Monday, June 16, 2008

Israeli Government Invests in the Progress Achieved by Adult Stem Cell Research

"In the past month, we have shown proof of concept of our treatment for Parkinson's disease. We are doing serious and important scientific work, and I'm pleased that the Israeli Government continues to acknowledge this, by funding us for the second year.With G-d's help, this grant will enable us to continue our research in order to translate the proof of concept we have into clinical therapies."

Those comments come from Rami Efrati, CEO of BrainStorm Cell Therapeutics Inc., an emerging company developing adult stem cell therapeutic products, derived from autologous (self) bone marrow cells, for the treatment of neurodegenerative diseases. Efrati (photo at left) was responding to the news that the company had been awarded a grant for the second consecutive year from Israel's prestigious Chief Scientist Office (CSO). Last year the grant amounted to $340,000; this year, the company's progress was noted as the CSO increased the grant to $870,000 over the remainder of the current fiscal year to fund the continuing development of treatments for ALS and Parkinson's disease.