Prize4Life Endorses and Supports Mission of BrainStorm Cell Therapeutics to Develop Cure for ALS (Lou Gehrig's Disease)
Wednesday October 10, 6:37 am ET
CAMBRIDGE, Mass--(BUSINESS WIRE)--Prize4Life, Inc., an accomplished nonprofit organization founded to accelerate research into a cure for Amyelotrophic Lateral Sclerosis (ALS)/Motor Neuron Diseases (MND), announced today that it is excited to learn of the progress that BrainStorm Cell Therapeutics Inc. (OTCBB:BCLI - News), a leading developer of adult stem cell technologies and therapeutics, is making to advance a cure for ALS. Earlier this week, BrainStorm announced that it is initiating a series of efficacy and safety studies toward an ALS cure.
Avichai "Avi" Kremer, Chief Executive Officer of Prize4Life, said, "Prize4Life applauds BrainStorm's decision to invest in the research toward a cure for ALS. As one of the first commercial enterprises focusing on ALS research, BrainStorm's announcement of initial success brings us great excitement. We hope that through BrainStorm, or other companies and institutions following its lead, a cure to this devastating disease can be found."
About Prize4Life
Prize4Life is a 501(c)(3) non-profit organization that seeks to create breakthroughs in effective ALS/MND (Lou Gehrig's disease) treatments using the leverage of large inducement prizes. Inspired by the success of other inducement prizes (such as DARPA's Grand Challenge, NASA's Centennial Challenges, and the X Prize Foundation), Prize4Life recently launched a $1 Million ALS/MND Biomarker Challenge to stimulate scientific breakthroughs in ALS/MND. The organization will be launching several other multi-million dollar challenges in the near future.
About BrainStorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics Inc. is an emerging company developing adult stem cell therapeutic products, derived from autologous (self) bone marrow cells, for the 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 into functional neurons and astrocytes, as demonstrated in animal models. The Company 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 focus is on Parkinson's disease, although its technology has promise for treating several others diseases including MS, ALS, Huntington's disease and stroke.
Please see BrainStorm Safe Harbor Statement:
http://www.brainstorm-cell.com/Index...154&CategoryID =76&Page=1. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
Contact:
For BrainStorm Cell Therapeutics Inc.
Kristin Sommers, 212-999-5585
ksommers@5wpr.com
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Source: BrainStorm Cell Therapeutics Inc.