Full Press Release Details
Efrati, Former VP Business Development and Marketing for NICE SYSTEMS'
Government Division, Joins BrainStorm As CEO
& PETACH TIKVAH, Israel-October 12, 2007--BrainStorm Cell Therapeutics Inc.
leading developer of adult stem cell technologies and therapeutics, today
announced the appointment of Rami Efrati as CEO. The addition of Efrati to
Brainstorm's team provides strong management skills that were important to
future success of Brainstorm. Efrati's appointment is paramount as Brainstorm
approaches the crucial clinical phases of its research; at the same time the
company is ramping up for its pre IND FDA approval process as indicated through
the recent addition of key advisors with substantial FDA experiences.
as CEO of BrainStorm is an opportunity for me to drive the company from its
development phase to a successful and mature company," Mr. Efrati said.
"BrainStorm is an innovative enterprise with world-class scientists who have
already achieved remarkable preclinical results using autologous, adult-stem
cell-derived therapies."
very excited to have Rami join as our CEO. He will, with G-d's help, provide
substantial insight to BrainStorm by leveraging his vast management experience
and visionary leadership," commented Chaim Lebovits, President of BrainStorm.
"Our company is fortunate to attract this talented and experienced specialist
who will add his knowledge of the technology sector to our renowned team
scientists, medical experts and FDA consultants."
Efrati brings with him extensive management experience as well as worldwide
business development, marketing and sales capabilities. As a former commander
technological and operational elite units and a retired Colonel of the Israeli
Defense Forces for over 28 years, Mr. Efrati received a special award for
joining BrainStorm, Efrati served as VP sales, business development and
marketing for NICE SYSTEMS (NASDAQ:NICE
government project division for seven years.
Efrati is one of the founders and CEO of TeleFlight Technologies, a
technological company specializes in research and development of micro
electronics solutions that is mainly oriented for unmanned systems.
also a LION'S member and serves the community as President of Givatayim Lions
Club. Prior to that he was in charge of the international relations and
cooperation of LIONS Israel.
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 and ALS diseases, although its technology has promise for
treating several others diseases including MS, Huntington's disease and stroke.
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, risks
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
BrainStorm Cell Therapeutics Inc.'s stock which may never develop into an
market; and other factors detailed in BrainStorm Cell Therapeutics Inc.'s
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
request to the Company. The Company does not undertake any obligation to
forward-looking statements made by us.
Miller, 212-999-5585