Today, leading developer of adult stem cell technologies BrainStorm Cell Therapeutics Inc. announced that it has secured the necessary funding to complete pre-clinical trials for treatments of ALS (Amyotrophic Lateral Sclerosis, also known as Lou Gehrig’s disease). The funding includes a prestigious grant from the Israeli government’s Office of the Chief Scientist (OCS) as well as a private investment.

CEO of BrainStorm, Rami Efrati, stated, “We are very gratified to receive these financial votes of confidence in our breakthrough stem cell technology. The new funding will enable us to complete our pre-clinical studies in ALS and meet our goal of beginning clinical studies in the coming year.”

The non-equity OCS grant totals $450,000 and marks the third consecutive year BrainStorm has received the award. Previously, the company received OCS grants totaling $798,000. BrainStorm’s royalty obligations to the OCS are capped at the amount of the grant received from the OCS.

Additionally, ACCBT

Brainstorm Cell Therapeutics Inc. today announced the election of Malcolm S. Taub to its Board of Directors. Malcolm Taub has had a distinguished career in the practice of law in New York City for 34 years. He has had a varied practice ranging from complex Federal Securities matters, fraud litigation to real estate litigation. He has been a leader in Latin American securities matters and has served as a consultant to the Argentinean Stock Exchange. His investment firm provided consultation, as well as advice with respect to bringing foreign private entities public in the United States.

Mr. Taub has been teaching law at several colleges and universities, including the New York University Real Estate Institute, Long Island University and Marymount College. He is presently a Trustee of The Gateway Schools of New York; which is devoted to educating learning disabled children, as well as the Devereux Glenholme School