Full Press Release Details
Cell Therapeutics Elects
Lion to its Board of Directors
YORK & PETACH TIKVAH, Israel - July 16, 2007 - BrainStorm Cell Therapeutics
Inc. (OTCBB: BCLI), a leading developer of adult stem cell technologies and
therapeutics, announced today the election of Moshe Lion to the Company's Board
are pleased to have Mr. Lion join the BrainStorm team," commented Chaim
Lebovits, President of BrainStorm. "His extensive financial and business
background will ,with gods help, immensely contribute toward helping us to
achieve our goals of further growth and success of the Company and its cause."
Lion is a senior partner of Lion, Orlitzky and Co, A member of Moore Stephens
international and serves as a director of the Israel Council for Higher
Education and the Wingate Institute for Physical Education . Mr. Lion also
serves as a director in Elbit Medical Imaging Ltd (TASE, Nasdaq: EMITF).
Previously, Mr. Lion was Chairman of Israel Railways, Director of Elscint
Director of Massad Bank and Director of Bank Tefachot. Prior to that, Mr.
served as Director General of the Israeli Prime Minister's Office as well
economic advisor to the Israeli Prime Minister. He also served as the Head
the Bureau of the Israeli Prime Minister's Office. Mr. Lion holds a Bachelor
Arts degree in accounting and economics and a Master's Degree in Law (LL.M.)
from Bar Ilan University.
am honored to join the BrainStorm team and become a part of the Company's
efforts toward long-term and permanent remedies for life-threatening
neurodegenerative disorders," commented Mr. Lion. "I look forward to working
with BrainStorm's dynamic team of professionals and helping to further enhance
the Company's already remarkable efforts."
appointment increases BrainStorm's board to four members. In addition to Mr.
Lion, the members of BrainStorm's board include Dr. Irit Arbel, one of the
founders of BrainStorm who served as its president until November 2004; Mr.
Michael Greenfield who also currently manages Evergreen Field Enterprises;
Dr. Robert Shorr, President of Cornerstone Pharmaceuticals, a company engaged
clinical development of a novel drug delivery technology for
BrainStorm Cell Therapeutics Inc.
Cell Therapeutics Inc. is an emerging company developing adult stem cell
therapeutic products, derived from autologous (self) bone marrow cells, for
treatment of neurodegenerative diseases. The NurOwn(TM) patent pending
technology is based on discoveries made by the scientific team led by prominent
neurologist Professor Eldad Melamed, Head of Neurology at Rabin Medical Center,
and expert cell biologist Dr. Daniel Offen, Head of the Neuroscience Laboratory
at the Felsenstein Medical Research Center of Tel-Aviv University. The
technology allows for the differentiation of bone marrow-derived stem cells
functional neurons and astrocytes, as demonstrated in animal models. The
holds rights to develop and commercialize the technology through an exclusive,
worldwide licensing agreement with Ramot at Tel Aviv University Ltd., the
technology transfer company of Tel-Aviv University. The Company's initial
is on Parkinson's disease, although its technology has promise for treating
several others diseases including MS, ALS, Huntington's disease and
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, including
BrainStorm's ability to complete its equity financing transactions previously
disclosed,. The potential risks and uncertainties include, among others,
associated with BrainStorm Cell Therapeutics Inc.'s limited operating history,
history of losses and expectation to incur losses for the foreseeable future;
dependence on its license to Ramot's technology; ability, together with its
licensor, to adequately protect the NurOwn technology; dependence on key
executives and on its scientific consultants; ability to identify, negotiate
successfully implement strategic partnering relationships; ability to complete
clinical trials successfully and to obtain required regulatory approvals;
competition with companies, some of which have greater resources and experience
in developing and obtaining regulatory approval for treatments in BrainStorm
Cell Therapeutics Inc.'s market; the limited public trading market for
BrainStorm Cell Therapeutics Inc.'s stock which may never develop into an active
market; and other factors detailed in BrainStorm Cell Therapeutics Inc.'s annual
report on Form 10-KSB, quarterly reports on Form 10-QSB, current reports
8-K and other filings with the Securities and Exchange Commission available
http://www.sec.gov/ or by request to the Company. The Company does not undertake
any obligation to update forward-looking statements made by us.