BrainStorm Cell Therapeutics (OTCQB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, today announced that the European Patent Office (EPO) has granted the company patent number EP1893747, entitled "Isolated Cells and Populations Comprising Same for the Treatment of CNS Diseases." The European Patent Application will be published in the European Patent Bulletin 14/36 on September 3, 2014. This patent covers a method of production of the company's proprietary NurOwn™ technology, which consists of mesenchymal stem cells induced to secrete large quantities of neurotrophic factors, for use in the treatment of neurodegenerative diseases.
“This patent complements the two US patents that BrainStorm secured in 2014, extending our intellectual property into Europe, which is clearly a major market for all of the neurodegenerative diseases that could be treated by NurOwn,” commented Tony Fiorino, MD, PhD, Chief Executive Officer of BrainStorm. “For example, the prevalent ALS population in the European Union rivals that of the US.” NurOwn™ has been studied in over thirty ALS patients in Israel and is currently being studied in a multicenter, randomized, placebo-controlled; double-blind phase 2 clinical trial in 48 ALS patients in the US.
BrainStorm has now been issued four patents on its NurOwn™ platform, with multiple additional patent applications pending in various jurisdictions. The company plans to continue to diligently pursue patent protection and market exclusivity for its NurOwn™ platform.
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.
BrainStorm Cell Therapeutics Inc.
Tony Fiorino, MD, PhD
Chief Executive Officer
Phone: (646) 666-3188
US Investor Contact
LifeSci Advisors, LLC
Phone: (646) 597-6979
SOURCE: BrainStorm Cell Therapeutics Inc.