Adult stem cell therapy developer Brainstorm Cell Therapeutics Ltd. (Bulletin Board:BCLI) president Chaim Lebovits has appointed Dr. Adrian Harel as the company's new COO and acting CEO, ahead of the launch of human clinical trials of the company's product in March.
In October, Brainstorm Cell obtained Ministry of Health approval for a Phase I/II clinical trial using the company’s stem cell therapy for the treatment of amyotrophic lateral sclerosis (ALS) (Lou Gehrig's Disease). The trial will be conducted at Hadassah Medical Center Ein Kerem in Jerusalem.
Harel, a neurologist, has held a number of managerial and consultancy posts at drug development companies. He was appointed because of his experience working with the complex regulations for human clinical trials in Israel and other countries. He will take Brainstorm Cell from the preclinical stage to the human clinical trials of its ALS treatment. After the trials, the company will apply its treatment to other neurological diseases, such as Parkinson's, Huntington's, and multiple sclerosis.
Brainstorm Cell's treatment involves the implanting of adult stem cells (autologous cells) taken from the patient's bone marrow. The cells are cultured to differentiate to secrete factors that are aimed at delaying the onset of, and possibly halting, ALS deterioration, and implanted back in the patient.
Brainstorm Cell's share price closed at $0.22 in New York on Friday, giving a market cap of $20 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011