Professor Avi Israeli Joins BrainStorm as Chairman of the Board of Directors
New York and Petach Tikvah, Israel – April 14, 2010 - BrainStorm Cell Therapeutics Inc. (OTCBB: BCLI), a leading developer of adult stem cell technologies and therapeutics is pleased to announce that Professor Avi Israeli is joining the company as Chairman of the Board of Directors. Professor Israeli, is a Medical Doctor specializing in Internal Medicine and in Health Care Management. He has previously served as the Director General of the Israeli Ministry of Health, as well as the Director General of The Hadassah Medical Organization. He currently heads the Department of Health Policy, Health Care Administration and Health Economics at Hebrew University and Hadassah Medical School and the School of Public Health.
“I am pleased to be joining BrainStorm’s Board of Directors,” stated Professor Israeli. “The work BrainStorm is performing in the field of stem cell therapy is extremely important and I believe in the Company’s direction and its management team. I look forward to providing my assistance, experience and knowledge in working with the Company to provide a breakthrough treatment for people suffering from ALS and other neurodegenerative diseases.”
“We are extremely pleased that Professor Israeli is joining our Board of Directors,” stated Rami Efrati, CEO of BrainStorm. “I would like to welcome Professor Israeli to the BrainStorm family. Professor Israeli’s vast experience will be a tremendous asset to the company as we prepare to begin our ALS clinical trials at Hadassah Medical Center. We look forward to working closely with him.”
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
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