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In a significant move within the biotechnology sector, Pluri Inc., a company specializing in biological products, has completed the acquisition of a majority stake in Kokomodo Ltd. The transaction, which took place today, involved Pluri Inc. purchasing approximately 71% of Kokomodo’s equity for $4.5 million, paid through the issuance of 976,139 Common Shares. With a market capitalization of $40.54 million and impressive revenue growth of 90% in the last twelve months, Pluri demonstrates strong expansion potential despite its current cash burn rate, according to InvestingPro data.
Kokomodo, which will continue its operations as an independent entity and a majority-owned subsidiary of Pluri Inc., was fully integrated into the company’s portfolio following the acquisition. This strategic move was initially disclosed in Pluri’s Current Report on Form 8-K filed on March 13, 2025. The company’s stock has shown strong momentum, with a 28% return over the past week, though InvestingPro analysis indicates significant price volatility.
The acquisition is part of Pluri Inc.’s expansion strategy and is expected to enhance the company’s product offerings and market reach. Pluri Inc., headquartered at the MATAM Advanced Technology Park in Haifa, Israel, is listed on the NASDAQ Capital Market under the ticker symbol (NASDAQ:PLUR).
The financial details of the acquisition were made public in accordance with the Securities Exchange Act of 1934, with the report being signed by Liat Zalts, the Chief Financial Officer of Pluri Inc. This information is based on a press release statement.
In other recent news, Pluri Inc. has made several strategic moves and faced notable developments. The company amended its Securities Purchase Agreement, exchanging 976,139 common shares for pre-funded warrants with an investor group led by board director Alejandro Weinstein. These warrants are exercisable upon obtaining certain shareholder approvals and include anti-dilution protections. Pluri Inc. also encountered a setback as its subsidiary, Pluri Biotech Ltd., received a termination notice for a $4.2 million contract from the U.S. National Institute of Allergy and Infectious Diseases. Meanwhile, the company secured new U.S. and Israeli patents for its immune cell expansion technologies, focusing on Mucosal-Associated Invariant T cells for cancer treatment. Additionally, Pluri Inc. has partnered with Ukrainian biobank Hemafund to stockpile its PLX-R18 cell therapy for radiation emergencies in Ukraine. This collaboration aims to create a stockpile of 12,000 doses and could potentially generate over $100 million for both parties. The company also announced its 2025 Annual Meeting of Shareholders, scheduled for May 14 at its headquarters in Haifa, Israel.
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