approves Cellect's grant application

the agreement signed with

South Korean Cell2in

approves Cellect's grant application

Korea-Israel Industrial R&D Foundation (KORIL-RDF) approves grant for the collaboration between Cellect and Cell2in, providing

financing for the joint project

Shai Yarkoni, Cellect CEO commented:

grant approval by KORIL-RDF acknowledges the commercial and scientific potential that may arise from our collaboration with Cell2in.

The grant opens the door for larger collaboration and commercial opportunities."

Aviv, Israel - Dec 17, 2018 - Cellect Biotechnology Ltd. (Nasdaq: APOP), a developer of a novel stem cell production

technology, announced that KORIL-RDF, has approved Cellect's grant application, submitted with Cell2in, a Korean cell therapy

company with whom a collaboration agreement was signed recently.

agreement will potentially enhance and accelerate the development of Cellect's ApoGraft Technology Platform. In addition,

the combination of the two technologies may result in a synergic effect on stem cell expansion, and open new potential applications.

to the agreement, Cellect will use Cell2in proprietary FreSHtracer technology for the functional identification of stem cells.

Both companies will collaborate on a proof-of-concept of combining technologies in order to significantly improve stem cells selection

process. Upon potentially successful results, both companies plan to broaden their collaboration to provide a combined solution

that will benefit multiple stem cell therapy products covering a wide range of diseases.

Cellect is aiming to show more efficient quantification, as compared to current industry standards of mesenchymal stem cells (MSCs)

and hematopoietic stem cells (HSCs), and validation through quantification that Fas Ligand (FasL), Cellect's main active

ingredient, accelerates MSC expansion relative to processes currently used in approved products as well as products in clinical

Cellect advances its clinical program towards the commercialization of its products, it becomes more important to continuously

seek ways to use Cellect's technology with other products in order to maintain its leadership position for enabling cell

therapy. The grant is to be finalized pending proposed budget review and signatures.

Cellect Biotechnology Ltd.

Biotechnology (NASDAQ: APOP) has developed a breakthrough technology for the selection of stem cells from any given tissue that

aims to improve a variety of stem cell-based therapies.

Company's technology is expected to provide research, hospitals and pharma companies with the tools to rapidly isolate stem

cells in quantity and quality allowing stem cell-based treatments and procedures in a wide variety of applications in regenerative

medicine. The Company's current clinical trial is aimed at bone marrow transplantations in cancer treatment.

press release contains forward-looking statements about the Company's expectations, beliefs and intentions. Forward-looking

statements can be identified by the use of forward-looking words such as "believe", "expect", "intend",

"plan", "may", "should", "could", "might", "seek", "target",

"will", "project", "forecast", "continue" or "anticipate" or their

negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to

historical matters. For example, forward-looking statements are used in this press release when we discuss the Company's

belief regarding the results of any future collaboration with Cell2in. These forward-looking statements and their implications

are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties

that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical

results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar

conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking

statements: the Company's history of losses and needs for additional capital to fund its operations and its inability to

obtain additional capital on acceptable terms, or at all; the Company's ability to continue as a going concern; uncertainties

of cash flows and inability to meet working capital needs; the Company's ability to obtain regulatory approvals; the Company's

ability to obtain favorable pre-clinical and clinical trial results; the Company's technology may not be validated and its

methods may not be accepted by the scientific community; difficulties enrolling patients in the Company's clinical trials;

the ability to timely source adequate supply of FasL; risks resulting from unforeseen side effects; the Company's ability

to establish and maintain strategic partnerships and other corporate collaborations; the scope of protection the Company is able

to establish and maintain for intellectual property rights and its ability to operate its business without infringing the intellectual

property rights of others; competitive companies, technologies and the Company's industry; unforeseen scientific difficulties

may develop with the Company's technology; and the Company's ability to retain or attract key employees whose knowledge

is essential to the development of its products.. Any forward-looking statement in this press release speaks only as of the date

of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether

as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors"

in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2017 filed with the U.S. Securities and

Exchange Commission ("SEC"), which is available on the SEC's website, http://www.sec.gov, and in the Company's

periodic filings with the SEC.

Leibovitz, Chief Financial Officer