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Subsequent Events
6 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 6:- SUBSEQUENT EVENTS

 

On January 5, 2022, the Subsidiary entered into definitive agreements (collectively, the “Agreements”) with Tnuva Food Industries – Agricultural Cooperative in Israel Ltd., through its fully owned subsidiary, Tnuva Food-Tech Incubator (2019), Limited Partnership (“Tnuva”) (together, the “Parties”). Pursuant to the Agreements, the Parties established a new company (“NewCo”) with the purpose of developing cultured meat products of all types and kinds. NewCo will receive exclusive, global, royalty bearing licensing rights to use Pluristem’s proprietary technology, intellectual property and knowhow, to be used in the field of cultured meat. Tnuva will invest $7.5 million in NewCo, according to a pre-money valuation of $40 million, with the option to invest up to an additional $7.5 million over a period of 12 months following the closing.