BrainStorm Cell Therapeutics Inc. Appoints Alon Natanson as CEO
NEW YORK & PETACH TIKVAH, Israel- BrainStorm Cell Therapeutics (BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, announced today that it has appointed Mr. Alon Natanson as its new Chief Executive Officer (CEO). Mr. Natanson succeeds Dr. Adrian Harel, who will move into an executive scientific role in the company.
"Adrian Harel has led BrainStorm through a transforming period in the company's history, both in terms of our clinical achievements as well as our financial security. We are pleased that he will be continuing to serve the company, albeit in a different capacity," said Professor Avi Israeli, Chairman of the Board of Directors.
Prior to joining BrainStorm, Mr. Natanson, 49, successfully led large as well as early-stage companies in the fields of life science, high-tech, and retail. Previously, as Director of Marketing and Finance in Teva Pharmaceuticals' (TEVA) Copaxone division, he played a key role in the commercialization of patented therapeutics for multiple sclerosis, establishing the division and executing its international strategy and product launch. Mr. Natanson has also led the successful turnaround of two insolvent American retail companies, transforming them into growing organizations with substantial gross margins. Since 2008, he served as President and CEO of Procognia (TASE:PRCG), a biotechnology company specializing in glycobiology and biopharmaceutical analytics.
"We are delighted to have Alon Natanson on board and warmly welcome him to BrainStorm," added Professor Israeli. "We have full confidence in his leadership abilities to steer the company to successful completion of clinical development, regulatory approval and commercialization of our technology."
"BrainStorm's remarkable achievements to date demonstrate the company's excellent scientific team and the huge potential of their technology," commented Mr. Natanson. "I am excited to join the company at this critical stage, as its breakthrough stem cell candidate gets closer to becoming a part of tomorrow's medicine."
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.