An Israeli biotech company said preliminary research on mice gives it hope of developing a cancer cure "within a year's time" — but it still has years of testing ahead of it before it could get U.S. approval — even if it works for humans.

Accelerated Evolution Biotechnologies (AEBi) told the Jerusalem Post it used peptides, which are a chain of amino acids, to target and kill cancer cells in mice.

"We believe we will offer in a year's time a complete cure for cancer," the company's chairman of the board of directors, Dan Aridor, told the Jerusalem Post in an article published Monday.

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 U.S. regulators to speed drug development, Les Funtleyder, health-care portfolio manager at E Squared Capital Management, told CNBC.