Acquisition of approximately 71% stake in Kokomodo Ltd.
Acquisition uniquely combines Pluri's mass-scale cell production expertise with Kokomodo Ltd.’s ability to craft real, controlled, climate-resilient cacao using cellular agriculture technology
HAIFA, Israel, April 28, 2025 (GLOBE NEWSWIRE) -- Pluri Inc. (Nasdaq: PLUR) (TASE: PLUR) (“Pluri” or the “Company”), a leading biotechnology company leveraging its proprietary platform for cell-based solutions to create a collaborative network of ventures, today announced the completion of the acquisition of approximately 71% of the equity of Kokomodo Ltd. (“Kokomodo”), an innovative AgFoodTech company specializing in cultivated cacao production, for $4.5 million payable in 976,139 of the Company’s Common Shares (the “Common Shares” and the “Kokomodo Transaction”, respectively). Kokomodo will continue to operate as an independent company and a subsidiary of Pluri, maintaining its mission, team, and brand identity under the leadership of its Co-Founder and Chief Executive Officer Tal Govrin, while benefiting from being part of the Pluri group.
“We are incredibly excited to join forces with Pluri,” said Tal Govrin, Chief Executive Officer and Co-founder of Kokomodo. “Scaling breakthrough innovation in food requires both technological expertise and market reach. By teaming up with Pluri, we believe that we will gain the ability to accelerate our production capabilities, expand globally, and remain true to our founding mission. I am proud to continue leading Kokomodo and we look forward to demonstrating how cellular agriculture technology can revolutionize the cacao industry with more sustainable, consistent, and adaptable products.”
“At Pluri, we are committed to pioneering sustainable solutions that address critical challenges in the global food industry,” said Yaky Yanay, Chief Executive Officer and President of Pluri. “With the closing of this strategic acquisition, we believe that we are uniquely positioned to lead innovation in the cultivated cacao sector. This acquisition advances our mission of transforming global food systems through biotechnology while adding complementary technology to our portfolio. By combining Pluri's proven expertise in scalable and cost-effective cell production with Kokomodo's innovative approach to cultivated cacao, we believe that this acquisition can address growing concerns about climate change impacts on traditional cacao farming, while meeting increasing consumer demand for sustainable cacao-based products.”
According to Grand View Research, the global cacao market was valued at $13.5 billion in 2023 and expected to grow at a CAGR of 8.2% to $23.5 billion by 2030.
About Kokomodo
Kokomodo crafts real, controlled, climate-resilient cacao using cellular agriculture technology, making high-quality cacao accessible globally, all year round. By cultivating cacao directly from plant cells, Kokomodo preserves the rich flavor, functionality, and nutritional qualities of cacao while minimizing the environmental, ethical, and supply chain challenges of traditional production. With a diverse library of cacao cell lines, Kokomodo enables the development of tailored cacao ingredients that are essential for the chocolate industry, while also creating new opportunities for functional ingredients and wellness products. The company is led by Co-Founder and Chief Executive Officer, Tal Govrin, and Chief Technology Officer, Dario Breitel, PhD, and has been recognized by leading global accelerators for its innovation at the intersection of food, wellness, and sustainability. To learn more, visit www.thekokomodo.com or follow Kokomodo on LinkedIn.
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 well-being and sustainability. The Company’s technology platform, a patented and validated state-of-the-art 3D cell expansion system, enables the development of novel cell-based solutions to address some of the world’s most pressing challenges—from medicine and climate change to food scarcity and animal welfare. Pluri’s platform is uniquely accurate, scalable, cost-effective, and consistent from batch to batch. The Company operates in the regenerative medicine, foodtech, and agtech sectors and provides Contract Development and Manufacturing Organization services. Through strategic partnerships, Pluri aims to deploy its proprietary 3D cell-based technology across various industries that demand effective and scalable cell production. To learn more, visit www.pluri-biotech.com or follow Pluri on LinkedIn and X (formerly known as Twitter).
Safe Harbor Statement
This press release contains express or implied forward-looking statements within the meaning of 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 expected benefits from the completion of the Kokomodo Transaction; the belief that cellular agriculture technology can revolutionize the cacao industry; the expectation that the acquisition will accelerate its production capabilities and expansion into the cultivated cacao market, and support ongoing innovation and strategic growth across its cell-based technology platform; the belief that the acquisition of Kokomodo will enable Pluri to drive growth and expansion of Kokomodo’s operations by leveraging its cultivated cacao solutions to capitalize on growing demand for sustainable food technologies; and the belief that the synergy between Kokomodo’s advancements in cell line development and Pluri’s industrial-scale production will create a strong foundation for innovation and industry leadership in cultivated cacao.
These forward-looking statements and their implications are based on the current expectations of Pluri’s management 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: the expected benefits from the completed transaction may not be realized as anticipated; Pluri may encounter delays or obstacles in integrating Kokomodo’s operations; changes in technology or market conditions; Pluri may face challenges in launching or scaling new products; regulatory developments could impact commercialization efforts; its technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; unforeseen scientific or operational challenges; and intensified competition in the cultivated food space.
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 the Company’s reports filed from time to time with the Securities and Exchange Commission.
