To fund efforts to maximize the value of Netco Partners, NovelStem has secured non-recourse litigation funding from Omni Bridgeway Limited...
Boca Raton, Florida--(Newsfile Corp. - February 15, 2022) - NovelStem International Corp. (OTC Pink: NSTM), a biotechnology company focused on the stem cell-based technology platform developed by 30%-owned, Israel-based NewStem, Ltd., today reviewed progress regarding ongoing efforts to maximize shareholder value from its legacy 50% ownership in Netco Partners, which owns the Net Force publishing and entertainment franchise.
NovelStem Chairman, Jan Loeb, commented, “We have initiated an arbitration proceeding against our 50% partner in Netco Partners, in an effort to maximize the total potential value to be derived from fully utilizing the Netco Partners intellectual property across publishing, entertainment, digital media, merchandising and other ancillary markets. Arbitration proceedings for the joint owners of Netco Partners are scheduled for this summer.”
To fund efforts to maximize the value of Netco Partners, NovelStem has secured non-recourse litigation funding from Omni Bridgeway Limited, a global leader in litigation and dispute resolution investments. Pryor Cashman LLP is NovelStem’s legal representative.
Mr. Loeb, added, “The Netco Partners intellectual property franchise has generated over $12M in payments for our 50% ownership interest since its inception, and we believe it offers substantial additional potential across a range of entertainment and digital outlets. We are eager to forge a mutually beneficial path forward for Netco Partners, one that will fully capitalize on the potential of the Net Force franchise across a broader array of opportunities. With the support of Omni Bridgeway, we are able to pursue this potential without taking away from the value creation strategy for our NewStem Ltd. investment. We look to provide an investor update on NewStem’s progress in the coming months.”
About NovelStem International Corp. www.novelstem.com
NovelStem owns an approximate 30% stake in NewStem Ltd. which is advancing its novel stem-cell-based diagnostic technology for predicting patients’ resistance to cancer therapies, allowing for better, targeted cancer treatments with the potential to reduce incidents of drug resistance. The technology is also being used for genetic research related to other medical therapies.
About NewStem Ltd.
NewStem Ltd. is advancing novel stem-cell-based technology utilized for the development of new therapeutics and diagnostics. The most advanced product of NewStem is a diagnostic predicting patients’ resistance to cancer therapy, allowing for better, targeted personal-oncology treatments with the potential to reduce incidents of anti-cancer drug resistance. NewStem is a spinoff of Yissum, The Hebrew University of Jerusalem’s technology-transfer company. NewStem’s solutions are based on the research of human haploid pluripotent stem cells (hHPSCs) by Professor Nissim Benvenisty, Director of the Azrieli Center for Stem Cells and Genetic Research at the Hebrew University. NewStem holds the intellectual property, reagents and experience required for hHPSC isolation, differentiation, genetic manipulation, immunogenicity and tumorigenicity.
Forward-Looking Statements
Statements in this press release and its hyperlinks may be “forward-looking statements” within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current board and management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the success of NewStem’s research and future commercialization of its diagnostics utilizing human haploid pluripotent stem cells, competition in the area of genetic diagnostics, the ability to retain key personnel involved in research and development, the ability to secure appropriate regulatory approvals, and the ability to fund future investment in NewStem. Such forward-looking statements speak only as of the date on which they are made.
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NovelStem Investor Relations
Bill Jones and David Collins
Catalyst IR
(212) 924-9800
NSTM@catalyst-ir.com
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