Pluri Gets $4.2M Contract To Advance Development Of Treatment For Radiation Syndrome

Pluri Inc. PLUR has signed a three-year, $4.2 million contract with the U.S. National Institute of Allergy and Infectious Diseases.

The National Institute of Allergy and Infectious Diseases is a unit operating under the state-run National Institutes of Health (NIH).

Under the deal, Pluri will collaborate with the U.S. Department of Defense's Armed Forces Radiobiology Research Institute (AFRRI) to advance the development of its PLX-R18 cell therapy.

PLX-R18 cell therapy will be used as a potential novel treatment for Hematopoietic Acute Radiation Syndrome (H-ARS). H-ARS is a deadly disease resulting from nuclear disasters and radiation exposure.

"The current time calls for us to accelerate the development and accessibility of radiation treatments, especially as geopolitical instability rises, and nuclear power plants face the threat of warfare," said Pluri CEO and President Yaky Yanay.

Robust human and animal data support PLX-R18's potential as a medical countermeasure for H-ARS.

This contract supports Pluri's goal to achieve marketing approval for PLX-R18 with the U.S. Food and Drug Administration (FDA).

The FDA previously cleared an Investigational New Drug (IND) application for PLX-R18 to treat ARS in the case of nuclear events and granted it the "Orphan Drug Designation."

PLX-R18 is developed to be eligible for purchase by the U.S. Strategic National Stockpile as a medical countermeasure for exposure to nuclear radiation following FDA approval.

Price Action: PLUR shares are trading higher by 7.6% to $0.7442 in the premarket session on the last check Tuesday.