Pluri Inc. (NASDAQ: PLUR) is a biotechnology company that develops cell therapy products and cell-based food technology across three operating subsidiaries. Revenue, to the extent generated, comes from research grants, collaboration agreements, and development-stage activities rather than commercial product sales, as no cell therapy or cultivated meat product has received broad marketing approval as of the FY2025 10-K filed September 17, 2025. The company operates through Pluri Biotech Ltd. (regenerative and immune cell therapies), Ever After Foods Ltd. (cultivated meat technology), and Kokomodo Ltd. (acquired April 28, 2025 for $4.5 million in common shares). Pluri is headquartered in Israel, incorporated in the United States, and maintains a German subsidiary, Pluristem GmbH. The company holds a patent portfolio spanning the United States, Europe, Israel, China, Japan, South Korea, Australia, Singapore, India, and Hong Kong, with patent expirations ranging from 2039 to 2043. Non-dilutive funding has included grants from Israel's Innovation Authority and a finance agreement with the European Investment Bank for up to €50 million.

Revenue model

Grant income from government bodies including Israel's Innovation Authority and collaboration funding from the European Investment Bank. No commercial product revenue is disclosed in the filing excerpts. The company is pre-commercial in both its cell therapy and cultivated meat segments.

Products and services

Placental-derived stromal cell therapies for conditions including critical limb ischemia. Immune cell expansion and activation systems at large scale. Genetically engineered placental MAIT cells. A 3D cultivation system for plant cells developed by Ever After Foods. Serum-free formulation for cell therapy manufacturing. CRISPR-based genome editing tools developed under the CRISPR-IL consortium.

Customers and end markets

End markets include clinical-stage cell therapy developers, pharmaceutical and biotech companies requiring cell manufacturing technology, and the cultivated meat industry. No commercial customer revenue figures are disclosed in the filing excerpts.

Value-chain role

Upstream platform technology provider. Pluri develops cell expansion technology, bioreactor systems, and therapeutic cell candidates, positioning itself as both a potential drug developer and a manufacturing technology licensor.

Geographic exposure

Operations in Israel (Pluri Biotech Ltd., Ever After Foods, Kokomodo, Coffeesai), Germany (Pluristem GmbH), and the United States (corporate parent). Patent protection filed across the United States, Europe, Israel, China, Japan, South Korea, Australia, Singapore, India, and Hong Kong.

Competitors

Adicet Bio, Poseida Therapeutics, Fate Therapeutics, Upside Foods, Believer Meats, GOOD Meat

Source: SEC 10-K, filed 2025-09-17

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