VBLT - Vascular Biogenics stock dips amid sale of manufacturing facility to Aleph Farms

Aleph Farms said it has acquired a manufacturing facility in Modi'in, Israel, and certain related assets from VBL Therapeutics ( NASDAQ: VBLT ).

Last week, Israel-based Vascular Biogenics ( VBLT ), which operates as VBL Therapeutics, announced an all-stock merger with Notable Labs. The combined company will operate as Notable Labs under the ticker NTBL and will focus on Notable's Predictive Precision Medicines Platform with a pipeline targeted at cancer.

Aleph — which grows cultivated steaks from cells isolated from a living cow — added that it has signed a memorandum of understanding (MOU) with contract manufacturing organization ESCO Aster to produce cultivated meat in Singapore.

Aleph noted that existing assets from VBL will be paired with a technology transfer from its pilot production facility in Rehovot, Israel, to increase local output for rising demand for quality protein.

"Israel and Singapore are the first two markets where we intend to launch our cultivated thin-cut steak," said Aleph Co-Founder and CEO Didier Toubia. "Beyond Israel and Singapore, we plan on building additional strategic assets worldwide as part of our effort to bring more security and resilience to food systems."

VBLT -8.81% to $0.14 premarket March 1.

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