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NovelStem Reviews Efforts to Maximize Value from Legacy Entertainment Asset
NovelStem Reviews Efforts to Maximize Value from Legacy Entertainment Asset.
About this update from Novelstem International Corp.
[{"type":"text","content":"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.comNovelStem 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 developmen...