BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading
developer of adult stem cell therapies for neurodegenerative
diseases, announced today that Preetam Shah, Ph.D., M.B.A., has
been appointed Chief Financial Officer effective September 6,
2019.
Dr. Shah is an experienced healthcare finance
professional with over 18 years of diverse leadership experience in
investment banking and venture capital, healthcare financial
consulting, business development, sales and marketing, and
scientific research.
Prior to his appointment as BrainStorm’s CFO,
Dr. Shah served as Director of Healthcare Investment Banking at
Barclays Capital Plc., where he focused on Life Sciences and
Medical Device sectors, and was actively involved in closing more
than $3.5 billion in M&A and equity transactions, and over
$20bn in debt financings for publicly traded companies. Prior
to his role at Barclays, Dr. Shah served as Vice President of
Healthcare Investment Banking at Canaccord Genuity Inc., from July
2013 to May 2016, where he played an integral role in executing
~$1.5 billion in M&A transactions and equity financings for
small and mid-cap publicly traded companies in the Medical Device
and Diagnostics sectors.
Dr. Shah founded and served as Managing Director
of Saisarva LLC., a healthcare financial consulting firm from
January 2010 to June 2013 where he completed various engagements
for healthcare-focused private equity firms, hedge funds, and
global pharmaceutical companies. In this capacity, Dr. Shah has
negotiated several licensing deals with pharmaceutical companies.
From October 2006 to December 2009, Dr. Shah served as Vice
President, U.S. Operations and Investments at Reliance Capital USA
Ventures LLC., an affiliate of Reliance ADA Group Companies, to
head up the Company’s investment operations, sales and business
development activities across the U.S.
Dr. Shah completed his post-doctoral fellowship
in Infectious Diseases from Stanford University School of Medicine.
He holds a Ph.D. in Microbiology from the University of Mississippi
Medical Center and a M.B.A. in Finance from the Wharton School,
University of Pennsylvania.
“I am very pleased to announce that Preetam
Shah, Ph.D., M.B.A. has joined the Senior Management Team of
BrainStorm at this transformative time for the Company,” commented
Chaim Lebovits, President and CEO of BrainStorm Cell Therapeutics.
He added, “After meeting with a wide range of candidates, we were
more than impressed with Preetam’s unique background across
finance, investment banking, and deal-making, his superior academic
credentials and knowledge of the Life Sciences sector, and his
experience working in the critical healthcare investment markets of
San Francisco, Boston, and New York City, which will well serve
BrainStorm’s expanding Investor Relations program that will be
rolled out over the next few months. As we advance key company
milestones such as completing enrollment of our ALS Phase 3
clinical trial and advance our Phase 2 Progressive MS trial,
Preetam will make an important contribution to advance BrainStorm’s
corporate and business agenda. Speaking for everyone at BrainStorm,
we are delighted Preetam has agreed to serve as our Chief Financial
Officer. Additionally, Dr. Shah will be based in the Company’s New
York City headquarters to optimize his interactions with the
investment community. With Dr. Shah in place, the Company
continues to expand US senior management, while preclinical R&D
will remain in Israel.”
Dr. Shah stated, “Being appointed as the Chief
Financial Officer at BrainStorm is an exciting, game-changing,
milestone in my career. During the extensive interview
process, I learned a great deal about BrainStorm’s superior science
and the potential to be the first-in-class autologous stem cell
therapy for various neurogenerative diseases, the passion of every
employee, and most of all, I witnessed the commitment of a small
but very dedicated team who are working around the clock to fulfill
the unmet medical needs for patients with devastating and
heart-breaking neurodegenerative diseases. I look forward to
working with Chaim and Ralph and others to bring the BrainStorm
story to Wall Street, Silicon Valley, Boston, and anywhere else the
Company’s story needs to be told. The Company has an incredible
future, and I look forward to being an integral part of the
BrainStorm team and story.”
About BrainStorm Cell
Therapeutics Inc. BrainStorm Cell
Therapeutics Inc. is a leading developer of innovative autologous
adult stem cell therapeutics for debilitating neurodegenerative
diseases. The Company holds the rights to clinical development and
commercialization of the NurOwn® technology platform used to
produce autologous MSC-NTF cells through an exclusive, worldwide
licensing agreement. Autologous MSC-NTF cells have received Orphan
Drug status designation from the U.S. Food and Drug Administration
(U.S. FDA) and the European Medicines Agency (EMA) in ALS.
BrainStorm is currently enrolling a Phase 3 pivotal trial in ALS
(NCT03280056), investigating repeat-administration of autologous
MSC-NTF cells at six sites in the U.S., supported by a grant from
the California Institute for Regenerative Medicine (CIRM
CLIN2-0989). The pivotal study is intended to support a filing for
U.S. FDA approval of autologous MSC-NTF cells in ALS. BrainStorm
also recently received U.S. FDA clearance to initiate a Phase 2
open-label multicenter trial in progressive Multiple Sclerosis. The
Phase 2 study of autologous MSC-NTF cells in patients with
progressive MS (NCT03799718) started enrollment in March 2019. For
more information, visit the company's website at
www.brainstorm-cell.com
Safe-Harbor
Statements
Statements in this announcement other than historical data
and information, including statements regarding future clinical
trial enrollment and data, 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. Terms and phrases such as "may",
"should", "would", "could", "will", "expect", "likely", "believe",
"plan", "estimate", "predict", "potential", and similar terms and
phrases are intended to identify these forward-looking statements.
The potential risks and uncertainties include, without limitation,
BrainStorm’s need to raise additional capital, BrainStorm’s ability
to continue as a going concern, regulatory approval of BrainStorm’s
NurOwn® treatment candidate, the success of BrainStorm’s product
development programs and research, regulatory and personnel issues,
development of a global market for our services, the ability to
secure and maintain research institutions to conduct our clinical
trials, the ability to generate significant revenue, the ability of
BrainStorm’s NurOwn® treatment candidate to achieve broad
acceptance as a treatment option for ALS or other neurodegenerative
diseases, BrainStorm’s ability to manufacture and commercialize the
NurOwn® treatment candidate, obtaining patents that provide
meaningful protection, competition and market developments,
BrainStorm’s ability to protect our intellectual property from
infringement by third parties, heath reform legislation, demand for
our services, currency exchange rates and product liability claims
and litigation,; and other factors detailed in BrainStorm's annual
report on Form 10-K and quarterly reports on Form 10-Q available
at http://www.sec.gov. These factors should be considered
carefully, and readers should not place undue reliance on
BrainStorm's forward-looking statements. The forward-looking
statements contained in this press release are based on the
beliefs, expectations and opinions of management as of the date of
this press release. We do not assume any obligation to update
forward-looking statements to reflect actual results or assumptions
if circumstances or management's beliefs, expectations or opinions
should change, unless otherwise required by law. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements.
CONTACTS
Corporate: Uri
Yablonka Chief Business Officer BrainStorm Cell
Therapeutics Inc. Phone:
646-666-3188uri@brainstorm-cell.com
Media:Sean LeousWestwicke/ICR PR
Phone: +1.646.677.1839sean.leous@icrinc.com
Investors:Michael LevitanSolebury
TroutPhone: +1.646.378.2920mlevitan@soleburytrout.com
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