NovelStem's Affiliate NewStem Announced New Collaboration to Validate Its Software Diagnostic Device for Two Oncology Indications and Two Therapies
NewStem joins MSK Innovation Hub in collaboration to advance stem cell-based diagnostics that will increase cancer treatment efficacy
Jerusalem, Israel and Boca Raton, Florida--(Newsfile Corp. - December 14, 2022) - NovelStem International Corp. (OTC Pink: NSTM), a biotechnology company focused on the stem cell-based technology platform developed by 31%-owned, Israel-based NewStem Ltd., today announced NewStem's collaboration with the MSK Innovation Hub to further optimize and validate NewStem's bioinformatics-based software as a medical device diagnostic platform. The NewStem Software Diagnostic Device ("NSDD") provides information to oncologists regarding the presence of mutations in a patient's tumor profile which may confer resistance to certain anti-cancer drugs. Armed with NSDD-based intelligence, oncologists can make more informed treatment decisions. The collaboration is focused on triple-negative breast cancer patients and non-small cell lung cancer patients treated with Paclitaxel and/or Carboplatin.
Resistance is the leading cause of relapses in cancer and one of the significant causes of death due to the disease. Drug resistance (whether pre-existing or generated after therapy) is responsible for over 90% of deaths in cancer patients receiving traditional chemotherapeutics or novel targeted drug treatments.
The MSK Innovation Hub brings together innovative, digitally focused companies with Memorial Sloan Kettering Cancer Center's (MSK) community of researchers, clinicians, and digital health professionals through a program designed to establish innovative collaborations that can have a tangible impact on treatment or management of cancer.
"Despite enormous progress over decades, resistance to anti-cancer drugs continues to be a major problem in treating cancer, the second-leading cause of death globally," said Ayelet Dilion-Mashiah, Chief Executive of NewStem Ltd. "We are excited to work with the MSK Innovation Hub in a collaboration that will bring together experts with the deepest expertise and a common goal to improve the lives of people with cancer."
"We believe that impactful clinical innovations can be achieved through collaborative projects that combine deep clinical knowledge with cutting-edge technical capabilities," said Pedram Razavi, MD, PhD, Medical Oncologist and Director of MSK's Liquid Biopsy Technologies and Genomics. "We look forward to collaborating with NewStem through the MSK Innovation Hub to develop new innovations for bringing better treatments to cancer patients."
Jan Loeb, Executive Chairman of NovelStem, added, "This collaboration will allow us to optimize and further validate our software diagnostic device. This important effort builds on our continued work to commercialize our product."
About NewStem newstem.com
NewStem Ltd., a biotechnology spinoff of Yissum, The Hebrew University of Jerusalem's technology-transfer company, has established a bio-platform for genome-wide screenings based on patented Haploid human Embryonic Stem Cells (HhESCs) technology. These cells are superior to other cells used for whole genome screenings and we believe they can improve and/or accelerate the development of biomarker-driven therapeutics and diagnostics. NewStem utilizes its proprietary bio-platform for the discovery and development of precision oncology drugs based on synthetic lethal interaction modality and for diagnostics of anti-cancer drug resistance. NewStem's licensed technology is based on the research of 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 HhESC isolation, differentiation, genetic manipulation, immunogenicity and tumorigenicity. NewStem is the only company using this innovative and exclusive technology to develop innovative practice-changing products.
About NovelStem International Corp. www.novelstem.com
NovelStem owns a 30.99% 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.
Forward-Looking Statements
Statements in this press release and its hyperlinks may be "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements generally are identified by the words "expects," "anticipates," "believes," "intends," "estimates," "should," "would," "strategy," "plan," and similar expressions. All statements other than statements made of historical fact are statements that could be deemed forward-looking statements and are not guarantees of future performance. Such statements speak only as of the date hereof, are subject to change and should not be relied upon for investment purposes. The matters discussed herein that are forward-looking statements are based on current board and management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the success of NewStem's research and future commercialization of its diagnostics utilizing human haploid pluripotent stem cells, competition in the area of genetic diagnostics, the ability to retain key personnel involved in research and development, the ability to secure appropriate regulatory approvals, the ability to fund future investment in NewStem and other risks and uncertainties described in the section entitled "Risk Factors" in NovelStem's Registration Statement on Form 10. Accordingly, NovelStem cannot give assurance that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of NovelStem. Such forward-looking statements speak only as of the date on which they are made and NovelStem undertakes no obligation to revise or update any statements for any reasons.
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NovelStem Investor Relations
Bill Jones and David Collins
Catalyst IR
(212) 924-9800
NSTM@catalyst-ir.com
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