Message #10 From:
Stock News Bot Date: August 28, 2006 05:30:00 AM
BCLI News BrainStorm Cell Therapeutics Receives Upgrade by Respected Research Firm
NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)--Aug. 28, 2006--BrainStorm Cell Therapeutics (OTC BB: BCLI) is pleased to announce a well-respected firm, TRI-STATE Capital (TSC), has upgraded their equity rating on BrainStorm with a twelve month target price of $1.20. TSC is noted for their work with, account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://www.otclive.com
Yoram Drucker, Principal Executive Officer of BrainStorm states, "We are honored to have a quality independent research firm review our overall operations, progress and to provide the resulting upgrade in our stock. This offers further confirmation to our shareholders that our company is headed in the right direction." Mr. Drucker further stated, "Developing novel procedure for adult stem cells differentiation to neurotrophic factors producing cells is a major step forward. Transplantation of these cells in animal models have been shown to protect and restore neurons and therefore hold great promise for the treatment of many neurodegenerative diseases, including Parkinson's disease, Amyotrophic Lateral Sclerosis (ALS) Multiple Sclerosis (MS), Spinal Cord Injury (SCI) and even Alzheimer's disease."
BrainStorm does not endorse or adopt any third-party analyst statements or forecasts and assumes no responsibility for the contents or opinions represented in them, nor for the updating of any information contained in any analyst report. BrainStorm has never been and is not currently an investment banking client of TSC or any of its affiliates.
BrainStorm Cell Therapeutics Inc. is an emerging company developing neural-like stem cell therapeutic products, NurOwn(TM), based on autologous bone marrow-derived stromal cells, for treatment of neurodegenerative diseases. NurOwn(TM) patent pending technology is based on discoveries made by the 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, enabling 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 initial focus is on developing treatments for Parkinson's disease.
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, among others, risks associated with BrainStorm Cell Therapeutics Inc.'s limited operating history, history of losses and expectation to incur losses for the foreseeable future; limited cash resources and its need to raise additional capital to execute on its business plan and continue operations; transition issues related to the departure of its CEO; dependence on its license to Ramot's technology and ability to meet its funding and payment obligations included in such license agreement; ability, together with its licensor, to adequately protect the NurOwn(TM) technology; dependence on key executives and on its scientific consultants; ability to identify, negotiate and successfully implement strategic partnering relationships; ability to complete clinical trials successfully and to obtain required regulatory approvals; competition with companies, some of which have greater resources and experience in developing and obtaining regulatory approval for treatments in BrainStorm Cell Therapeutics Inc.'s market; the limited public trading market for BrainStorm Cell Therapeutics Inc.'s stock which may never develop into an active market; and other factors detailed in BrainStorm Cell Therapeutics Inc.'s annual report on Form 10-KSB, quarterly reports on Form 10-QSB, current reports on Form 8-K and other filings with the Securities and Exchange Commission available at http://www.sec.gov/ or by request to the Company. The Company does not undertake any obligation to update forward-looking statements made by us.
