NewStem Ltd., a Jerusalem-based biotech with a novel precision-medicine technology that can increase chemotherapy’s effectiveness, raised $4m in seed financing.
A publicly-traded US-based company to be named NovelStem International Corp. made the investment.
Led by CEO Ayelet Dilion-Mashiah, NewStem has developed technology that can predict patients’ resistance to chemotherapy allowing for targeted cancer treatments and chemotherapy resistance reduction.
The seed funding will support NewStem’s human Haploid Embryonic Stem Cells (hHESCs) technology, developed by Chief Science Officer, Professor Nissim Benvenisty of The Hebrew University of Jerusalem’s Azrieli Center for Stem Cells and Genetic Research. Its genetic screenings of hHESCs are creating a comprehensive library of mutated genes which confer resistance to individual chemotherapeutic agents. Integration of this proprietary database with each patient’s tumor genetic profile will allow for the prediction of resistance to chemotherapy prior to the commencement of treatment.
NewStem is a spinoff of Yissum, The Technology Transfer Company of The Hebrew University.