Israeli stem cell company Accelta, founded at the AMIT institute in the Technion Israel Institute of Technology, has announced that it has signed an exclusive agreement with international company Stemcell Technologies, which will market Accelta's culturing, on which stem cells can be grown. Particulars of the deal were not disclosed. AMIT was founded by billionaire Alfred Mann.
According to information from IVC, Accelta has completed a seed round in which an unknown amount was raised. In addition to AMIT, participants included Li Ka Shing's Horizon Ventures fund and Rambam Hospital.
Accelta states in its announcement that its products make it possible to grow stem cells without using feeders, animal products, or other adhesive surfaces. According to the company, this difference significantly lowers the cost of growing stem cells. This approach has been experimentally supported in a number of stem cell lines, including human stem cells.
The stem cells field has not yet been developed at the commercial level. There are currently only a few stem cell-based drugs, which have not been approved for use everywhere in the world, and which are designed to treat diseases with relatively limited market potential. Stem cells are nevertheless a giant industry at the research level, however, at both research institutions and pharmaceutical companies.
Following the deal, Accelta chairman and CEO Itzchak Angel said, "Stemcell Technologies is a leading company at the global level in solutions for stem cell cultures, and we believe that this partnership will maximize the global accessibility of our solutions."
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2015
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