recent news, Pluri Inc. has formed an exclusive partnership with Ukraine’s Hemafund Ltd. to address radiation emergencies in Ukraine. The collaboration focuses on the stockpiling and potential clinical advancement of Pluri’s PLX-R18 cell therapy for Hematopoietic Acute Radiation Syndrome. The agreement, initially set for three years, aims to secure funding for 12,000 doses of PLX-R18, potentially generating over $100 million in value. This partnership responds to recent regional escalations, such as a drone strike at the Chernobyl nuclear plant. Additionally, Pluri Inc. has been granted an extension by Nasdaq to meet the exchange’s continued listing requirements after receiving a deficiency notice for failing to maintain the minimum required stockholders’ equity. The company has until May 24, 2025, to comply, with the possibility of appealing a delisting decision. Pluri’s management remains committed to regaining compliance and maintaining its Nasdaq listing. Investors should be aware that the current situation does not immediately affect the trading of Pluri’s shares.

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