BrainStorm Receives US Notice of Allowance for its Key Stem Cell Technology Patent
NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--BrainStorm Cell Therapeutics (OTC.QB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, today announced that it has received a Notice of Allowance from the U.S. Patent Office for its “Mesenchymal Stem Cells for the Treatment of CNS Diseases” (serial number 12/994,761) patent application.
“Mesenchymal Stem Cells for the Treatment of CNS Diseases”
This patent relates to BrainStorm's proprietary stem cells induced to secrete large quantities of neurotrophic factors for the treatment of neurodegenerative diseases. Pending approval from the FDA, the company is currently preparing for its upcoming multi-center Phase II trial in the U.S. with its proprietary NurOwn™ stem cell therapy, which was developed with these cells.
"Following the recent Notices of Allowance from both the US and European Patent Offices for our production method, this key patent allowance for our unique cells significantly enhances our IP portfolio," commented Mr. Chaim Lebovits, President and Principal Executive Officer of BrainStorm. "It represents a strong vote of confidence in our technology as we pursue our clinical trials program both in Israel and the U.S."
BrainStorm is the exclusive worldwide licensee of this technology from Ramot, the technology transfer company of Tel Aviv University, where it was developed by Professors Daniel Offen and Eldad Melamed, in conjunction with BrainStorm's scientists.
About BrainStorm Cell Therapeutics, Inc.
BrainStorm Cell Therapeutics Inc. is a biotechnology company engaged in the development of first-of-its-kind adult stem cell therapies derived from autologous bone marrow cells for the treatment of neurodegenerative diseases. The Company holds the rights to develop and commercialize its NurOwn technology through an exclusive, worldwide licensing agreement with Ramot, the technology transfer company of Tel Aviv University. For more information, visit the company’s website at www.brainstorm-cell.com.
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. Terms and phrases such as “may”, “should”, “would”, “could”, “will”, “expect”, “likely”, “believe”, “plan”, “estimate”, “predict”, “potential”, and similar terms and phrases are intended to identify these forward-looking statements. The potential risks and uncertainties include, without limitation, 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. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm’s forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management’s beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.