The noteworthy developer of adult stem cell technologies and therapeutics BrainStorm Cell Therapeutics Inc. announced here today of its recent accomplishment of objective in the form of being awarded a grant from the celebrated and highly acclaimed Chief Scientist Office (CSO) of Israel.  It has been confirmed by the Company in this regard, that it has received the first installment of the endowment in the amount of 594,544 Shekels amounting to $140,000 more or less.  In addition it has also been acknowledged that the grant was awarded to BrainStorm on the basis of its foremost and pioneering method regarding the treatment of the Parkinson's disease through the effectual utilization of the adult stem cells. 

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.  

Speaking on the latest achievement of the Company Chaim Lebovits, President of BrainStorm said,   "We are extremely grateful for the CSO's contribution to our research and cause."  "This generous offering will, with g-d's help, provide additional funding for BrainStorm's successful development of long-term and permanent remedies for life-threatening neurodegenerative disorders such as Parkinson's, ALS and MS," he added. On the other hand the Chief Technology Advisor of BrainStorm Dr. Avinoam Kadouri said, "I am honored to be a part of this incredible groundbreaking effort.  I know the significance and promise involved in BrainStorm's research, and therefore can appreciate first-hand the value and assistance that the government's grant will provide."

It has also been learnt that to the established norms the conferred funding gets released based as part of a budget in a span of 12 months. It is estimated to total to the extent of $500,000 toward the research and development methodology of the BrainStorm when all the payments have been received.