Full Press Release Details
S&S Public Relations
Golden Hand Resources Enters into Collaboration with Scientists at Tel-Aviv
University on Development of Autologous Stem Cell Technology
Company Names Experienced Biotechnology Executive
as President and CEO of New Venture
Tel Aviv, Israel-- (November 9th, 2004) -- Golden Hand Resources Inc. (OTC
BB:GDNH.OB), an emerging company in the cell therapy space, has announced the
payment of an initial License Fee and R&D installment to Ramot, the technology
transfer arm of Tel Aviv University, pursuant to their Research and Licensing
Agreement to collaborate on the development of cutting-edge technology for
differentiation of bone marrow derived stem cells into functional neuronal-like
To lead the new venture, Golden Hands Resources has named Dr. Yaffa Beck,
as its President and Chief Executive Officer. Dr. Beck has over 22 years
experience in the Israeli biotechnology industry and brings extensive management
experience, including financing, operations, business development, pre-clinical
and clinical development. Most recently, she served as President and CEO of
VentuRx Holdings Ltd., her own consulting company, pursuing innovative
technologies in the life sciences. She was co-founder and COO of D-Pharm Ltd.
and also held management positions at Orgenics Ltd. and Biotechnology General
Ltd. Dr. Beck holds a D.Sc. from the University of Pretoria, RSA and a Diploma
in Management and Administration from Bradford University (UK).
"I am very excited about joining the company and am looking forward to a
fruitful relationship with the talented researchers at Tel-Aviv University. I am
confident that the pioneering achievements of Dr. Daniel Offen and Prof. Eldad
Melamed can be developed from the lab to the clinic to bring future benefit to a
large number of patients," said Beck. "We believe that adult stem cell therapies
are the logical next step in stem cell clinical applications. Stem cells from
bone marrow hold the promise to be just as effective as embryonic stem cells,
without posing the moral or ethical issues inherent in the use of embryonic
tissue. Moreover, by focusing on the development of NurOwnTM, autologous cell
transplants derived from the patients' themselves, we can avoid side effects and
overcome immune rejection."
Golden Hand's NurOwn(TM) technology is based on collaboration between
prominent neurologist, Prof Eldad Melamed, Head of Neurology at Rabin Medical
Center, and expert cell biologist Dr. Daniel Offen, at the Felsenstein Medical
Research Center of Tel-Aviv University. The proprietary technology, to which
Golden Hand has an exclusive license, involves induction of bone marrow stromal
cells to differentiate into neural-cells, capable of neurotransmitter release.
"We believe that the ability of these cells to reverse Parkinsonian
behaviour upon transplantation into brains of animal models may translate into
an effective therapy for Parkinson patients." said Prof. Melamed. "We are
pleased to be working with Golden Hand Resources and for the opportunity to have
our initial research developed into products that can help mankind," said Isaac
Kohlberg, Chief Executive Officer of Ramot. "Also, having worked with Dr. Beck,
I am confident of her ability to provide the vision and leadership to lead the
company's technology towards clinical feasibility and commercial viability."
For more information, contact Dr. Yaffa Beck at yaffbeck@zahav.net.il.
About Parkinson's Disease
Parkinson's Disease (PD), which was first described by James Parkinson in 1817
as "the shaking palsy", is a chronic, progressive neurodegenerative disorder,
affecting the brain cells responsible for production of dopamine. The symptoms
include tremors, rigidity, slowness of movement and impaired balance. Over four
million people in the developed world, including as many as 1.5 million
Americans, mainly over the age of 65, are diagnosed with PD. That figure is
predicted to rise by 10% by 2010. Pharmaceutical treatments of PD with an
estimated combined annual market value of $4 billion, are insufficient to meet
patient needs. The search for more effective treatments continues.
About Stem Cell Therapy
Stem cells are non-specialized cells with a remarkable potential for both
self-renewal and differentiation into cell types with a specialized function,
such as muscle, blood or brain cells. Stem cells may be sourced from fetal or
embryonic tissue or from adult tissue reservoirs such as bone marrow. Use of
embryonic stem cells, has become the center of significant ethical and moral
debate. In contrast, use of adult stem cells does not face the same moral or
legal controversy. Stem cell therapy aims to "cure" disease by replacing the
diseased' cells with healthy' cells derived from stem cells. This approach hasthe potential to revolutionize medicine and, if successful, the implied
commercial opportunities are great. Currently, both embryonic stem cells (ESC)
and adult stem cells (ASC) are being explored as the potential basis for
multiple cell therapy products.
About Gold Hand Resources:
Golden Hand Resources is an emerging company developing neural-like stem cell
therapeutic products, NurOwnTM, based on autologous bone marrow derived stromal
cells, for treatment of neurodegenerative diseases.
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 Golden Hand Resources' actual results to differ materially from
those stated or implied by such forward-looking statements. The potential risks
and uncertainties include, among others, risks associated with Golden Hand
Resources' limited operating history, history of losses and expectation to incur
losses for the foreseeable future; need to raise additional capital to execute
on its business plan; dependence on its license to Ramot's technology and
ability to meet its funding and payment obligations included in such license
agreement; ability, together with its licensor, to adequately protect the
NurOwnTM technology; dependence on key executives who have recently joined the
company and on its scientific consultants; ability to identify, negotiate and
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 Golden Hand
Resources' market; the limited public trading market for Golden Hand Resources'
stock which may never develop into an active market; and other factors detailed
in Golden Hand Resources' annual report on From 10-KSB, quarterly reports on
Form 10-QSB, current reports on From 8-K and other filings with the Securities
and Exchange Commission available at http://www.sec.gov or by request to the