CELLECT BIOTECHNOLOGY LTD. PRICES $3M

BIOTECHNOLOGY LTD. PRICES

$3M REGISTERED DIRECT OFFERING OF AMERICAN DEPOSITARY SHARES

AVIV, Israel, Jan. 8, 2020 / -- Cellect Biotechnology Ltd. (Nasdaq: APOP) ("Cellect"

or the "Company"), a developer of innovative technology which enables

the functional selection of stem cells, today announced it has entered into a securities purchase agreement with institutional

investors for the purchase and sale of 1,000,000 American Depositary Shares ("ADSs"),

each representing 100 of the Company's ordinary shares, at an offering price of $3.00 per ADS, pursuant to a registered

direct offering. The gross proceeds of the offering will be approximately $3,000,000 before deducting fees and other estimated

offering expenses. The closing of the registered direct offering is expected to take place on or about January 10, 2020, subject

to the satisfaction of customary closing conditions.

Global Partners is acting as sole placement agent for the offering.

was made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-219614)

previously filed with the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute

an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction

in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of

any such state or jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by Cellect with the

SEC. When available, copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at

the SEC's website at www.sec.gov or from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, New York 10022

or by email at prospectus@allianceg.com.

Cellect Biotechnology

Biotechnology (APOP) has developed a breakthrough technology, for the selection of stem cells from any given tissue, which aims

to improve a variety of stem cell-based therapies.

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 focuses on bone marrow transplantations in cancer treatment.

Forward-Looking Statements

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 our expectation regarding the closing of the offering.

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: changes in technology and market requirements;

we may encounter delays or obstacles in launching and/or successfully completing our clinical trials; our products may not be

approved by regulatory agencies, our technology may not be validated as we progress further and our methods may not be accepted

by the scientific community; we may be unable to retain or attract key employees whose knowledge is essential to the development

of our products; unforeseen scientific difficulties may develop with our process; our products may wind up being more expensive

than we anticipate; results in the laboratory may not translate to equally good results in real clinical settings; results of

preclinical studies may not correlate with the results of human clinical trials; our patents may not be sufficient; our products

may harm recipients; changes in legislation; inability to timely develop and introduce new technologies, products and applications,

which could cause the actual results or performance of the Company to differ materially from those contemplated in such forward-looking

statements. 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, 2018 filed with the U.S. Securities and Exchange Commission,

or SEC, which is available on the SEC's website, http://www.sec.gov. and in the Company's period filings with the SEC.

Eyal Leibovitz, Chief Financial Officer