Full Press Release Details
Cellect Biotechnology Commences Collaboration
with XNK Therapeutics to Advance Novel NK Cell-Based Therapies;
Adds Another Partner for its Functional Cell Selection Technology
Tel Aviv, Israel October 29, 2020 -
Adding to a growing roster of partners, Cellect Biotechnology Ltd. (NASDAQ: "APOP"), announced that it has entered into
and commenced a collaborative development program with Sweden-based XNK Therapeutics, a pioneer in natural killer (NK) cell-based
"This latest agreement demonstrates the
continued progress and operational momentum we are continuing to generate, further validating our strategic vision and potential
revenue opportunities," commented Dr. Shai Yarkoni, Chief Executive Officer. "We join an already prestigious group
of organizations that are currently collaborating with XNK Therapeutics, including the Karolinska Institute and the Royal Institute
of Technology, and we are looking forward to fostering a long-term business and commercial collaboration. We remain focused on
commercializing our functional cell selection technology so patients and markets can benefit from the proven safety profile and
better outcomes of a broad range of cell and gene therapies."
Under the terms of the agreement, Cellect will
help improve XNK Therapeutics' technology platform, for targeting cancer across a wide range of indications. Cellect expects
to expand the business arrangement based on the outcomes of the ongoing studies at XNK Therapeutics. Cellect's functional
cell selection technology has the potential to significantly improve the consistency and manufacturing efficiency in autologous
as well as future allogeneic transplantation
XNK Therapeutics is expected to leverage Cellect's
simple, safe and inexpensive process as part of its efforts to create the next generation version of its innovative therapy platform.
"I am excited that we continue developing the next generation of XNK Therapeutics' technology platform and looking
forward to the collaboration with Cellect" says Johan Liwing CEO of XNK Therapeutics.
About Cellect Biotechnology Ltd.
Cellect Biotechnology (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
The Company's technology is expected to provide
researchers, clinical community 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.
Forward Looking Statements
This 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 Cellect's expectations regarding timing of the commencement of its planned U.S. clinical trial
and its plan to reduce operating costs. 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; the Company's ability to retain or attract
key employees whose knowledge is essential to the development of its products; and the Company's ability to pursue any strategic
transaction or that any transaction, if pursued, will be completed. 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 Cellect Biotechnology Ltd.'s Annual Report on Form 20-F for the fiscal year ended December 31, 2019
filed with the U.S. Securities and Exchange Commission, or SEC, which is available on the SEC's website, www.sec.gov, and in the
Company's periodic filings with the SEC.
Cellect Biotechnology Ltd.
Eyal Leibovitz, Chief Financial Officer