NEW YORK, NY and PETACH TIKVAH, Israel, via eTeligis Inc., 07/28/2014 - - BrainStormCell Therapeutics Inc. (OTCQB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases,received Notice of Allowance from the United States Patent Office for Patent Application 12/994,761, titled Mesenchymal Stem Cells forthe Treatment of CNS Diseases.
This patent covers the use of mesenchymal stem cells that secrete elevated levels of brain-derivedneurotrophicfactor (BDNF) to treat diseases of the central nervous system, including but not limited to Amyotrophic Lateral Sclerosis (ALS), Parkinsons disease, Alzheimers disease, Huntingtons disease, multiple sclerosis, among others.The Patent Office recognized a priority date for this patent of May 28, 2008.
We are gratified that the US Patent Office has recognized the innovative nature ofNurOwn, our proprietary, differentiated mesenchymal stem cells, for use in treating a variety of neurologic diseases, commentedBrainStormsCEO TonyFiorino, MD, PhD., This important patent represents yet another step forward in our intellectual property strategy, and we continue to aggressively pursue patents on all of our commercially important discoveries.
This patent falls under the companys licensing agreement withRamot, the technologytransfer organizationof Tel Aviv University, and reflects the continued collaboration between the company and the laboratory ofProf.DaniOffen, the company's chief scientist.
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 andcommercializeitsNurOwntechnology through an exclusive, worldwide licensing agreement with Ramot, the technology transfer company of Tel Aviv University. For more information, visit the companys website atwww.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 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 at http://www.sec.gov.These factors should be considered carefully, and readers should not place undue reliance onBrainStormsforward-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 ormanagements 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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