The new treatment is being developed by Accelerated Evolution Biotechnologies under the leadership of CEO Dr. Ilan Morad, according to the Jerusalem Post.
The treatment is called MuTaTo, which stands for multi-target toxin, and is created to act as a cancer antibiotic.
In contrast, the lab says MuTaTo uses a combination of several cancer-targeting peptides for each cancer cell at the same time, combined with a strong peptide toxin that would kill only cancer cells.
"If it does not completely annihilate the cancer, the remaining cells can start to get mutations again, and then the cancer comes back, but this time it is drug resistant", Morad told the news outlet.
More than 18.1 million new cancer cases are diagnosed worldwide each year, according to reports by the International Agency for Research on Cancer, with every sixth death due to cancer.
"The probability of having multiple mutations that would modify all targeted receptors simultaneously decreases dramatically with the number of targets used", he continued.
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The Post further reports that AEBi, which has carried out successful trials in mice, is now writing patents for a broad array of peptides (and presumably peptide fragments) that will enable them to have an arsenal of anti-cancer tools to personalize for individual patients. "Our solution will be both generic and personal".
Morad added that MuTaTo also targets cancer stem cells, therefore eliminating recurrences.
Morad said MuTaTo is also strong enough to both destroy stem cells and penetrate where other drugs can not reach. Mutations in the cancer cells make the anti-cancer drugs ineffective.
"We believe we will offer in a year's time a complete cure for cancer", said Dan Aridor, chairman of the company's board.
Aridor says the team's treatment, which they have dubbed MuTaTo, is essentially a cancer antibiotic with an approach similar to the treatment given to AIDS patients.
Cancer is an abnormal growth of cells.
The treatment, which has not been tested in humans yet, has shown success in mice trials and is nearing the stage of clinical trial, Aridor said.