NewStem, along with six other genomic companies, was selected by Illumina for its global Illumina Accelerator. NewStem Ltd main investor, NovelStem International Corp. m (OTC Pink: NSTM), a Florida-based biotechnology company, recently increased their share in NewStem to 33%.
llumina Accelerator is a company creation engine that focuses on partnering with and building companies with unique genomic technologies. llumina Accelerator provides selected companies with access to seed investment, access to Illumina sequencing systems and reagents, as well as business guidance, genomics expertise, and fully operational lab space. Under the llumina Accelerator – NewStem agreement, NewStem is entitled to a match funding for the new capital of up to $5.5 million within 18 months.
NewStem’s novel diagnostic technology can predict patients’ resistance to chemotherapy allowing for better, targeted cancer treatments and the potential to reduce resistance to chemotherapy. Drug resistance is a major cause of treatment failure in cancer chemotherapy, and currently, it is only recognized after the first course of treatment has been completed. In nearly 50% of all cancer cases, resistance to chemotherapy already exists in the tumors before initiation of the treatment and this can be detected for the first time with NewStem‘s diagnostic technology.
NewStem has developed a novel stem-cell-based technology platform for the development of therapeutics and diagnostics. Using this technology, NewStem has identified and completed the analysis of resistance to the most frequently prescribed standard-of-care cancer treatments. NewStem is a spinoff of Yissum, The Hebrew University of Jerusalem’s technology-transfer company. NewStem holds intellectual property rights related to stem cells, including genome-wide screening methodologies, and its main patents were granted in United States, Europe, Japan, and Israel and are in the national phase in additional countries.
NewStem‘s diagnostic technology is based on the research of specialized stem cells that carry just one set of chromosomes (haploid cells) by Professor Nissim Benvenisty, Director of the Azrieli Center for Stem Cells and Genetic Research at the Hebrew University. His research focuses on stem cell biology, tissue engineering, human genetics, and cancer research. He is a member of the steering committee of the International Stem Cell Initiative and the Board of Directors of the International Society for Stem Cell Research. Prof. Benvenisty has been awarded the Foulkes Prize (London), the Hestrin Prize, the Teva Prize, and the Kaye Prize. He earned his M.D. and Ph.D. degrees from the Hebrew University and conducted postdoctoral studies at Harvard University.
NewStem‘s most advanced solution is a diagnostic and database that enables NewStem to predict patients’ resistance to certain anti-cancer therapies, allowing for better, targeted personal-oncology treatments with the potential to reduce incidents of anti-cancer drug resistance. NewStem’s diagnostic solutions are based on the research by Professor Nissim Benvenisty of specialized stem cells that carry just one set of chromosomes, called Haploid cells. Haploid cells are human cells containing only one set of chromosomes. Most cells in our body are diploid, containing two sets of chromosomes, one inherited from the mother and the other from the father. The only exceptions are haploid egg and sperm; however, these cells cannot divide to make more of their own. Recently, haploid human pluripotent stem cells were derived, and these cells can divide and differentiate to all cell types while remaining haploid. These unique cells “provide novel means for studying human functional genomics” (Nature, 2016), and their genetic manipulation “constructed an atlas of essential and growth-restricting genes in human pluripotent stem cells” (Nature Cell Biology, 2018). NewStem technology has the potential to significantly reduce ineffective treatments, thereby improving patient outcomes while also potentially providing hundreds of millions of dollars in savings from unnecessary treatment costs.
NewStem has validated the performance of its screening results in conjunction with retrospective genetic and clinical data of patients previously treated with anti-cancer drugs. The testing for the chosen drug and indications is now being finalized, which will be followed by the regulatory clearance process, including submitting the results to the FDA in the first half of 2021. According to NewStem’s regulatory strategy approach, the regulatory review process is expected to take several months, following which an anticipated product launch could take place by the second half of 2021.
NewStem CEO, Ayelet Dilion-Mashiah, commented, “We are very excited to be selected by Illumina, the global leader in DNA sequencing and array-based technologies, for this program. In addition to potential capital and professional support, we believe selection to the Illumina Accelerator further validates the significant potential of NewStem‘s therapeutic and diagnostic development technology and will assist us in bringing our first products to market and potentially advancing additional commercial solutions.”
Ms. Dilion-Mashiah has served in executive leadership roles in the Life Sciences and Pharmaceutical industries for the past 19 years. Prior to joining NewStem in 2016, she served as CEO of BioMAS from 2011 to 2016. She previously served as CEO of Do-Coop Technologies from 2007 to 2011 after four years as Director – Corporate Economic Development at Teva Pharmaceuticals Industries.
Amanda Cashin, PhD, co-Founder and Global Head of Illumina For Startups said, “The global reach of Illumina Accelerator is demonstrated by our investment in these seven diverse startups from six countries. This diversity is testament to the strength and breadth of the talented entrepreneurs around the world focused on unlocking the power of the genome to improve human health and beyond.”
About NewStem Ltd.
NewStem Ltd. is advancing novel stem-cell-based technology utilized for the development of new therapeutics and diagnostics. The most advanced product of NewStem is a diagnostic predicting patients’ resistance to cancer therapy, allowing for better, targeted personal-oncology treatments with the potential to reduce incidents of anti-cancer drug resistance. NewStem is a spinoff of Yissum, The Hebrew University of Jerusalem’s technology-transfer company. NewStem‘s solutions are based on the research of human haploid pluripotent stem cells (hHPSCs) by Professor Nissim Benvenisty, Director of the Azrieli Center for Stem Cells and Genetic Research at the Hebrew University. NewStem holds the intellectual property, reagents, and experience required for hHPSC isolation, differentiation, genetic manipulation, immunogenicity, and tumorigenicity, as well as genome-wide screening methodologies.
About NovelStem International Corp.
NovelStem (OTC Pink: NSTM), owns an approximate 33% stake in NewStem Ltd. which is advancing its novel stem-cell-based diagnostic technology for predicting patients’ resistance to cancer therapies, allowing for better, targeted cancer treatments with the potential to reduce incidents of drug resistance. The technology is also being used for genetic research related to other medical therapies. Based on a share purchase agreement from 2018, NovelStem has invested $4M in NewStem and also owns a 50% stake in Netco Partners. NovelStem was formerly known as Hollywood Media Corp but changed its name with its shift from a media business to stem cell-based diagnostics for cancer chemotherapies. NovelStem is headquartered in Boca Raton, Florida.
NovelStem Investor Relations
Bill Jones or David Collins
Catalyst IR, (212) 924-9800 NSTM@catalyst-ir.com
Source: News File Corp September 20, 2021)https://www.newsfilecorp.com/release/96838/NovelStem-Announces-NewStem-Ltd.-Was-Selected-by-Illumina-for-its-Global-Illumina-Accelerator
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