Liat Sossover Joins BrainStorm Cell Therapeutics as CFO
NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--Jun 22, 2010 - BrainStorm Cell Therapeutics Inc. (OTCBB: BCLI), a leading developer of adult stem cell technologies and therapeutics, today announced that Liat Sossover, CPA is joining the Company as its Chief Financial Officer. Ms. Sossover began her career at Deloitte Touche Tohmatsu and has served in senior financial positions at a number of publicly traded and private companies with her last position as Vice President, Finance at ForeScout Technologies Inc.
Ms. Sossover is a Qualified CPA and a member of the Institute of Certified Public Accountants in Israel.
We are extremely pleased to have Ms. Sossover join the management team of the Company," stated Rami Efrati, CEO of BrainStorm. "We believe that her skills and experience will be a valuable asset in guiding the Company successfully through its upcoming financial needs when we begin our clinical trials at Hadassah Medical Center."
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 patent pending technology is based on discoveries made by the scientific team led by Professor Eldad Melamed, former Head of Neurology at Rabin Medical Center, and cell biologist Prof. 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 current focus is on ALS, although its technology has promise for treating several other diseases including MS, Huntington's disease and stroke.
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. The potential risks and uncertainties include 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. The Company does not undertake any obligation to update forward-looking statements made by us.
Contact: BrainStorm Cell Therapeutics
Rami Efrati, CEO, +972-3-9236384