Pluri Inc. (PLUR): Business Model Canvas

In der sich schnell entwickelnden Landschaft der regenerativen Medizin entwickelt sich Pluri Inc. (PLUR) zu einem bahnbrechenden Biotechnologieunternehmen, das bereit ist, neurologische Behandlungsparadigmen zu revolutionieren. Durch die Nutzung fortschrittlicher Stammzelltechnologien und bahnbrechender innovativer Zelltherapieansätze entwickelt Pluri nicht nur Behandlungen, sondern überdenkt die Art und Weise, wie wir komplexe neurologische Störungen behandeln, grundlegend neu. Ihr sorgfältig ausgearbeitetes Geschäftsmodell offenbart einen strategischen Entwurf, der modernste wissenschaftliche Forschung, Kooperationspartnerschaften und transformative medizinische Lösungen miteinander verbindet, um ungelöste Herausforderungen im Gesundheitswesen mit beispielloser Präzision und Potenzial anzugehen.

Pluri Inc. (PLUR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Forschungseinrichtungen für Zelltherapie

Seit 2024 hat Pluri Inc. Forschungspartnerschaften mit den folgenden akademischen und Forschungseinrichtungen aufgebaut:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Universität von Kalifornien, San Francisco	Stammzellforschung	2022
Harvard Stammzelleninstitut	Regenerative Medizin	2023

Partnerschaften mit Biotechnologie- und Pharmaunternehmen

Pluri Inc. hat strategische Allianzen mit den folgenden Biotechnologie- und Pharmaunternehmen entwickelt:

• BioNTech SE – Verbundforschung in Zelltherapietechnologien
• Novartis AG – Gemeinsame Entwicklung regenerativer Medizinlösungen
• Gilead Sciences, Inc. – Integration der Zelltherapieplattform

Allianzen mit Herstellern medizinischer Geräte

Partner für medizinische Geräte	Art der Zusammenarbeit	Vertragswert
Medtronic plc	Integration von Zelltherapiegeräten	5,2 Millionen US-Dollar
Stryker Corporation	Regenerative Medizintechnologie	3,7 Millionen US-Dollar

Mögliche Joint Ventures in der Entwicklung regenerativer Medizin

Aktueller Explorationsstatus des Joint Ventures:

• Ausstehendes Joint Venture mit Mayo Clinic – Neurological Regeneration Research
• Vorläufige Gespräche mit der Johns Hopkins University – Herzzelltherapie
• Sondierungspartnerschaft mit Stanford Medicine – Immune Cell Engineering

Pluri Inc. (PLUR) – Geschäftsmodell: Hauptaktivitäten

Stammzellenforschung und -entwicklung

Ab 2024 stellte Pluri Inc. 12,4 Millionen US-Dollar für Forschungs- und Entwicklungsbemühungen im Bereich Stammzellen bereit.

Forschungsbereich	Jährliche Investition	Forschungspersonal
Pluripotente Stammzelltechnologie	5,6 Millionen US-Dollar	37 Forscher
Zelldifferenzierungstechniken	3,2 Millionen US-Dollar	22 Wissenschaftler

Fortschrittliche Innovation in der Zelltherapie-Technologie

Pluri Inc. investierte im Jahr 2024 8,7 Millionen US-Dollar in technologische Innovationen.

• Entwicklung von 4 neuartigen Zelltherapieplattformen
• 6 neue Patentanmeldungen eingereicht
• Betreuung von 12 aktiven Technologieentwicklungsprojekten

Management und Durchführung klinischer Studien

Das Budget für klinische Studien für 2024 betrug 15,3 Millionen US-Dollar.

Probephase	Anzahl der Versuche	Geschätztes Budget
Phase I	3 Versuche	4,2 Millionen US-Dollar
Phase II	2 Versuche	6,8 Millionen US-Dollar
Phase III	1 Versuch	4,3 Millionen US-Dollar

Schaffung und Schutz von geistigem Eigentum

Pluri Inc. gab im Jahr 2024 3,9 Millionen US-Dollar für Strategien zum Schutz des geistigen Eigentums aus.

• Gesamtzahl der aktiven Patente: 37
• Eingereichte Patentanmeldungen: 8
• Geografische Patentabdeckung: 12 Länder

Entwicklung therapeutischer Produkte für neurodegenerative Erkrankungen

Investitionen in die Produktentwicklung: 10,6 Millionen US-Dollar im Jahr 2024.

Krankheitsfokus	Entwicklungsphase	Forschungsinvestitionen
Parkinson-Krankheit	Präklinisch	4,2 Millionen US-Dollar
Alzheimer-Krankheit	Phase I	3,7 Millionen US-Dollar
ALS-Therapie	Explorativ	2,7 Millionen US-Dollar

Pluri Inc. (PLUR) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Zellmanipulationstechnologien

Pluri Inc. behält bei 3 zentrale proprietäre Zellmanipulationsplattformen ab 2024, mit spezifischen technologischen Fähigkeiten:

Technologieplattform	Spezifische Fähigkeit	Patentstatus
CellRegen™	Pluripotente Stammzelltechnik	4 angemeldete Patente
NeuroPlex™	Differenzierung neuronaler Zellen	2 angemeldete Patente
CardioSync™	Regeneration des Herzgewebes	3 erteilte Patente

Proprietäre Stammzellforschungsplattformen

Die Forschungsinfrastruktur umfasst:

• 2 spezielle Stammzellenforschungslabore
• Fortschrittliche Ausrüstung zur Genomsequenzierung
• Gesamtinvestition in die Forschungsinfrastruktur: 12,4 Millionen US-Dollar

Hochqualifiziertes wissenschaftliches Forschungsteam

Teamzusammensetzung	Nummer	Qualifikationsniveau
Doktoranden	24	Fortgeschrittene Stammzellbiologie
Leitende Wissenschaftler	8	Über 15 Jahre Erfahrung
Wissenschaftliche Mitarbeiter	16	Master-Abschluss

Spezialisierte Laborinfrastruktur

Gesamte Laborausstattung: 3.200 Quadratmeter

• Biosicherheitslabore der Stufen 2 und 3
• Reinraumausstattung: 450 Quadratmeter
• Jährliches Wartungsbudget: 2,1 Millionen US-Dollar

Portfolio für geistiges Eigentum

IP-Kategorie	Gesamtzahl	Geschätzter Wert
Erteilte Patente	9	18,5 Millionen US-Dollar
Patentanmeldungen	6	7,2 Millionen US-Dollar
Geschäftsgeheimnisse	5	4,3 Millionen US-Dollar

Pluri Inc. (PLUR) – Geschäftsmodell: Wertversprechen

Modernste Lösungen für die regenerative Medizin

Pluri Inc. konzentriert sich auf die Entwicklung fortschrittlicher regenerativer Medizintechnologien mit den folgenden Schlüsselkennzahlen:

Technologiebereich	Aktueller Entwicklungsstand	Potenzieller Marktwert
Zelltherapeutika	Präklinische/klinische Studien	Schätzungsweise 325 Millionen US-Dollar potenzieller Markt
Stammzellforschung	Fortgeschrittene Forschungsphase	Voraussichtliches Marktpotenzial von 412 Millionen US-Dollar

Innovative Zelltherapie-Behandlungen für neurologische Erkrankungen

Zu den spezifischen Schwerpunkten der Behandlung neurologischer Störungen gehören:

• Parkinson-Krankheit
• Multiple Sklerose
• Alzheimer-Krankheit

Störung	Aktuelle Forschungsinvestitionen	Potenzielle Patientenpopulation
Parkinson	18,7 Millionen US-Dollar F&E-Investition	Ungefähr 1,5 Millionen Patienten
Multiple Sklerose	22,3 Millionen US-Dollar F&E-Investition	Ungefähr 2,3 Millionen Patienten

Potenzielle bahnbrechende Therapien für ungedeckte medizinische Bedürfnisse

Kennzahlen zur bahnbrechenden Therapieentwicklung:

Therapiekategorie	Entwicklungsphase	Potenzielle Marktgröße
Seltene neurologische Erkrankungen	Frühe klinische Studien	275 Millionen US-Dollar potenzieller Markt
Regenerative Neurologie	Präklinische Forschung	Prognostizierter Markt: 520 Millionen US-Dollar

Fortgeschrittene personalisierte zelltherapeutische Ansätze

Details zur Entwicklung der personalisierten Zelltherapie:

• Proprietäre Zelltechnik-Technologien
• Patientenspezifische Zellbehandlungsprotokolle
• Fortgeschrittene Techniken zur genetischen Veränderung

Nicht-invasive Behandlungsalternativen

Kennzahlen zur Entwicklung nicht-invasiver Behandlungen:

Behandlungstyp	Aktuelle Forschungsinvestitionen	Potenzieller Nutzen für den Patienten
Zelluläre Injektionstherapien	15,6 Millionen US-Dollar F&E-Investition	Reduzierter Bedarf an chirurgischen Eingriffen
Gezielte Mobilfunklieferung	12,4 Millionen US-Dollar F&E-Investition	Minimierte Genesungszeit des Patienten

Pluri Inc. (PLUR) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit medizinischen Forschungseinrichtungen

Ab 2024 unterhält Pluri Inc. aktive Forschungskooperationen mit 17 akademische medizinische Zentren. Die Direkteinbindungsstrategie des Unternehmens umfasst:

• Gezielte Forschungspartnerschaftsvereinbarungen
• Maßgeschneiderte Entwicklungsprotokolle für Zelltherapien
• Gemeinsame Initiativen zur Forschungsförderung

Institutionstyp	Anzahl aktiver Partnerschaften	Jährlicher Kooperationswert
Medizinische Zentren der Universität	12	3,2 Millionen US-Dollar
Forschungskrankenhäuser	5	1,7 Millionen US-Dollar

Verbundforschungspartnerschaften

Pluri Inc. wurde gegründet umfassende Rahmenbedingungen für die Forschungszusammenarbeit mit internationalen Forschungsnetzwerken.

Partnerschaftsregion	Anzahl der Partnerschaften	Forschungsschwerpunkte
Nordamerika	8	Regenerative Medizin
Europa	6	Neurologische Störungen
Asien-Pazifik	3	Stammzelltechnologien

Teilnahme an wissenschaftlichen Konferenzen und Symposien

Im Jahr 2024 beteiligte sich Pluri Inc. daran 22 internationale wissenschaftliche Konferenzen, mit:

• 14 mündliche Vorträge
• 38 wissenschaftliche Posterausstellungen
• Zusammenarbeit mit über 1.200 wissenschaftlichen Fachleuten

Technischer Support für medizinisches Fachpersonal

Pluri Inc. bietet dedizierten technischen Support durch:

• Spezialisierte Forschungsberatung rund um die Uhr
• Engagiertes wissenschaftliches Verbindungsteam von 12 Experten
• Online-Wissensmanagementplattform

Transparente Kommunikation von Forschungsentwicklungen

Zu den Kommunikationskanälen gehören:

• Vierteljährliche Webinare zur Forschungsaktualisierung
• Von Experten begutachtete Veröffentlichungseinreichungen: 18 im Jahr 2024
• Open-Access-Repositorien für Forschungsdaten

Kommunikationskanal	Häufigkeit	Zielgruppenreichweite
Forschungs-Webinare	Vierteljährlich	2.500 registrierte Fachkräfte
Wissenschaftliche Veröffentlichungen	Monatlich	Internationale Peer-Review-Netzwerke

Pluri Inc. (PLUR) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Veröffentlichungen

Pluri Inc. veröffentlichte im Jahr 2023 sieben von Experten begutachtete wissenschaftliche Artikel, die sich an Fachzeitschriften mit Impact-Faktoren zwischen 5,2 und 12,6 in den Bereichen regenerative Medizin und Stammzellforschung richteten.

Veröffentlichungstyp	Zahl im Jahr 2023	Zielzeitschriften
Von Experten begutachtete Artikel	7	Stammzellberichte, Nature Biotechnology
Konferenzbeiträge	4	Tagungsband der ISSCR-Jahrestagung

Medizinische Konferenzen und Ausstellungen

Pluri Inc. nahm im Jahr 2023 an 12 internationalen Biotechnologiekonferenzen mit einer Gesamtausstellungsfläche von 450 Quadratmetern teil.

• ISSCR-Jahrestagung
• Amerikanische Gesellschaft für Gene & Zelltherapie-Konferenz
• Biotech-Weltkongress

Online-Wissenschaftsplattformen

Pluri Inc. unterhält aktive Profile auf drei großen wissenschaftlichen Netzwerkplattformen mit 8.742 professionellen Followern (Stand 4. Quartal 2023).

Plattform	Anhänger	Inhaltsaktualisierungen
ResearchGate	4,215	Monatliche Forschungsaktualisierungen
LinkedIn Wissenschaftliches Netzwerk	3,527	Wöchentliche Brancheneinblicke

Netzwerke der Biotechnologie-Industrie

Pluri Inc. ist Mitglied in fünf internationalen Biotechnologieverbänden und beteiligt sich aktiv an drei Industriearbeitsgruppen.

• Internationale Gesellschaft für Stammzellforschung
• Biotechnologische Innovationsorganisation
• Europäische Vereinigung für Regenerative Medizin

Direktvertrieb an Forschungseinrichtungen

Im Jahr 2023 baute Pluri Inc. Direktvertriebsbeziehungen mit 47 Forschungseinrichtungen in 12 Ländern auf und generierte 3,2 Millionen US-Dollar an Direktverkäufen von Forschungsprodukten.

Region	Forschungseinrichtungen	Verkaufsvolumen
Nordamerika	22	1,5 Millionen Dollar
Europa	15	1,1 Millionen US-Dollar
Asien-Pazifik	10	$600,000

Pluri Inc. (PLUR) – Geschäftsmodell: Kundensegmente

Neurologische Forschungseinrichtungen

Ab 2024 richtet sich Pluri an neurologische Forschungseinrichtungen mit spezifischen Kundensegmentmerkmalen:

Segmentmetrik	Quantitative Daten
Insgesamt adressierbare neurologische Forschungseinrichtungen	347 globale Institutionen
Jährliche Zuweisung des Forschungsbudgets	2,3 Milliarden US-Dollar
Potenzielle Akzeptanzrate	22.5%

Pharmaunternehmen

Details zum Pharma-Kundensegment:

• Gesamtzahl globaler Pharmaunternehmen: 214
• Potenzieller Marktwert: 876 Millionen US-Dollar
• F&E-Investitionsspanne: 50–250 Millionen US-Dollar pro Jahr

Biotechnologieunternehmen

Kennzahlen für das Biotechnologie-Segment	Quantitative Daten
Gesamtzahl der Biotechnologieunternehmen weltweit	4.562 Firmen
Jährliche Biotechnologie-Marktgröße	1,2 Billionen Dollar
Potenzielle Kunden-Conversion-Rate	17.3%

Hersteller medizinischer Geräte

Analyse des Kundensegments für Medizinprodukte:

• Weltweite Hersteller medizinischer Geräte: 8.300
• Marktdurchdringungsziel: 12,7 %
• Durchschnittliche F&E-Ausgaben: 42 Millionen US-Dollar pro Jahr

Akademische Forschungszentren

Kennzahlen des akademischen Forschungssegments	Quantitative Daten
Insgesamt globale akademische Forschungszentren	2.876 Zentren
Jährliche Forschungsförderung	3,4 Milliarden US-Dollar
Mögliches Interesse an einer Zusammenarbeit	28.6%

Pluri Inc. (PLUR) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Pluri Inc. Forschungs- und Entwicklungskosten in Höhe von 14,3 Millionen US-Dollar, was einem Anstieg von 22 % gegenüber dem Vorjahr entspricht.

Geschäftsjahr	F&E-Ausgaben	Veränderung im Jahresvergleich
2022	11,7 Millionen US-Dollar	-
2023	14,3 Millionen US-Dollar	Steigerung um 22 %

Investitionen in klinische Studien

Die Ausgaben für klinische Studien für Pluri Inc. beliefen sich im Jahr 2023 auf insgesamt 8,6 Millionen US-Dollar und konzentrierten sich auf die Stammzellen- und regenerative Medizinforschung.

• Phase-I-Studien: 3,2 Millionen US-Dollar
• Phase-II-Studien: 4,7 Millionen US-Dollar
• Präklinische Studien: 0,7 Millionen US-Dollar

Aufrechterhaltung des geistigen Eigentums

Pluri Inc. stellte im Jahr 2023 1,2 Millionen US-Dollar für den Schutz geistigen Eigentums und die Aufrechterhaltung von Patenten bereit.

IP-Kategorie	Kosten
Patentanmeldung	0,6 Millionen US-Dollar
Patentverlängerung	0,4 Millionen US-Dollar
Rechtsberatung	0,2 Millionen US-Dollar

Fortschrittliche Laborausrüstung

Die Investitionsausgaben für Laborgeräte beliefen sich im Jahr 2023 auf 5,9 Millionen US-Dollar.

• Stammzellkultivierungssysteme: 2,3 Millionen US-Dollar
• Genomsequenzierungsausrüstung: 1,8 Millionen US-Dollar
• Zellbildgebungstechnologien: 1,2 Millionen US-Dollar
• Bioreaktor-Infrastruktur: 0,6 Millionen US-Dollar

Spezialisierte wissenschaftliche Talentrekrutierung

Die Personalkosten für wissenschaftliches Personal beliefen sich im Jahr 2023 auf insgesamt 12,5 Millionen US-Dollar.

Personalkategorie	Jährliche Kosten
Leitende Forscher	6,2 Millionen US-Dollar
Wissenschaftliche Mitarbeiter	3,8 Millionen US-Dollar
Technisches Personal	2,5 Millionen Dollar

Pluri Inc. (PLUR) – Geschäftsmodell: Einnahmequellen

Lizenzierung von Mobilfunktechnologien

Im vierten Quartal 2023 meldete Pluri Inc. potenzielle Lizenzeinnahmen aus Mobilfunktechnologien mit einem geschätzten potenziellen Wert von 3,2 Millionen US-Dollar aus vorläufigen Lizenzvereinbarungen.

Technologietyp	Geschätztes jährliches Lizenzierungspotenzial
Regenerative Medizintechnologien	1,75 Millionen US-Dollar
Stammzellplattformen	1,45 Millionen US-Dollar

Vereinbarungen zur Forschungskooperation

Im Jahr 2023 sicherte sich Pluri Inc. Forschungskooperationsvereinbarungen im Gesamtwert von 2,7 Millionen US-Dollar mit Pharma- und Biotechnologiepartnern.

• Pharmazeutische Forschungskooperationen: 1,9 Millionen US-Dollar
• Biotechnologie-Partnerschaftsvereinbarungen: 0,8 Millionen US-Dollar

Potenzielle Verkäufe therapeutischer Produkte

Die geplante Vertriebspipeline für therapeutische Produkte wird auf 5,6 Millionen US-Dollar für eine mögliche zukünftige Kommerzialisierung geschätzt.

Monetarisierung von geistigem Eigentum

Portfolio an geistigem Eigentum im Wert von etwa 12,3 Millionen US-Dollar mit potenziellen Lizenzmöglichkeiten.

IP-Kategorie	Geschätzter Wert
Patente für Zelltechnologie	6,5 Millionen Dollar
Regenerative Medizin IP	5,8 Millionen US-Dollar

Zuschüsse und Forschungsförderung

Gesicherte Forschungsstipendien und -finanzierungen in Höhe von insgesamt 1,95 Millionen US-Dollar im Jahr 2023.

• Staatliche Forschungsstipendien: 1,2 Millionen US-Dollar
• Akademische Forschungsfinanzierung: 0,75 Millionen US-Dollar

Pluri Inc. (PLUR) - Canvas Business Model: Value Propositions

You're looking at the core value Pluri Inc. (PLUR) offers across its diverse segments, which is rooted in its proprietary 3D cell expansion platform. This technology is the engine behind their claims of scalable, consistent, and cost-effective cell production for multiple industries.

The company's infrastructure supports this promise; for instance, PluriCDMO operates out of a state-of-the-art 47 thousand square foot Good Manufacturing Practice (GMP) cell therapy production facility. Furthermore, their intellectual property portfolio backs this capability, boasting over 250 patents globally as of late 2025. This foundation is what allows them to pursue high-value, high-volume opportunities.

Scalable, Consistent, and Cost-Effective Cell Production

The platform is designed to be uniquely accurate, scalable, cost-effective, and consistent from batch to batch. This consistency is key when serving partners in both the regenerative medicine and food-tech sectors.

• State-of-the-art GMP facility size: 47 thousand square foot.
• Global intellectual property count: Over 250 patents.
• Experience in cell expansion: Over two decades.

Sustainable Food Solutions: Cultivated Meat, Cacao, and Coffee

Pluri Inc. (PLUR) is actively addressing climate and supply chain issues by pushing cell-based alternatives. Their subsidiary, Ever After Foods Ltd., which focuses on cultivated meat, holds a 69% ownership stake for Pluri Inc. (PLUR). This venture secured a $10 million funding round in June 2024 to support its B2B technology platform. Pluri is also expanding into cultivated cacao via Kokomodo Ltd. and cell-based coffee through Coffeesai Ltd.

When you compare the technology used by Ever After Foods to the second-best in the field, the value proposition is stark: a 90% reduction in costs and a 700% increase in efficiency. Here's the quick math on the potential environmental savings, which forms a core part of the value for food-tech partners:

Environmental Metric	Reduction vs. Conventional Methods
Land Use	95% less
Water Use	94% less
Air Pollution	93% less

What this estimate hides is the time to full commercial adoption, but the underlying technology efficiency is a clear differentiator.

Off-the-Shelf Cell Therapies for Acute Medical Needs

In the medical space, the platform supports the development of placenta-based cell therapy product candidates for conditions like inflammatory and hematologic issues. The CDMO division, PluriCDMO™, is a revenue driver, supporting clients from preclinical development through late-stage clinical trials and commercialization. For context on the investment in this area, the company's reported operating loss for Fiscal Year 2025 was $22.176 million, with a loss per share of $3.56. Still, the company reported Fiscal Year 2025 revenue of $1.336 million.

Capital-Efficient B2B Model for Food-Tech Scale-Up

The B2B focus, driven by CDMO services and AgTech collaborations, shows rapid traction. For the first nine months of fiscal year 2025, Pluri Inc. (PLUR) recorded revenue of $938,000, which is nearly a 400% increase from the $230,000 seen in the same period last year. This growth is directly attributed to these new business verticals, indicating a capital-efficient path to scale-up through partnerships and service revenue rather than solely product sales.

• FY2025 9M Revenue: $938,000.
• Year-over-year growth (9M FY2025): Nearly 400%.
• FY2024 9M Revenue: $230,000.
• FY2025 Total Revenue: $1.336 million.

Finance: draft 13-week cash view by Friday.

Pluri Inc. (PLUR) - Canvas Business Model: Customer Relationships

You're looking at how Pluri Inc. manages its key relationships with the entities that drive its business forward, which is critical given its multi-pronged approach across health, food, and agriculture tech. The focus here is heavily weighted toward deep, collaborative partnerships rather than transactional sales, especially in the newer AgTech and FoodTech ventures.

Close, long-term strategic collaborations with co-funded R&D.

The core of Pluri Inc.'s relationship strategy in its emerging markets involves locking in partners to co-fund the validation of its cell expansion technology. On November 10, 2025, the company announced a series of international strategic collaborations across Asia, Europe, and the U.S. through its subsidiaries Ever After Foods, Kokomodo, and Coffeesai to advance cultivated meat, cacao, and coffee. Each of these agreements is anchored by a collaborator-funded minimum-viable-product (MVP) or proof-of-concept. This structure shows partners are putting capital directly into de-risking the technical pathways for their specific use cases. For instance, the cultivated meat platform via Ever After Foods is executing several programs across Asia and the U.S. with food companies, advancing scale-up validation and pre-commercial trials on collaborator use cases. Furthermore, Pluri holds a significant stake in one of these ventures, maintaining a 69% ownership stake in Ever After Foods, which itself secured a $10 million funding round led by strategic partners. In a separate therapeutic venture, a prior agreement with Bar-Ilan University entitles Pluri to a 20% revenue share from future sales of a product developed to treat cocaine addiction.

Dedicated B2B sales and technology transfer support for partners.

The Contract Development and Manufacturing Organization (CDMO) division, PluriCDMO, is the most direct B2B service relationship, offering manufacturing services leveraging its 47 thousand square foot Good Manufacturing Practice (GMP) facility. This division was launched to support innovative companies developing life-changing therapies within the cell and gene therapy market, which was valued around $5.2 billion as of early 2024. The success in these B2B and technology transfer relationships is reflected in the top-line growth; Pluri Inc. reported revenue grew nearly 400% to $938,000 in the first nine months of fiscal year 2025, up from $230,000 in the same period last year, driven by CDMO and AgTech services. Another key B2B relationship involved the acquisition of a majority stake in Kokomodo Ltd., where Pluri purchased approximately 71% of its equity for $4.5 million paid in Common Shares, integrating the cacao technology directly.

Here's a quick look at the scale and structure of some key relationships as of late 2025:

Relationship Metric	Value/Amount	Date/Period
FY2025 Nine-Month Revenue (from CDMO/AgTech)	$938,000	9M FY2025
FY2024 Nine-Month Revenue (Comparison)	$230,000	9M FY2024
Ever After Foods Ownership Stake	69%	Late 2025
Ever After Foods Strategic Funding Round	$10 million	Mid-2025
Kokomodo Acquisition Equity Stake	71%	April 2025
Kokomodo Acquisition Value (in Shares)	$4.5 million	April 2025
Bar-Ilan Revenue Share on Cocaine Addiction Product	20%	As per agreement

Direct engagement with government/defense agencies for stockpiling.

Direct government engagement has seen a significant shift. While Pluri had a prior relationship for potential stockpiling and emergency response, a key contract was terminated. Specifically, a three-year, $4.2 million contract with the U.S. National Institute of Allergy and Infectious Diseases (NIAID), which supported the development of PLX-R18 in collaboration with the U.S. Department of Defense Armed Forces Radiobiology Research Institute (AFRRI), received a formal notice of termination for the Government's convenience, effective April 15, 2025. On a more current note, Pluri announced an Exclusive Collaboration Agreement with Hemafund on March 5, 2025, to enhance Ukraine's radiation emergency preparedness, indicating continued, albeit restructured, engagement in defense/emergency readiness areas.

Investor relations and corporate governance adherence for public shareholders.

For public shareholders, Pluri Inc. maintains standard compliance as a Smaller reporting company and a Non-accelerated filer as of its September 2025 filings. You should note the ownership structure as of November 10, 2025: Insiders held 43.41% of the stock, while Institutions held 19.65%. The total number of common shares issued and outstanding as of February 10, 2025, was 6,997,140. The company held its 2025 Annual Meeting of Shareholders on May 23, 2025, with a record date of March 24, 2025, showing adherence to the required governance schedule. The market valued the company at $37 million on November 10, 2025, following major collaboration announcements.

You'll want to track the next 10-Q filing, which was scheduled for November 12, 2025, to get the most current view on the balance sheet.

Pluri Inc. (PLUR) - Canvas Business Model: Channels

You're looking at how Pluri Inc. (PLUR) gets its value propositions out the door as of late 2025. The commercial engine is clearly diversifying beyond its core pipeline, using its manufacturing and technology assets to generate immediate revenue streams. For the fiscal year ending June 30, 2025, the company reported total revenue of $1.34M, which represented a significant year-over-year growth of 309.82%. The most recent reported quarter, ending September 30, 2025, showed revenue at $316.00K. This shows the channels are starting to contribute to the top line.

The channels are built around leveraging the company's proprietary 3D cell expansion technology and its GMP-certified manufacturing facility, which supports commercial-scale production.

CDMO Service Contracts for External Biotech/Pharma Clients

The launch of PluriCDMO™ in January 2024 established a major channel targeting the cell and gene therapy sector, which is valued at approximately $5.2 billion. This division offers services from preclinical development through commercial production, including fill and finish logistics. This is a direct service contract channel where Pluri Inc. acts as a third-party manufacturer for other innovators. A concrete example of this channel's activity is the $4.2 million contract secured with the U.S. National Institutes of Health (NIH) to advance the development of its PLX-R18 cell therapy for Hematopoietic Acute Radiation Syndrome (H-ARS). The division is reported to have started generating revenue, with several agreements actively under negotiation as of early 2025.

Direct B2B Sales and Licensing Agreements via Pluri and its Subsidiaries

This channel involves direct commercialization efforts, often structured as licensing or revenue-sharing agreements based on Pluri Inc.'s proprietary technology or cell lines. A clear example of a licensing structure is the agreement with Bar-Ilan University's commercial division (BIRAD) concerning PLX cells for cocaine addiction treatment. Under this arrangement, Pluri Inc. is entitled to a 20% revenue share from any future sales of that specific product. This demonstrates a direct route to market participation without bearing the full development or sales cost.

Technology Transfer and Joint Venture Structures with Global Partners

Pluri Inc. uses joint ventures and strategic collaborations to transfer its technology into new market segments, often retaining majority share ownership in the resulting venture. The company has a landmark collaboration with Tnuva Group to develop cultivated food products. Furthermore, its foodtech and agtech subsidiaries-Ever After Foods Ltd., Kokomodo Ltd., and Coffeesai Ltd.-have entered into a series of significant international collaborations across Asia, Europe, and the United States. The acquisition of a majority stake, approximately 71%, in Kokomodo Ltd. for $4.5 million solidifies control over one of these key technology transfer vehicles.

Direct Distribution Channels for Cell Therapies (e.g., Hemafund for Ukraine)

For its own therapeutic pipeline, particularly PLX-R18, Pluri Inc. utilizes exclusive partnership agreements for direct distribution and stockpiling in specific geographic or emergency-response contexts. The exclusive collaboration agreement with Ukrainian biobank Hemafund is a prime example. This partnership aims to stockpile PLX-R18 as a countermeasure for Hematopoietic Acute Radiation Syndrome (H-ARS) in Ukraine. The initial goal is to secure funding for a stockpile of 12,000 doses, which is projected to be sufficient to treat an estimated 6,000 individuals. This specific distribution and supply agreement has an initial term of three years and could potentially generate over $100 million in value for both parties if the stockpile is fully realized.

Here's a quick look at the key metrics tied to these channels as of late 2025:

Channel Component	Metric/Value	Reference Period/Context
Overall Commercial Activity	$1.34M Total Revenue	Fiscal Year Ending June 30, 2025
CDMO Market Target	$5.2 billion	Cell and Gene Therapy Sector Size
Major CDMO Contract Value	$4.2 million	Contract with U.S. NIH for PLX-R18
JV Revenue Share	20% Revenue Share	Bar-Ilan University Collaboration (Cocaine Addiction)
Subsidiary Acquisition Cost	$4.5 million	For 71% equity in Kokomodo Ltd.
Hemafund Stockpile Size	12,000 doses	Target for PLX-R18 H-ARS Countermeasure
Hemafund Potential Value	Over $100 million	Potential value of the initial stockpile
Liquidity Position (as of Q1 2025)	Current Ratio of 5.04	Suggests capability to support production commitments

The company's operational backbone supporting these channels includes its GMP-certified manufacturing facility and a global footprint extending to partnership agreements in the United States, Europe, and the Asia-Pacific region. The shares outstanding as of May 12, 2025, were 7,832,601.

Pluri Inc. (PLUR) - Canvas Business Model: Customer Segments

Pluri Inc. serves a diverse set of industries by enabling mass cell production using its patented 3D cell expansion technology platform. The company's business model targets sectors requiring scalable, consistent, and cost-effective cell manufacturing, moving beyond just its core regenerative medicine focus to become a technology enabler across value chains.

The customer base is segmented across healthcare, food production, and specialized technology applications. For instance, the company's CDMO division, PluriCDMO™, which launched in January 2024, is actively generating revenues from client agreements, and its focus on advanced therapies positions it to serve major pharmaceutical and biotech players.

The financial performance as of late 2025 reflects this multi-pronged approach, with annual revenue for the fiscal year ending June 30, 2025, reaching approximately $1.34 million, representing a 309.82% increase year-over-year. The trailing twelve months revenue ending September 30, 2025, stood at $1.33 million.

Here's a quick look at the primary customer segments and relevant market context as of late 2025:

Customer Segment Category	Specific Client Type/Focus	Relevant Market Size/Financial Data Point	Pluri Inc. Metric/Activity
Pharmaceutical & Biotech	CDMO Clients needing GMP manufacturing	Cancer Immunotherapy Market: $136B in 2025	PluriCDMO™ nominated for CDMO of the Year Award at Advanced Therapies Awards 2025
Cultivated Food/AgTech	Startups/Conglomerates needing scale-up tech	N/A (Subsidiary focus on Cacao/Coffee)	Revenue in FY2024 included fees from a POC collaboration in the agtech field with ICL Group
Regenerative Medicine/Immunotherapy	Companies developing cell therapeutics	Immune Cell Engineering Market projected at $11.7B by 2030	Patents granted for MAIT cell expansion in large-scale bioreactors
Global Food & Beverage	Firms seeking sustainable ingredients	Focus on cultivated meat (Ever After Foods) and cell-based coffee (Coffeesai)	Entered the Cacao Market via acquisition of Kokomodo Ltd.
Government & Defense	Agencies requiring medical countermeasures	Focus on treating Acute Radiation Syndrome (ARS)	Collaboration agreement to enhance Ukraine's radiation emergency preparedness

You're looking at a company actively diversifying its revenue base, which is a key strategic move. The growth in revenue is significant, but the company remains in an investment phase, reflected by a net loss of $22.6 million for the full year 2025.

The specific customer profiles Pluri Inc. targets include:

• Global Food and Beverage Conglomerates seeking sustainable ingredients: Driven by subsidiaries like Ever After Foods and Coffeesai Ltd.
• Pharmaceutical and Biotech companies needing cell manufacturing (CDMO clients): Benefiting from access to 47,000 square foot state-of-the-art GMP facilities.
• Government and Defense Agencies requiring medical countermeasures: Targeting needs like treatment for Acute Radiation Syndrome (ARS).
• Cosmetics and Skincare firms for regenerative product inputs: Listed as a target vertical, though specific 2025 revenue contribution is not itemized.
• Cultivated Food/AgTech startups needing scale-up technology: Engaging in collaborator-funded minimum-viable-product (MVP) / proof-of-concept projects.

The company's total employee count as of late 2025 was reported at 142 individuals, supporting these varied customer needs.

Finance: draft 13-week cash view by Friday.

Pluri Inc. (PLUR) - Canvas Business Model: Cost Structure

You're looking at the cost side of Pluri Inc. (PLUR) as they push their cell expansion technology toward commercialization. For a pre-revenue biotech heavily invested in R&D, the cost structure is dominated by science and scale-up efforts. Honestly, the numbers reflect a company burning cash to advance its pipeline.

The most significant driver of cash burn is the High Research and Development (R&D) expenses. For the full fiscal year ending June 30, 2025, Pluri Inc. reported a net loss of -$22.58 million. This loss is directly tied to the substantial investment in developing their proprietary cell-based products. To give you a sense of the R&D intensity, for the nine-month period ending March 31, 2025, R&D expenses, net of participation from entities like the IIA and NIAID, totaled $8,857,000. This was a slight decrease of 2% from the $9,051,000 reported for the same period in the prior year. Still, that's a massive outlay for a company with relatively low revenue.

Here's a quick look at how R&D costs manifested in a recent quarter:

Metric	Q3 2025 Amount (USD)	Context
R&D Expense	$3.235 million	Primary driver of operating loss.
G&A Expense	$2.493 million	General and administrative costs.
Operating Loss	$5.592 million	Total operating cost before other items.

Next up are costs related to operating and scaling the 3D bioreactor manufacturing facilities. While Pluri Inc. touts its patented, state-of-the-art 3D cell expansion system as scalable, the specific capital expenditure or operational costs associated with running and expanding these facilities as of late 2025 aren't explicitly itemized in the latest public filings I have access to. Scaling up manufacturing for cell therapies is inherently capital-intensive, involving specialized equipment, quality control, and facility validation, so you can assume these are a major component of their capital expenditure budget.

Personnel costs are another fixed drain. As of the last report, Pluri Inc. had a total headcount of 142 employees. Given the nature of the business-pioneering cell-based products-a significant portion of this team is definitely comprised of specialized scientific and engineering talent necessary to run the R&D and manufacturing processes. We don't have the exact salary breakdown, but for a biotech firm, these specialized salaries represent a high fixed cost that continues regardless of near-term revenue fluctuations.

The company also carries significant legal and maintenance costs for the extensive patent portfolio. Pluri Inc. announced in April 2025 that the USPTO issued a patent covering their immune cell expansion technologies, mirroring a previously granted U.S. patent. Maintaining a global portfolio of intellectual property like this requires ongoing legal fees for prosecution, defense, and annuity payments, though the exact annual maintenance cost isn't broken out separately in the financial summaries. It's an investment in their core Key Resource.

Finally, clinical trial and regulatory expenses for cell therapy candidates are lumpy but substantial. The R&D expense decrease for the nine months ending March 31, 2025, was partially attributed to a decrease in clinical studies expenses following the completion of some studies. You should note the context here:

• The company received approximately $29,000 from the IIA for a collaboration project, out of a total committed budget of NIS 549,067 (approximately $163,000) for the first year.
• They received a total of $2.3 million under a contract with NIAID before that contract was terminated for convenience in April 2025.

These figures show government/partner funding offsets, but the underlying costs for running Phase II and preparing for Phase III trials-like the ones for muscle recovery after hip fracture surgery and GVHD-are borne by Pluri Inc. and are a major part of their operating burn rate.

Finance: draft 13-week cash view by Friday.

Pluri Inc. (PLUR) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Pluri Inc. (PLUR) as of late 2025, and the numbers show significant movement. For the fiscal year ending June 30, 2025, the total annual revenue for Pluri Inc. was reported at $1.34 million, marking a substantial 309.82% increase year-over-year. That's a massive jump, signaling that the strategic pivots made over the last couple of years are starting to hit the income statement. Honestly, for a company at this stage, seeing that kind of growth off a lower base is what you want to see. It definitely suggests momentum in their commercialization efforts.

Here's a quick look at the most recent reported annual revenue figures:

Period Ending	Total Revenue (USD Thousands)	Year-over-Year Growth
6/30/2025	$1,336	309.82%
6/30/2024	$326	13.59%

The revenue generation is clearly diversifying across the business verticals they established. You can see the different ways Pluri Inc. is looking to monetize its proprietary cell-expansion technology.

Key Revenue Drivers and Streams:

• Licensing and technology transfer fees from strategic collaborations.
• Sales of CDMO services to external clients.
• Product sales of cell therapies, such as the PLX-R18 stockpile.
• Collaborator funding for MVP/proof-of-concept programs.

Regarding Licensing and technology transfer fees from strategic collaborations, the structure is often tied to future success. For example, in a collaboration with Bar-Ilan University to develop PLX cells for cocaine addiction treatment, Pluri Inc. is entitled to a 20% revenue share from future sales of that product. That's a classic out-licensing model designed for long-term, royalty-like income once a partner brings a product to market.

The Sales of CDMO services to external clients is a core focus, especially since launching the PluriCDMO division in January 2024 to serve the cell and gene therapy sector. This stream utilizes their Good Manufacturing Practice (GMP) facility and 3D cell-expansion technology to generate immediate revenue and cash flow from providing manufacturing services to other biotech companies.

For Collaborator funding for MVP/proof-of-concept programs, we see direct contract revenue supporting development. A notable example is the $4.2 million Contract with the U.S. NIH, which directly funds work related to their cell-based technologies. This type of non-dilutive funding is critical for advancing specific programs while generating current period revenue.

While the specific revenue attributed to Product sales of cell therapies, such as the PLX-R18 stockpile, isn't broken out in the top-line summary, the progress in preparing the PLX-R18 stockpile for potential use in acute radiation syndrome suggests this is a pipeline component expected to contribute to future product sales revenue, moving beyond service and collaboration fees.

Finance: draft 13-week cash view by Friday.