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", Aridor said.
The treatment, called MuTaTo, will use a combination of cancer-targeting peptides and a toxin that will specifically kill cancer cells.
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.
Past year there were 9.6million deaths from cancer worldwide, according to charity Cancer Research UK.
The company, however, has only tested the treatment in mice so far and it can take six to seven years to bring cancer drugs from "mouse to market", even when drugmakers receive special permissions from US regulators to speed drug development, Les Funtleyder, health-care portfolio manager at E Squared Capital Management, told CNBC.
"Our solution will be both generic and personal", Aridor stated.
"The probability of having multiple mutations that would modify all targeted receptors simultaneously decreases dramatically with the number of targets used", he continued.
The doctor went on to explain that other drugs have failed because they don't destroy cancer stem cells, adding: "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".
The Israeli researchers say they can attach a toxin to only cancer cells and kill them, no matter the cancer, with no side effects. The company now plans to move forward with clinical trials and make the treatment available within a few years.
"However, as experience has taught us so many times, the gap from a successful mouse experiment to effective, beneficial application of exciting laboratory concepts to helping cancer patients at the bedside is in fact a long and treacherous journey, filled with unforeseen and unanticipated obstacles".