Top News

American Apparel Got Indication of Interest for $1.30-$1.40 per Share
Tweet TWEET

BrainStorm Receives 3 Million NIS Grant from Israel’s Office of the Chief Scientist

  BrainStorm Receives 3 Million NIS Grant from Israel’s Office of the Chief
  Scientist

Business Wire

NEW YORK & PETACH TIKVAH, Israel -- December 12, 2012

BrainStorm Cell Therapeutics Inc. (OTC.QB: BCLI), a leading developer of adult
stem cell technologies for neurodegenerative diseases, announced today that
Brainstorm Cell Therapeutics Ltd. was awarded a 3 million NIS grant from
Israel’s Office of the Chief Scientist (OCS) for the year 2013. The grant is
intended to support BrainStorm’s Research and Development program for its
innovative stem cell therapy candidate NurOwn.

“We are thankful to the OCS for its continued support of our Research and
Development program. The non-dilutive capital funding from the OCS will help
facilitate continuation of our clinical trials in Israel, as well as our
preparations for clinical trials in the USA,” said Dr. Adrian Harel,
BrainStorm’s CEO.

The OCS has supported BrainStorm Cell Therapeutics Ltd. since 2007, providing
grants of a total of $1.8 million until today. The Company is required to pay
royalties to the OCS, amounting to 3% - 3.5% of revenues derived from sales of
the products funded with these grants, but only up to the amount equal to 100%
of the grants received plus LIBOR interest.

As reported by Brainstorm on Monday December 10, the Company anticipates
announcing a new date for its shareholders teleconference shortly.

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.

About the Office of the Chief Scientist

The Office of the Chief Scientist (OCS) in Israel’s Ministry of Industry,
Trade and Labor is charged with execution of government policy for support of
industrial R&D. The goal of the OCS is to assist in the development of
technology in Israel as a means of fostering economic growth, encouraging
technological innovation and entrepreneurship, leveraging Israel's scientific
potential, enhancing the knowledge base of industry in Israel, stimulating
high value-added R&D and encouraging R&D collaboration both nationally and
internationally.

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.

Contact:

BrainStorm Cell Therapeutics Inc.
Dr. Adrian Harel, Ph.D., CEO
+972-3-9236384
info@brainstorm-cell.com
www.brainstorm-cell.com
 
Press spacebar to pause and continue. Press esc to stop.