Israeli Minister of Science and Technology Visits Brainstorm
New York and Petach Tikvah, Israel – January 12, 2010 - BrainStorm Cell Therapeutics Inc.(OTCBB: BCLI), a leading developer of adult stem cell technologies and therapeutics, is pleased to announce that it received a visit yesterday by the Israeli Minister of Science and Technology, Professor Daniel Hershkowitz. The purpose of the visit was to review BrainStorm’s progress towards the start of its first clinical trials in ALS. Professor Hershkowitz met with BrainStorm’s management and scientific team during his visit and received a detailed presentation of the Company’s science from Professor Eldad Melamed, BrainStorm’s Chief Medical Advisor and Professor Daniel Offen, BrainStorm’s Chief Scientist.
“We are extremely pleased with the visit by Professor Hershkowitz,” stated Rami Efrati, CEO of BrainStorm. “This is the first visit by Israeli Ministry of Science and Technology and we look forward to building a strong and lasting relationship with them. The visit by Professor Hershkowitz signals the importance of the work we are doing at BrainStorm, as we prepare to begin our clinical trials in ALS this year.”
About BrainStorm Cell Therapeutics, Inc.
BrainStorm Cell Therapeutics Inc. is an emerging company developing adult stem cell therapeutic products, derived from autologous (self) bone marrow cells, for the treatment of neurodegenerative diseases. The patent pending technology is based on discoveries made by the scientific team led by Professor Eldad Melamed, former Head of Neurology at Rabin Medical Center, and cell biologist Prof. Daniel Offen, Head of the Neuroscience Laboratory at the Felsenstein Medical Research Center of Tel-Aviv University. The technology allows for the differentiation of bone marrow-derived stem cells into functional neurons and astrocytes, as demonstrated in animal models. The Company holds rights to develop and commercialize the technology through an exclusive, worldwide licensing agreement with Ramot at Tel Aviv University Ltd., the technology transfer company of Tel-Aviv University. The Company's current focus is on ALS, although its technology has promise for treating several other diseases including MS, Huntington's disease and stroke.
Safe Harbor Statement
Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include risks associated with BrainStorm's limited operating history, history of losses; minimal working capital, dependence on its license to Ramot's technology; ability to adequately protect the technology; dependence on key executives and on its scientific consultants; ability to obtain required regulatory approvals; and other factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. The Company does not undertake any obligation to update forward-looking statements made by us.
BrainStorm Cell Therapeutics
Rami Efrati, CEO, +972-3-9236384
efrati@brainstorm-cell.com
To view the article published in Hebrew on the Ministry of Science & Technology Website please click here.
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