Updating, BrainStorm Cell Therapeutics (OTCBB: BCLI)
BCLI.OB announced that it has entered into agreements with 3 investors with each investing $500 K for a total of investment of $1.5 M with issuance to each of 3 investors, 2 M shares of stock based on the 30 day average share price as of 2/11/10 of $0.25 per share and 1 M warrants with an exercise price of $0.50 per share for a total issuance of 6 M shares and 3 M warrants. These investments provide BCLI.OB with the necessary funds to conduct its upcoming Phase I/II ALS clinical trial with a collaborative agreement with Hadassah Medical Center to conduct its ALS clinical trials at the Hadassah Ein Kerem Hospital, Israel.
Reiterating from our 2/10/10 blog, BLCI.OB’s might be able to demonstrate creation of neurotrophic-factor secreting cells (glial cells) from in-vitro differentiated bone marrow cells that produce neurotrophic factors (NTF) including GDNF, BDNF, NGF and IGF-1.
- Instead of using embryonic stem cells, BCLI.OB uses adult stem cells, differentiates and then transplants them into the patient,
- The adult stem cells that are used to create healthy NTF cells produce and secrete neurotrophic factors, which are essential for the survival and outgrowth of neurons may become beneficial in neurodegenerative diseases,
- BCLI.OB uses cells taken from the actual patient which greatly reduces the chance of rejection. Their focus is to change the environment of the cells at the site of damage in the body,
- Upon completion of the pre-clinical development, a trial application is anticipated toward the end of 2010.
- BrainStorm is performing its 1st clinical trials in ALS with types of modified stem cells.