A TEAM of Israeli scientists claim they will likely develop a cure for cancer in the next year, The Jerusalem Post reported on overnight.

The new treatment is being developed by Accelerated Evolution Biotechnologies under the leadership of CEO Dr. Ilan Morad, according to the report.

"We believe we will offer in a year's time a complete cure for cancer," said Dan Aridor, chairman of the company's board.

"Our cancer cure will be effective from day one, will last a duration of a few weeks and will have no or minimal side-effects at a much lower cost than most other treatments on the market."

The treatment, called MuTaTo, will use a combination of cancer-targeting peptides and a toxin that will specifically kill cancer cells.

The treatment will eventually be personalised and a specific cocktail of the drugs will be given to patients based on their type of cancer, Dr Morad told the newspaper.

It sounds too good to be true, especially considering that an estimated 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.

Dr Morad told thePost the company had concluded its first exploratory mice experiment, which inhibited human cancer cell growth and had no effect at all on healthy mice cells, in addition to several in-vitro trials. It was now on the cusp of beginning a round of clinical trials which could be completed within a few years and would then make the treatment available in specific case.

This article originally appeared on the New York Post and is republished here with permission.