BrainStorm Enters Letter of Intent to Begin Preclinical Primate Studies of Stem Cell-Based Therapy for Parkinson's Disease

BrainStorm Cell Therapeutics has announced that it has entered into a Letter Of Intent (LOI) with the Center for Applied Medical Research (CIMA) of the University of Navarra to conduct safety trials in primates of the Company's Parkinson's disease stem cell therapy.

The trials will be conducted in Pamplona, Spain, with the intention to move into human clinical trials as soon as is practically possible.

Commenting on the announcement, Yoram Drucker, BrainStorm Cell Therapeutic's Chief Operating Officer stated, "We are pleased to begin this next phase of our testing."

"BrainStorm has already shown efficacy for this adult stem cell therapy in both mice and rats, and we anticipate that successful results of our primate safety studies will quickly lead to clinical trials in humans."

Mr. Drucker went on to say, "There are an estimated 4 million people in the Western world suffering from Parkinson's disease and we are eager to validate the therapy that we believe will provide considerable relief of their symptoms."

The LOI calls for the scientific teams of BrainStorm and CIMA to create a detailed protocol for the trials, which will then be managed by Professor Jose Obeso, Senior Scientist at the Movement Disorders Laboratory at CIMA and Chief of the Movement Disorders Unit in Parkinson's Disease at the University Hospital (University of Navarra), and Professor Eldad Melamed, Chief of Neurology at the Rabin Medical Center, Tel Aviv University and Chief Medical Officer of BrainStorm.

All intellectual property rights resulting from the trials will belong exclusively to BrainStorm.

CIMA, or its designee, shall receive royalty payments from the Company based on net sales from any resulting Parkinson's disease treatments.

The royalty agreement will include sales in Portugal, Spain, France, and the Netherlands countries.

Professor Obeso of CIMA stated, "This is a very exciting project for us. BrainStorm's progress in adult stem cell research is renown within the scientific community and we look forward to working with them to substantiate their work in the treatment of Parkinson's disease."

The Company's anticipates the primate studies will begin by the end of this year, with human clinical trials to follow as soon as possible.