NEW YORK & PETACH TIKVAH, Israel -- (BUSINESS WIRE) -- BrainStorm Cell Therapeutics (OTCQB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, today announced that it will initiate a pre-clinical study for Multiple Sclerosis (MS) at the Hebrew University Hadassah Medical Center’s SPF-grade animal laboratory in Jerusalem. The study was approved by the Institutional Animal Care and Use Committee (IACUC) of the Hebrew University.
Based on promising pre-clinical data published by the Company's Chief Scientist, Prof. Daniel Offen of Tel Aviv University, BrainStorm will conduct further studies using the Experimental Autoimmune Encephalomyelitis (EAE) animal model to evaluate MS as an additional indication for its NurOwn technology. Professor Dimitrios Karussis and Dr. Ibrahim Kassis, who have published extensively on pre-clinical research using the EAE model, will be the Principal Investigators of the study.
Prof. Karussis, a Key Opinion Leader in the field of MS, is Head of the multi-disciplinary MS Clinic and Center at Hadassah, member of the European Steering Committee for Bone Marrow Transplantation in MS, member of the Executive Board and Scientific Committee of the European School of Neuroimmunology (ESNI), and former board member of the European Council and Committee for Treatment and Research in MS. He has been the Principal Investigator of several multi-national clinical trials in MS conducted by global pharmaceutical companies.
NurOwn is an autologous, adult stem cell therapy technology that induces bone marrow-derived mesenchymal stem cells (MSC) to secrete high levels of neurotrophic factors for protection of existing motor neurons, promotion of motor neuron growth, and re-establishment of nerve-muscle interaction. More information about NurOwn™ can be found at http://brainstorm-cell.com/index.php/science-a-technology/-nurown.
About Multiple Sclerosis (MS)
Multiple sclerosis (MS) is believed to be an autoimmune disorder that affects the central nervous system (CNS). Autoimmune means that the body’s immune system mistakenly attacks its own tissue, in this case, the tissues of the CNS. With MS, autoimmune damage to neurons disrupts the body’s ability to send and receive signals, thus causing MS-related symptoms. Symptoms may vary due to the location and extent of the damage. Worldwide, MS may affect more than 2 million individuals, including approximately 400,000 people in the United States.
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.
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.