PSTI - PSTI STOCK NEWS

Pluri Inc. (Nasdaq: PLUR), formerly known as Pluristem Therapeutics, announced its name change effective July 26, 2022, indicating a shift in strategy. The company aims to leverage its innovative 3D cell-based technology across various sectors, including food-tech and agri-tech. CEO Yaky Yanay highlighted the demand for scalable and efficient cell-based solutions. Pluri's technology remains dedicated to advancing medical research while also addressing global challenges such as food scarcity and sustainability. The new identity underscores its commitment to broader applications of biotechnological solutions.

Pluristem Therapeutics (PSTI) announced topline results from a phase III study evaluating the safety and efficacy of PLX-PAD cells in muscle regeneration post-hip fracture surgery. The trial, involving 240 patients across the U.S., Europe, and Israel, demonstrated significant increases in hip abduction strength at weeks 26 and 52 compared to placebo. However, the study failed to meet its primary endpoint of improving the Short Physical Performance Battery (SPPB) score at week 26. PLX-PAD was well tolerated, and the company plans to seek regulatory guidance to connect strength gains to functional improvements.

Pluristem Therapeutics (Nasdaq: PSTI) and Tnuva Group will celebrate their collaboration by ringing the Nasdaq Closing Bell on March 28, 2022, at 3:45 pm ET. This partnership aims to develop cell-based food products, combining Pluristem's advanced technology with Tnuva's extensive experience in food production. CEO Yaky Yanay emphasized the strategic importance of forging partnerships to leverage their cell-based platform. Tnuva Chairman Haim Gavrieli expressed confidence that this collaboration will transform the cultured food industry, enhancing Tnuva's market position as a leader in food technology.

Pluristem Therapeutics (PSTI) announced positive results from its Phase I study on PLX-R18, aimed at patients with incomplete hematopoietic recovery post-hematopoietic cell transplantation (HCT). PLX-R18 demonstrated a significant reduction in mortality, decreasing from 29% to 18%. The treatment improved blood cell counts, leading to decreased transfusion requirements. The FDA granted Orphan Drug Designation for PLX-R18 for treating graft failure and acute radiation syndrome. This therapy’s potential impact on patient recovery and broader implications for nuclear events is emphasized.

Pluristem Therapeutics and Tnuva Group have appointed Eyal Rosenthal as the CEO of their joint venture focused on cultured meat development. Rosenthal, an experienced leader in food tech and agritech, aims to leverage Pluristem's proprietary technology alongside Tnuva's market expertise to address consumer concerns related to health, sustainability, and animal welfare. The joint venture holds exclusive rights to utilize Pluristem's technology, targeting the growing alternative meat market, projected to reach $140 billion by 2030.

Pluristem Therapeutics (PSTI) announced a significant partnership with Israel’s largest food producer, Tnuva, to develop cultured food, aiming for a proof of concept in 2022 and a product launch in 2023. This collaboration seeks to address global food supply challenges through sustainable cultured meat production. Additionally, Pluristem is advancing its pipeline, with upcoming results from clinical studies related to hematopoietic cell transplants and muscle regeneration expected in 2022. The company aims to identify new applications for its cell expansion technology, enhancing its position in various markets.

Pluristem Therapeutics has entered a strategic partnership with Tnuva Group, Israel's largest food producer, on February 24, 2022. This collaboration focuses on developing and commercializing cell-based food products through a new company, NewCo. Tnuva is investing $7.5 million at a pre-money valuation of $40 million, owning approximately 16% of NewCo, while Pluristem retains 84%. The partnership aims to leverage Pluristem's proprietary technology for sustainable cultured food production, enhancing its market position in the rapidly evolving food tech industry.

Pluristem Therapeutics and Tnuva Group announced a collaboration to develop cultured cell-based products for the food industry. This partnership establishes a new company (NewCo) with Tnuva investing $7.5 million initially, with an option for an additional $7.5 million. NewCo aims to showcase proof of concept in 2022 and launch its first cultured meat product by 2023. This collaboration aligns with Pluristem's strategy to leverage its cell-based technology for significant growth in the rapidly expanding alternative protein market, projected to be worth $140 billion by 2030.

Pluristem Therapeutics Inc. (Nasdaq:PSTI) announced topline results from its Phase II studies on PLX-PAD cells for treating Acute Respiratory Distress Syndrome (ARDS) linked to COVID-19. The studies, involving 89 patients, did not meet the primary efficacy endpoint of significant improvement in ventilator-free days at 28 days. However, efficacy trends showed improved survival rates and ventilator-free days in certain patient groups receiving a single administration of 300 million PLX-PAD cells. The studies were prematurely halted due to evolving patient conditions and changes in standard care.