BrainStorm Cell Therapeutics Inc., the salient developer of adult stem cell technologies and therapeutics in the international continuum has announced here today in a gleeful mode of its accomplishment of a restructured research and license agreement with Ramot at Tel Aviv University. It has also been posited in this esteem that the agreement has been done in respect of payment obligations for its technology license and the Double U Fund, also a loaner to the Company, has also come to an agreement over funds that are owed to it by BrainStorm. In addition, the waiver and release from Ramot do make it certain that the technology license of the Company is firmly held by the BrainStorm, and the resolution to the Double U Fund debt obligation improves the fiscal order of the BrainStorm at large.

BrainStorm Cell Therapeutics Inc. is an up-and-coming company involved thoroughly in the development of adult stem cell therapeutic products that in its turn are derived from autologous (self) bone marrow cells, for the treatment of neurodegenerative diseases. According to the Company standard, the NurOwn(TM) patent pending technology rests on the basis of 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 moreover consents to for the demarcation of bone marrow-derived stem cells into functional neurons and astrocytes, as demonstrated in animal models. From its commencement the primary concentration of the Company has been on Parkinson's disease, in spite of the fact that its technology has sufficient potential regarding the treatment of several others diseases that includes MS, ALS, Huntington's disease and stroke.  

While speaking on the occasion, the Chief Financial Officer of the BrainStorm David Stolick, said, "In the last month, BrainStorm has made significant progress and improvements to its financial condition." "From electing Chaim Lebovits as president, Moshe Lion to the Board of Directors to obtaining a funding commitment for $5 million to winning a grant from Israel's prestigious Chief Scientist Office and now by resolving and restructuring payment and debt obligations that eliminate some significant risks BrainStorm was facing, the business is now being properly funded and is well on its way toward achieving its goals.   We have been successful in eliminating risks of the Company allowing our team to now focus its energies and resources exclusively on developing and improving our technologies and entering into strategic business partnerships," he concluded.