The Quick Take
- Dawson James has a Buy rating and a $9 per share price target on Pluristem.
- Dawson James ranks Pluristem Buy on news of its partnership with Tnuva, a food creation and marketing company.
- Pluristem and Tnuva agreed to develop, manufacture and commercialize cultured meat, reported Dawson James analyst Jason Kolbert in a Dec. 10 research note.
- For this endeavor, Tnuva will invest $7.5 million, the two companies will form and incorporate a new entity valued at $40 and Pluristem will provide the research and development.
The agreement between Pluristem Therapeutics Inc. (PSTI:NASDAQ) and Tnuva concerning the cell-based synthetic protein joint venture indicates the new company will get the licensing rights to Pluristem's proprietary cell technology and intellectual property, reported Dawson James analyst Jason Kolbert.
The new entity will use its own funding and resources, including a dedicated management team and staff, to pursue the goal. Pluristem will do the necessary research and development. As for Tnuva, it may invest up to another $7.5 million during the 12 months after the close of its deal with Pluristem.
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Disclosures for Dawson James Securities Inc., Pluristem Therapeutics Inc., Jan. 4, 2022
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