Pluri (PLUR) said Wednesday that it signed an exclusive collaboration deal with Hemafund, an umbilical cord blood bank, for the distribution and clinical advancement of PLX-R18 cell therapy as a potential treatment for Hematopoietic Acute Radiation Syndrome in Ukraine.

Pluri said it has agreed to produce and supply PLX-R18 and will work with Hemafund to seek funding for the production of an initial 12,000 doses of PLX-R18 to be stored and managed by Hemafund.

The companies plan to sign a separate definitive agreement once the external funding is secured. The collaboration could fetch over $100 million in value for the companies based on the estimated cost and the expected initial stockpile, Pluri said.

The three-year agreement can be extended for three more years, the company said.

Shares of Pluri were up 8.8% in recent Wednesday trading.

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