• Breakthrough system substantially increases cell production, with the potential to reach much higher productivity driven by platform’s significant scalability
• Flexible, industrial scale cell production to power a broad range of cell-based products for industries including pharma, biologics, foodtech and cellular agri-tech
• PluriMatrix potentially unlocks tremendous value which Pluri expects to leverage in conjunction with industry-specific subsidiaries and strategic partners

HAIFA, Israel, April 27, 2023 (GLOBE NEWSWIRE) -- Pluri Inc. (Nasdaq: PLUR) (TASE: PLUR) (“Pluri” or the “Company”), a leading biotech company that transforms cells into solutions that promote wellbeing and sustainability, today unveiled a breakthrough in cell manufacturing that potentially solves one of the biggest hurdles facing cell-based industries: cost-effective, industrial scale cell manufacturing. PluriMatrix, built upon Pluri’s platform 3D cell expansion technology, significantly scales high-quality cell production, potentially having a catalytic impact across numerous industries that require mass-scale cell production including pharma, biologics, foodtech, agri-tech, and beyond. The patented technology offers Pluri and its subsidiaries unparalleled advantages in developing and producing cell-based products.

Pluri’s majority-owned subsidiary Ever After Foods, a joint venture with Tnuva Group, Israel’s largest food producer, is using PluriMatrix to produce cultivated meat and expects a 700% increase in productivity over other cultivated meat technology platforms.

PluriMatrix draws on the unique expertise in cell-based manufacturing that Pluri has developed over the last two decades. It enables industrial scale production of cell-based products by using a packed-bed system design in which cells expand as tissue on scaffolds, increasing surface area and providing a uniquely effective growth environment. Cells can either be harvested as single cells or used along with the scaffolds as completed tissue. The system also enables the simultaneous expansion of various cell types within the same platform, giving each cell type its own growth space. PluriMatrix’ state-of-the-art mass scale, highly scalable, modular cell production system enables a smaller infrastructure by reducing the size of the manufacturing facility compared to other existing methods, significantly reducing cost and ecological footprint.

“PluriMatrix is an important breakthrough in cell technology by our assessment, and we believe it has the potential to solve some of humanity’s greatest needs by improving health, increasing access to food and food safety, and creating a wide range of cell-based products, while taking better care of our earth,” stated Pluri CEO and President, Yaky Yanay. “We’ve evolved our original healthcare-focused technology to potentially serve a multitude of other industries where efficient, cost-effective, industrial-scale cell production will be a core competitive advantage. We are very pleased about the potential benefits for humanity as we can transform cells into solutions that promote global wellbeing and sustainability. Moreover, PluriMatrix is transformative for our platform technology and business, as it vastly extends Pluri’s target markets. We believe we have unlocked tremendous value and expect to capitalize on it in conjunction with industry-specific subsidiaries and strategic partners.”  

About Pluri Inc.

Pluri is pushing the boundaries of science and engineering to create cell-based products for commercial use and is pioneering a biotech revolution that promotes global wellbeing and sustainability. The Company’s technology platform, a patented and validated state-of-the-art 3D cell expansion system, advances novel cell-based solutions for a range of initiatives— from medicine and climate change to food scarcity, animal cruelty and beyond. Pluri’s method is uniquely accurate, scalable, cost-effective, and consistent from batch to batch. Pluri currently operates in the field of regenerative medicine, food-tech and biologics and aims to establish partnerships that leverage the Company’s 3D cell-based technology to additional industries that require effective, mass cell production. To learn more, visit us at www.pluri-biotech.com or follow us on LinkedIn and Twitter.

Safe Harbor Statement

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Pluri is using forward-looking statements when it discusses the potential improvements that may be realized through the PluriMatrix technology, the potential sectors that may benefit from this technological improvement and that the technology vastly extends its target markets, that the PluriMatrix technology potentially unlocks tremendous value and has the potential to solve some of humanity’s greatest needs by improving health, increasing access to food and food safety, and creating a wide range of cell-based products, while taking better care of our earth. These forward-looking statements and their implications are based on the current expectations of the management of Pluri only and are subject to a number of 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 the forward-looking statements about Pluri: changes in technology and market requirements; Pluri may encounter delays or obstacles in launching and/or successfully completing its clinical trials, if necessary; its products may not be approved by regulatory agencies, its technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; it may be unable to retain or attract key employees whose knowledge is essential to the development of its products; unforeseen scientific difficulties may develop with its processes; its products may wind up being more expensive than it anticipates; results in the laboratory may not translate to equally good results in real clinical settings; its patents may not be sufficient; its products may harm recipients or consumers; changes in legislation with an adverse impact; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Pluri to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Pluri undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Pluri reference is made to Pluri's reports filed from time to time with the Securities and Exchange Commission.

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