On September 20, 2021 NovelStem International Corp. (OTC Pink: NSTM), a biotechnology company focused on the stem cell-based technology platform developed by 30%-owned Israel-based, NewStem, Ltd., reported that NewStem, along with six other genomic companies, was selected by Illumina for its global Illumina Accelerator (Press release, NewStem, SEP 20, 2021, View Source [SID1234590975]). Illumina Accelerator is a company creation engine that focuses on partnering with and building companies with unique genomic technologies. Illumina 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 Illumina Accelerator – NewStem agreement, NewStem is entitled to a match funding for new capital of up to $5.5 million within 18 months.

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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 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. 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, which occur in nearly 50% of all cancer cases.

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."

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."