Cell Source is a pre-revenue, clinical-stage cell therapy company built around its proprietary Veto Cell technology — an immunotherapy platform designed to prevent the immune system from rejecting transplanted donor cells without requiring aggressive immune suppression. The core application is haploidentical hematopoietic stem cell transplantation (HSCT, or bone marrow transplantation) for blood cancer patients. Veto Cells act as decoys, attracting and destroying the immune cells that would otherwise reject donor stem cells, enabling engraftment under a milder conditioning regimen while also fighting post-transplant viral infections. The lead program is a Phase 1/2 clinical trial at MD Anderson Cancer Center, treating blood cancer patients with haploidentical HSCT combined with Anti-Viral Veto Cells. The flagship commercial product is VETO CAR-T, which pairs Veto Cells with CAR-T therapy to enable mismatched donor transplants while providing near-term cancer-killing capability. Longer-term pipeline applications include off-the-shelf allogeneic CAR-T (without HSCT), kidney and liver transplantation, and non-malignant blood disorders like sickle cell disease. Cell Source licenses its core patents from Yeda, to whom it owes a 4% royalty on future product sales. The company has no revenue and relies entirely on external financing, estimating it needs at least $50M more to reach commercialization. Cell Source views acquisition by a larger pharma player — as occurred with Kite Pharma and Juno Therapeutics — as a realistic outcome.