BrainStorm Granted Key US Patent for Its Autologous Stem Cell Technology
NEW YORK, NY and PETACH TIKVAH, ISRAEL -- (Marketwired) -- 03/24/14
-- BrainStorm Cell Therapeutics (OTCQB: BCLI), a leading developer
of adult stem cell technologies for neurodegenerative diseases, today
announced that the U.S. Patent and Trademark Office has granted the
company a key patent for its autologous stem cell technology. The
patent (No. 8,663,987) covers BrainStorm's proprietary stem cells
induced to secrete elevated levels of neurotrophic factors for the
treatment of neurodegenerative diseases.
The neurotrophic factors secreted by the company's patented cells
include Glial Cell-Derived Neurotrophic Factor (GDNF) and
Brain-Derived Neurotrophic Factor (BDNF), known to support the neural
cell network by protection of existing motor neurons, promotion of
motor neuron growth, and re-establishment of nerve-muscle
interaction. The level of secretion of these factors is several-fold
higher in BrainStorm's patented cells than in non-induced mesenchymal
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(TM) stem cell therapy, which was developed with
"The recent bill introduced to the US Senate to support regenerative
medicine research is yet another indication of the increasing
recognition that stem cells hold the promise for curing
life-threatening and debilitating conditions like ALS," commented Mr.
Chaim Lebovits, BrainStorm's President and Principal Executive
"We are very encouraged by the bill's proposal to appoint a council
that would develop and maintain a national strategy for the promotion
of regenerative medicine research and development, including
identifying priorities and sources of funding, as well recommending
policies to overcome barriers in research and product development."
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.
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.
BrainStorm Cell Therapeutics Inc.
Mr. Chaim Lebovits
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