NEW YORK, NY and PETACH TIKVAH, Israel, via eTeligis Inc., 06/06/2014 - - BrainStormCell Therapeutics (OTCQB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, announced today that the first patient was enrolled in its Phase II ALS trial at Massachusetts General Hospital (MGH) in Boston.
BrainStorm'sPhase II trial is a randomized, double-blind, placebo controlled multi-center study designed to evaluate the safety and efficacy of transplantation of Autologous Mesenchymal Stem Cells SecretingNeurotrophicFactors ("MSC-NTF" orNurOwn) in 48 ALS patients. The trial is also being conducted at the University of Massachusetts Memorial (UMass) Hospital in Worcester, MA and the Mayo Clinic in Rochester, Minnesota.
NurOwnis an autologous, adult stem cell therapy technology that differentiates bone marrow-derived mesenchymal stem cells (MSC) into "MSC-NTF" cells. These neuron-supporting cells secrete elevated levels ofneurotrophic, or nerve-growth, factors for PROTECTION of existing motor neurons, PROMOTION of motor neuron growth, and RE-ESTABLISHMENT of nerve-muscle interaction.The ability to differentiate mesenchymal stem cells into MSC-NTF cells, and confirmation of their activity and potency before transplantation, makesNurOwna first-of-its-kind approach for treating neurodegenerative diseases.More information aboutNurOwncan be found athttp://brainstorm-cell.com/index.php/science-a-technology/-nurown.
AboutBrainStormCell Therapeutics, Inc.
BrainStormCell 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 itsNurOwntechnology through an exclusive, worldwide licensing agreement withRamot, the technology transfer company of Tel Aviv University. For more information, visit the company's website atwww.brainstorm-cell.com.
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Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could causeBrainStormCell Therapeutics Inc.'s actual results to differ materially from those stated or implied by suchforward-lookingstatements. 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 withBrainStorm'slimited operating history, history of losses; minimal working capital, dependence on its license toRamot'stechnology; 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 inBrainStorm'sannual report on Form 10-K and quarterly reports on Form 10-Q available athttp://www.sec.gov.These factors should be considered carefully, and readers should not place undue reliance onBrainStorm'sforward-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.
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