BrainStorm and Octane to Develop Revolutionary Bioreactor-Based NurOwn Stem
Cells Production Process
NEW YORK & PETACH TIKVAH, Israel -- December 17, 2012
BrainStorm Cell Therapeutics (OTC.QB: BCLI), a leading developer of adult stem
cell technologies for neurodegenerative diseases, announced today that it has
signed an agreement with Octane Biotech of Kingston, Ontario, to jointly
develop a proprietary bioreactor for production of its NurOwn stem cell
therapy candidate. The customized bioreactor will enable BrainStorm to
optimize its NurOwn production process, significantly increasing its
production capabilities by using a single clean room for multiple patients,
reducing costs and time. The project is supported by a grant awarded by the
Canada-Israel Industrial Research and Development Foundation (CIIRDF).
Under the terms of the agreement, the companies will develop a commercially
viable, safe, reliable, and cost-effective bioreactor for scale-up of
BrainStorm’s NurOwn stem cell therapy, using Octane’s Automated Cell & Tissue
Engineering System (ACTES) technology. The CIIRDF funding award was approved
for a period of three years.
“Octane is the ideal partner for us, since they have a particular expertise in
developing automated production processes for mesenchymal cell therapy
technologies,” commented Dr. Adrian Harel, BrainStorm’s CEO. “We are anxious
to move ahead with this project, in order to be in a position to provide
NurOwn as quickly as possible, and to as many patients as possible, in the
“The opportunity to work with BrainStorm on scaling-up the NurOwn production
process is a particularly meaningful one, given the urgency of its target
population,” said Dr. Tim Smith, Octane’s CEO. “We are confident that our
combined knowledge base and commitment to the project will help advance their
product significantly closer to clinical use.”
BrainStorm is currently conducting a Phase I/II clinical trial in ALS patients
at the Hadassah Medical Center in Jerusalem and is planning to expand its
clinical development in the USA, pending FDA approval. Towards that goal, the
Company has entered into a Memorandum of Understanding with the University of
Massachusetts Medical School and Massachusetts General Hospital to begin ALS
human clinical trials at these institutions.
About BrainStorm Cell Therapeutics
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 Octane Biotech
Octane develops innovative bioreactor-based systems to meet the production
challenges inherent in the progressive scale-up of manual cell culture
protocols. The company’s unique Automated Cell & Tissue Engineering System
(ACTES) solution integrates state-of-the-art bioreactors, biosensors and
bioprocessing to enable routine GMP production of cell-based products for
clinical therapeutics. Octane Biotech Inc. is one of three affiliated
companies within the Octane Medical Group. For more information, visit the
company’s website at www.octaneco.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.
BrainStorm Cell Therapeutics Inc. (OTC.QB: BCLI)
Dr. Adrian Harel, CEO
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