Hebrew University of Jerusalem has spun out NewStem to develop a stem cell-based approach for predicting whether a cancer patient is likely to respond to chemotherapy.
NewStem, an Israel-based precision chemotherapy technology spinout from Hebrew University of Jerusalem (HUJ), raised $4m in a seed round today from a US-listed shell entity called Hollywood Media.
Hollywood Media is to rebrand as NovelStem International following the transaction, which includes an initial $2m sum provided in return for 20% equity interest.
The remaining $2m will take Hollywood Media’s stake to 33% should the entity choose to pursue follow-on contributions of $1m each on 12 and 18-month milestones of the…
