N2OFF (NASDAQ: NITO) (FSE:80W), a Neve Yarak, Israel-based clean tech company engaged in sustainable solutions for solar energy, energy battery storage and innovation for agri- tech, acquired MitoCareX, a Ness Ziona, Israel-based biotech company focused on drug discovery targeting cancer therapeutics.
With the acquisition, N2OFF will expand its offerings.
MitoCareX is focusing on the development of novel therapies for hard-to-treat cancers by targeting proteins belonging to the mitochondrial SLC25 protein family. Its drug discovery activities rely on the ability to generate reliable 3D comparative modeling for its proteins of interest, which further allows the potential identification of anti-cancer small molecule therapeutics. Furthermore, by leveraging its advanced in-vitro screening systems related to mitochondria, it corroborates the anti-cancer biological activity of small molecules discovered through its computational platform.
N2OFF is an agri-food tech company dedicated to developing sustainable solutions for the plant-based food industry. Operating through two subsidiaries, it delivers integrated solutions for enhanced safety, quality, and sustainability “from field to fork.” NTWO OFF Ltd., N2OFF’s majority-owned Israeli subsidiary, aims to tackle greenhouse gas emissions, offering a pioneering solution to mitigate nitrous oxide (N2O) emissions, a potent greenhouse gas with 310 times the global warming impact of carbon dioxide. NTWO OFF Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. N2OFF recently entered the solar PV market and will provide funding to Solterra Renewable Energy Ltd. for a current project with total Capacity of 111 MWp, as well as potential future projects. Save Foods Ltd., N2OFF’s majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination.
FinSMEs
26/02/2025