Ophectra Signs Merger Deal With Meat Bioprinting Company MeaTech
The announcement comes a week after Ophectra announced that its merger deal with cannabis company Hi Pharma fell through
Israeli real estate and holding company Ophectra Real Estate & Investments Ltd. announced on Wednesday a merger memorandum of understanding with MeaTech Ltd., a company developing technology for bioprinting meat using stem cells. Following the merger, MeaTech’s founders will hold 60% of the merged entity, as well as options for an additional 8%. The final agreement is expected to be signed within 45 days following due diligence processes.
The announcement comes a week after Ophectra announced that its merger deal with cannabis company Hi Pharma Ltd. fell through.
Meat (illustration). Photo: Amit Sha'al
MeaTech was incorporated in 2018 and has been operational for almost a year. The company has five employees but expects to recruit another 10 soon, co-founder and CEO Sharon Fima told Calcalist in an interview. The company is hoping to achieve a viable prototype within a year. Merging with Ophectra will offer Meatech more fundraising options, he said. The company recently raised NIS 7 million ($2 million) in a seed investment round.