The closing bell ceremony will take place on Monday, March 28 at 3:45 p.m. ET at the Nasdaq MarketSite in Times Square, New York
A live stream of the Nasdaq closing bell will be available on: https://livestream.com/accounts/27896496/events/10177910
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 CEO and Chairman Yaky Yanay and Tnuva Group Chairman Haim Gavrieli will ring the closing bell at the Nasdaq MarketSite at Times Square, New York. The ceremony, in honor of the companies’ launch of a 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 p.m. ET.
“We are honored to celebrate this important collaboration between Pluristem and Tnuva on Nasdaq,” said Yaky Yanay, CEO and President of Pluristem. “Over the years, Pluristem has developed one of the most advanced cell technology platforms, providing large-scale, cost-effective and consistent cell production. Over the past year, we have refined our strategy, 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 partner with a market leader, Tnuva Group, as they bring 96 years of experience in consumer food brands and innovation to the table.
Haim Gavrieli, president of the Tnuva group: “I am delighted to see the revolutionary collaboration between Pluristem and the Tnouva Group. Through this joint venture, Tnuva realizes its vision of becoming a leader in multiple areas, including food technology and protein substitutes. We believe this step will allow us to remain the leading food company in Israel and expand globally. We are convinced that together the companies will revolutionize the cultured food industry. »
Zami Aberman, President of Pluristem“As Pluristem continues its cutting-edge work in the medical field, we are also looking to build new partnerships that leverage our cellular technology platform to advance other industries. Tnuva is an ideal collaborator in the area of food technology and we believe 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 Tnouva Group“The Tnuva Group has decades of experience in developing and commercializing innovative products for the Israeli market, is the market leader in alternative proteins in Israel and has recently expanded its expertise globally. We chose to partner with Pluristem because we believe they have one of the most advanced cell production technologies in the world. We expect the collaboration between the companies to revolutionize the cultured foods industry and develop the next generation of protein alternatives.
Pluristem (Nasdaq: PSTI) pushes the boundaries of science and engineering to produce cell-based products for various industries globally. Pluristem currently operates in the regenerative medicine and food technology sectors and aims to build partnerships that leverage the company’s cellular technology platform. Pluristem’s placental cell therapies have potentially breakthrough applications for the treatment of damaged muscles, hematological deficiencies and inflammation. The company recently launched a landmark collaboration to produce food products grown with sustainability as a guiding principle. To find out more, visit us at www.pluristem.com or follow us on LinkedIn and Twitter @Pluristem.
About Tnuva Group
The Tnuva Group is the largest food producer in Israel, as well as the Israeli leader in dairy and protein alternatives. Tnuva was founded 96 years ago and currently employs 6,000 people at 32 locations across Israel, with annual revenues of more than $2 billion. Tnuva’s investment fund, ‘Tnuva NEXT’, operates as a CVC fund. Tnuva is involved in setting up advanced food technology platforms in Israel, including “Fresh Start”, an innovative food technology incubator in northern Israel with the aim of developing the Israeli food industry. The incubator, created in collaboration with the Israel Innovation Authority, Tempo, the investment platform Our Crowd and the American investment fund Finistere, specializes in localizing and supporting revolutionary Israeli food technologies. Tnuva’s strategy is to invest in businesses in synergy with Tnuva’s core areas that will generate value while acquiring production and marketing rights. Tnuva brings expertise beneficial to collaborations with other start-ups, including its deep knowledge of the Israeli consumer, its R&D capabilities, the largest distribution platform in Israel, as well as a direct sales platform for customers, l access to local, global and international markets. partners, and a long list of well-known and appreciated brands. Tnuva had recently signed a know-how license agreement with Swiss retail giant Migros, under which Tnuva will help the Swiss company produce dairy alternatives.
Safe Harbor Statement
This press release contains express or implied forward-looking statements under the Private Securities Litigation Reform Act of 1995 and other United States federal securities laws. For example, Pluristem uses forward-looking statements when discussing the potential benefits to be realized by the collaboration, that it will revolutionize the food industry grown with the Tnuva Group. These forward-looking statements and their implications are based on the current expectations of Pluristem’s management 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 any forward-looking statements regarding Pluristem or the collaboration: changes in technology and market requirements; either may encounter delays or obstacles in the initiation and/or success of its clinical trials, if necessary; their products may not be approved by regulators, their technology may not be validated as they progress, 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 end up being more expensive than they expect; laboratory results may not translate to as good results under actual clinical conditions; their patents may not be sufficient; their products may harm recipients or consumers; changes in legislation having a negative impact; failure to develop and introduce new technologies, products and applications on a timely basis; loss of market share and pricing pressure 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 issue revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen 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.
American press and media
Meira Feinman, Miller Ink
Israeli press and media
Shachar Yental, Gitam Porter Novelli
Noy Kedem Madmon, Director of Communications