Pluri Announces Appointment of Entrepreneur Lorne Abony to Board of Directors

HAIFA, Israel, July 13, 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 announced the appointment of Lorne Abony to the Company's Board of Directors, effective as of July 11, 2023. 

Abony is a successful entrepreneur who has decades of experience building and scaling multi-billion-dollar global businesses – both public and private companies – across multiple industries. He is a globally recognized leader who has invested, directly or indirectly, in more than 20 cellular agriculture and cultivated food companies. Bringing his expertise to Pluri's board, he will contribute to the Company's strategic growth plans by utilizing its cell-expansion technology platform across various sectors, such as cultivated food and cellular agriculture.

Mr. Lorne Abony

"Lorne's visionary leadership has made a profound impact across companies, industries, and continents. He understands how to develop and scale both public and private businesses – and how to inspire people along the way. Lorne has driven innovation and progress in cultivated food, as a well-respected leader in the space," said Pluri CEO and President, Yaky Yanay.

"We are excited about the potential that Lorne brings to Pluri's Board, and believe that he will make a tremendous contribution to our bold and ambitious growth strategy," added Pluri Chairman of the Board, Zami Aberman.

"Cultivated foods and cellular agriculture are the future. These rapidly growing industries present a tremendous market opportunity for pioneering companies like Pluri," Mr. Abony said. "I'm thrilled to join Pluri's Board. This proven pioneer in biotech has extraordinary potential to add tremendous value across a range of industries, and create a cleaner, healthier, and more sustainable planet, utilizing its cell expansion technology."

As a founder and executive, Mr. Abony has scaled major ventures including FUN Technology Ltd, Emmac Life Sciences Limited and NuuVera Inc. He has raised over $1.7 billion through public and private debt and equity markets. In 2011, Mr. Abony received Canada's Ernst & Young Entrepreneur of the Year Award for his founding and leadership of Mood Media Corporation (Mood). Mr. Abony scaled Mood from a pre-revenue startup to the world's largest in-store media company with more than 3,300 employees, offices in 47 countries and over $750 million in annual revenue, before selling the company to a private equity firm. He was also featured on the hit network T.V. series, "Undercover Boss." Mr. Abony is currently chair and board member of several companies in the field of cultivated food, AI, and technology such as VitroLabs Inc., AmyInsights, and Einride A.B.

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 that its cell expansion technology has extraordinary potential across a range of industries. 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.

Media Contacts

Investors: Director of Investor Relations, Aviva Banczewski, [email protected]   

Israel Media: Shachar Yental at [email protected]

U.S. Media: Nathan Miller at [email protected] / Meira Feinman at [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0b707a5d-77fc-4f7f-91d4-e2bb4475d911