Cellect Raises $2M For Stem Cell Therapy

February 17, 2016 | Israeli biotech startup Cellect Biotechnology has raised 8 million shekels ($2.05 million) from a group of Israeli and foreign investors. Founded in 2011 and led by CEO Shai Yarkoni, Cellect has developed a method for higher selectivity of stem cells that was recently approved for preliminary clinical trials at Schneider Medical Center in Petah Tikva. “The capital we’ve raised will enable the company to advance its clinical and business plan, including registration of its shares in the Nasdaq in the United States,” said CFO Ronen Twito in a statement. The company, whose shares are already traded on the Tel Aviv Stock Exchange, envisions its products becoming an integral and essential part of Bone Marrow Transplantation (BMT), as well as integrated into many aspects of regenerative medicine.