NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--Brainstorm Cell Therapeutics Inc. (OTCBB:BCLI), a leading developer of adult stem cell technologies and therapeutics, announced today that world renowned ALS medical expert, Dr. Robert H. Brown, Jr., MD, PhD from Harvard Medical School and Massachusetts General Hospital (MGH), has joined the Company’s Scientific Advisory Board (SAB) to assist in preparations for ALS clinical trials.
Brainstorm Cell Therapeutics is dedicated to the research and development of innovative adult stem-cell based therapeutic treatments for ALS and Parkinson’s diseases, based on cells secreting Neurotrophic Factors. The Company aims to receive approval to begin clinical trials in Israel in 2009. In the last months, Dr. Brown visited BrainStorm’s offices, Laboratories and the Animal research facility, and after punctilious due diligence decided to join the company.
Dr. Robert H. Brown, Jr., a Professor of Neurology at Harvard Medical School and a neurologist at MGH, is recognized for his pioneering work on the genetics of the motor neuron disease amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease. In 1993, Brown and his associates were the first to identify a gene that causes familial ALS cases, and which has been the basis for the development of the most widely studied animal model of ALS. Dr. Brown has subsequently investigated other genetic variants that cause ALS and strategies for ALS therapy.
In 1983, Dr. Brown founded the Cecil B. Day Laboratory for Neuromuscular Research at Massachusetts General Hospital, an internationally renowned center for research and advancement of clinical care in this field. Dr. Brown’s research has been published in the most distinguished scientific journals, including Science and Nature. His work has garnered many accolades, including his acceptance into the Institute of Medicine and the American Neurological Association. In 2007, Brown received the Robert Wartenberg Lecture Award from the American Academy of Neurology for excellence in clinically relevant research. In fall 2008, he will move his laboratories to the University of Massachusetts Medical School where he will become the Chair of Neurology.
Chaim Lebovits, Brainstorm’s President commented, “We have the honor to welcome ALS expert Dr. Brown to Brainstorm. Dr. Brown will add to the Company’s expertise with his 30 years of professional experience in ALS research and care. Dr. Brown’s passion for treating ALS patients and his drive to improve their lives and prognosis, coupled with his academic and clinical brilliance and experience will be critically valuable as, with G-d's help, Brainstorm moves forward towards clinical trials.”
Dr. Brown added: “I am delighted to be able to help Brainstorm Cell Therapeutics develop protocols for testing its lead products as ALS therapies. It will be a pleasure to work closely with the outstanding scientists and clinicians at Brainstorm.”
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 NurOwn(TM) patent pending technology is based on discoveries made by the scientific team led by prominent neurologist Professor Eldad Melamed, Head of Neurology at Rabin Medical Center, and expert cell biologist Dr. 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 initial focus is on Parkinson ALS and Spinal Cord Injury, although its technology has promise for treating several others 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, including BrainStorm's ability to complete its equity financing transactions previously disclosed. The potential risks and uncertainties include, among others, risks associated with BrainStorm Cell Therapeutics Inc.'s limited operating history, history of losses and expectation to incur losses for the foreseeable future; dependence on its license to Ramot's technology; ability, together with its licensor, to adequately protect the NurOwn(tm) technology; dependence on key executives and on its scientific consultants; ability to identify, negotiate and successfully implement strategic partnering relationships; ability to complete clinical trials successfully and to obtain required regulatory approvals; competition with companies, some of which have greater resources and experience in developing and obtaining regulatory approval for treatments in BrainStorm Cell Therapeutics Inc.'s market; the limited public trading market for BrainStorm Cell Therapeutics Inc.'s stock which may never develop into an active market; and other factors detailed in BrainStorm Cell Therapeutics Inc.'s annual report on Form 10-KSB, quarterly reports on Form 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission available at http://www.sec.gov/ or by request to the Company. The Company does not undertake any obligation to update forward-looking statements made by us.