Benzinga | May 25, 2021 07:12AM EDT

Pluristem To Receive 20M Non-Dilutive Funding From The European Investment Bank

Pluristem Therapeutics Inc. (NASDAQ:PSTI) (TASE:PSTI) (the "Company"), a leading biotechnology company, today announced the receipt of a "Disbursement Offer" in the amount of (euro)20 million (approximately $24 million) from the European Investment Bank (EIB). This disbursement -- the first of three tranches of funding -- reflects that Pluristem has achieved a key milestone in a previously announced (euro)50 million non-dilutive financing agreement. Pursuant to the EIB agreement, Pluristem expects to receive the first tranche of funds during June 2021.