NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI), a leading developer of adult stem cell technologies and therapeutics, announced today that Andrew Card, former White House Chief of Staff, has been appointed to the company's Business Advisory Board.
“We are delighted that Andy has agreed to work with our company and welcome him to our Business Advisory Board,” said Chaim Lebovits, President of BrainStorm. “He is a very talented individual who will bring great knowledge and experience to our company.”
Mr. Card served as Chief of Staff to President George W. Bush from November 2000 to April 2006. Currently Mr. Card serves on the board of directors at Union Pacific Corporation (NYSE: UNP). He is also a senior counselor at the global public relations firm Fleishman-Hillard, serving on the international advisory board. Card is also a co-founder of the Lonsdale Group, a Managing Director of Lincoln Vale Canada International, on the global advisory board of Alexander Proudfoot, and on the advisory board of the United States Chamber of Commerce.
“As someone who knows people battling amyotrophic lateral sclerosis (ALS), or Lou Gehrig’s disease, and the challenges they face, I’m encouraged by BrainStorm’s progress and look forward to contributing to the company’s advancement of a promising new potential treatment option for this and other neurodegenerative diseases,” said Mr. Card.
Prior to joining the White House, he was Vice President-Government Relations for General Motors Corporation. From 1993 to 1998, Mr. Card was President and Chief Executive Officer of the American Automobile Manufacturers Association. Mr. Card served as the 11th Secretary of Transportation under President George H.W. Bush from 1992 through 1993. He also served as a Deputy Assistant to the President and Director of Intergovernmental Affairs for President Ronald Reagan.
BrainStorm’s Business Advisory Board, which is designed to review company policies, to advise on strategy, and to discuss market conditions in the life science industry, includes the following prominent individuals in addition to Mr. Card: Dr. Jacob Frenkel, Chairman of JPMorgan Chase International and a member of the JPMorgan Chase (NYSE: JPM) Executive Committee and its International Council; Harvey Krueger, Vice Chairman of Barclays Capital and Chairman Emeritus of Lehman Brothers, Inc.; and Rasheda Ali, author and daughter of former three-times World Heavyweight Champion Muhammad Ali, who suffers from Parkinson’s disease.
BrainStorm’s core technology, NurOwn™, is based on the scientific achievements of Professor Eldad Melamed, former Head of Neurology, Rabin Medical Center, and Tel-Aviv University, and a member of the Scientific Committee of the Michael J. Fox Foundation for Parkinson's Research, and Professor Daniel Offen, Head of the Neuroscience Laboratory, Felsenstein Medical Research Center (FMRC) at the Tel-Aviv University.
The NurOwn™ technology processes adult human mesenchymal stem cells that are present in bone marrow and are capable of self-renewal as well as differentiation into many other cell types. The research team is among the first to have successfully achieved the in vitro differentiation of adult bone marrow cells (animal and human) into astrocyte-like cells capable of releasing neurotrophic factors, including glial-derived neurotrophic factor (GDNF). The ability to induce differentiation into astrocyte-like cells along with intramuscular or intrathecal (or other) delivery makes NurOwn™ technology highly attractive for treating ALS and Parkinson’s disease as well as MS and spinal cord injury.
BrainStorm’s stem cell therapy contains human mesenchymal stromal cells induced to differentiate into astrocyte-like cells secreting neurotrophic factors by means of a specific differentiation-inducing culture medium.
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 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. 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. 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.