KFAR SABA, Israel, June 14, 2016 (GLOBE NEWSWIRE) -- Cellect Biomed Ltd. (TASE:CLBD) (“Cellect” or “the Company”), a developer of innovative technology which enables the functional selection of stem cells, announced today that it has received notification from the Tel Aviv Stock Exchange (“TASE”) that it will be included in the TASE Composite Index, the TASE Biomed Index and the TASE BlueTech Index, effective June 15, 2016.
Cellect’s inclusion in the indices is on the basis of it meeting TASE requirements with regards to the Company’s market capitalization and the public float of its ordinary shares. As announced in February 2016, Cellect completed a NIS 8 million private placement led by foreign investors. This transaction resulted in Cellect meeting the aforementioned minimum public float criteria.
Dr. Shai Yarkoni, the Company’s CEO, noted, "We are very pleased to have been selected by TASE for inclusion in the indices. This is an important milestone for Cellect that will broaden the Company’s shareholder base in the immediate term, and also increase its visibility with institutional investors, both at home and abroad, going forward.”
About Cellect
Cellect develops an innovative technology, which enables the functional selection of stem cells based on their sensitivity to apoptosis. This functional-based selection is an international breakthrough in the ability to isolate stem cells from mature cells, thereby improving a variety of stem cells applications.
The Company’s first product line will include unique containers for cell selection in an apoptosis-inducing microenvironment. Cellect has proved in extensive lab studies that the use of apoptosis can largely increase the stem cell concentration in samples taken from bone marrow donors, as well as umbilical cord blood. The first commercial product of the company is a medical kit designed for the cancer treatment bone marrow transplantations market, as well as other markets that require cell selection. The company estimates that in the future its technology will be integrated in many production procedures of stem cell-based product.
Forward-Looking Statements
This press release may contain forward-looking statements, about Cellect's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Cellect or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Cellect with the TASE, press releases or oral statements made by or with the approval of one of Cellect's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Cellect's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Cellect's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Cellect's filings with the TASE. In addition, Cellect operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Cellect does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.