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An Israeli biotech company and food giant Tnuva rang the bell at NASDAQ March 28, celebrating their partnership to produce lab-grown meat.
Pluristem Therapeutics and Tnuva joined the race to create meat products from animal cells, using technology they say is more sustainable than natural methods and hoping to meet the demand for cruelty-free alternatives.
Tnuva is investing $7.5 million in the partnership, called NewCo, with an option to invest up to an additional $7.5 million over a year-long period.
Pluristem CEO Yaky Yanay called the initial product “cultured meat” and said it is grown from real meat cells, tissue, fat and muscle. “We’re not talking about a substitute,” Yanay told the New York Jewish Week. “We will be able to provide a product that will be healthy and eventually affordable.”
