HAIFA, Israel - Pluri Inc. (NASDAQ:PLUR) (TASE:PLUR), a biotechnology firm, has been granted a U.S. patent for a novel method of expanding immune cells, which could significantly impact the cell therapy industry. The patent, entitled "System and Methods for Immune Cells Expansion and Activation in Large Scale," covers a proprietary 3D cell expansion technology designed to mimic the natural environment of immune cells within the human body.
The technology enables the efficient mass production of immune cells while maintaining their integrity and therapeutic efficacy. This advancement is particularly relevant to allogeneic cell therapy, where the scalability of cell production and limited donor cell availability have been major hurdles. Pluri's approach has the potential to address these challenges, thereby expanding treatment options for patients with immune disorders and neurodegenerative diseases.
Yaky Yanay, CEO and President of Pluri, expressed confidence in the technology's ability to meet the growing demand for advanced cell-based therapies and to push the boundaries of medical treatment possibilities.
The global market for immune cell engineering is projected to grow from $2.82 billion in 2023 to $11.66 billion by 2030, with a CAGR of 22.5%. Pluri's patented method is poised to play a pivotal role in this expanding market.
Pluri's business spans regenerative medicine, foodtech, and agtech, offering Contract Development and Manufacturing Organization (CDMO) services. The company is also actively seeking partnerships to leverage its cell-based technology in various industries that require large-scale, effective cell production.
This press release contains forward-looking statements regarding the potential and expectations for Pluri's technology and market growth, and these statements involve risks and uncertainties that could cause actual results to differ materially. The information is based on a press release statement.
InvestingPro Insights
Pluri Inc. (NASDAQ:PLUR), a biotechnology company that recently secured a U.S. patent for its immune cell expansion technology, has shown interesting financial metrics and stock performance that could be of interest to investors. According to InvestingPro data, as of the last twelve months leading up to Q2 2024, Pluri's market capitalization stands at 28.59 million USD. Despite the challenges, analysts are predicting that the company's net income is expected to grow this year, an InvestingPro Tip that aligns with the company's innovative strides in the cell therapy industry.
Another key metric for investors is the company's Price / Book ratio, which is currently at 6.5. This suggests that the stock is trading at a high valuation multiple in comparison to its book value. Additionally, Pluri has experienced a remarkable quarterly revenue growth of 5150.0%, indicating a potentially strong capability to scale up operations and meet market demand.
Investors should note that while the stock has experienced a significant uptick in price over the last six months, with a 25.47% return, it has also been quite volatile, with a 32.05% decline over the last month. This aligns with the InvestingPro Tip highlighting the stock's volatility and recent poor performance over the last month.
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