Full Press Release Details
Industry Leader, Dr. Jonathan C. Javitt, Joins BrainStorm Cell
Therapeutics Board of Directors
White House Advisor and Johns Hopkins Professor
Recent Addition to World Class Team
& PETACH TIKVAH, Israel - August 27, 2007 - BrainStorm Cell Therapeutics
Inc. (OTCBB: BCLI), a leading developer of adult stem cell technologies
and therapeutics, today announced the election of Jonathan C. Javitt, M.D.,
M.P.H. to its Board of Directors. The addition of Dr. Javitt to
Brainstorm's team demonstrates the company's significant strides in its research
as it begins the crucial clinical phases of its research; at the same time
company is ramping up for its FDA approval process as indicated through the
addition of key advisors with substantial FDA experiences.
on the BrainStorm board is an opportunity for me to help advance the potential
of autologous, adult-stem cell-derived therapies to improve the lives of
patients with neurodegenerative diseases," Dr. Javitt said. "BrainStorm is
innovative enterprise with world-class scientists who have already achieved
remarkable preclinical results."
very excited to have Dr. Javitt join our Board of Directors. He will, with
G-d's help, provide substantial insight to BrainStorm by leveraging his
experience and visionary leadership," commented Chaim Lebovits, President
BrainStorm. "BrainStorm is fortunate to attract this talented and
experienced healthcare leader to its Board of Directors. Recently, Dr.
Javitt was instrumental in guiding the first pharmaceutical therapy for macular
degeneration through the regulatory process in record time. His innovative
guidance will be invaluable to Brainstorm's management as we move into the
clinical phase of our endeavors."
Javitt is a physician with a background in information technology, health
economics, and public health, who serves as a Senior Fellow of the Potomac
Institute for Policy Studies, in addition to serving as Chairman and CEO
Health Directions, LLC, an investment and consulting group that focuses on
healthcare information technology and biotechnology. Dr. Javitt has been
founder of health information technology companies that have become part
Siemens, Inc.(NYSE:SI), United Health Group, Inc., and Aetna, Inc.(NYSE:AET)
Currently, he serves as Managing Director for Health Care and Life Sciences
BTI, Inc. and is a Director of Flexscan, Inc. (Nasdaq: FXSC). Dr.
Javitt continues to serve as a Professor of Ophthalmology (adj.) at the Johns
Javitt was appointed by President Bush on May 8, 2003 to the President's
Information Technology Advisory Committee (PITAC), where he chaired the Health
Subcommittee. Their report, Revolutionizing Health Care through Information
Technology has served as a blueprint for concerted Executive and Legislative
Branch focus on computerizing the nation's healthcare infrastructure. Dr. Javitt
was subsequently appointed as an at-large delegate to the 2006 White House
Conference on Aging.
Javitt joined the faculty of Johns Hopkins in 1988 as the first ophthalmologist
to be granted a Physician Scientist Award by the National Eye Institute of
National Institutes of Health. He joined the faculty of Georgetown University
1990, where he directed and participated in more than $20 million of
federally-funded research focused on outcomes of, and delivery of, health
including diseases of the eye, diabetes, and breast cancer. He is the author
more than 200 publications related to health care delivery and holds two
patents. He authored the first book on computers in medicine and has published
more than 200 scientific works in the New England Journal of Medicine, the
Journal of the American Medical Association, and numerous other peer-reviewed
Javitt served as a member of the White House Health Reform Task Force. He
been an expert consultant to the World Bank, the National Institutes of Health,
the Health Care Financing Administration, Department of Veterans Affairs,
the ministries of health of United Kingdom, Sweden, Australia, Japan, and
Netherlands. He has been an active consultant in pharmacoeconomics and
pharmaceutical development and has completed product development projects
Alcon, Allergan, American Home Products, Chiron, OSI/Eyetech, Lilly, Merck,
Pharmacia and Pfizer.
addition, Michael Greenfield announced that he is resigning from the BrainStorm
Board of Directors, effective upon Dr. Javitt's election, in order to pursue
other opportunities. "Mike has been a great contributor to BrainStorm and
its Board of Directors. The BrainStorm Board and management team thank
Mike for his work with the Company and we wish him great success with his
endeavors," said Mr. Lebovits.
July 1, 2007, BrainStorm has made significant progress and improvement to
financial condition and its scientific leadership team, including:
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(tm) technology; dependence on
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