NEW YORK - BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a developer of adult stem cell therapies for neurodegenerative diseases, announced that it has received a Notice of Allowance from the U.S. Patent & Trademark Office for its exosome technology patent application 16/981,757. The granted patent is expected to extend protection until April 10, 2039, with standard term adjustments.
The patent encompasses the composition and method of the company's proprietary exosomes, which are derived from mesenchymal stem cells that secrete neurotrophic factors (MSC-NTF). These exosomes are produced in bioreactors and carry neurotrophic factors such as LIF, VEGFA, and GDF-15, potentially including additional proteins or microRNA molecules. The exosomes express characteristic markers and are isolated using a unique process developed by BrainStorm.
President and CEO Chaim Lebovits stated, "This patent strengthens BrainStorm's intellectual property portfolio and highlights our commitment to advancing novel technologies for respiratory and neurodegenerative diseases." The company is also focusing on the development of NurOwn for ALS and is preparing to initiate a Phase 3b registrational trial.
BrainStorm's exosome technology utilizes nano-sized extracellular vesicles that facilitate intercellular communication and transport of biological materials. The exosomes' cargo can regulate various cellular processes, including immunomodulation and neuroprotection. They are considered to have therapeutic potential in a range of areas, such as neurodegenerative and respiratory diseases, due to their customizable cargo and capacity to target specific central nervous system pathways.
This announcement is based on a press release statement and does not constitute an endorsement of BrainStorm's claims. The information provided should be viewed in the context of the inherent uncertainties and risks associated with such forward-looking statements, particularly given the company's negative EBITDA of -$13.05 million in the last twelve months. For a complete analysis of BrainStorm's financial health and additional insights, including 10 key financial tips, visit InvestingPro.
This announcement is based on a press release statement and does not constitute an endorsement of BrainStorm's claims. The information provided should be viewed in the context of the inherent uncertainties and risks associated with such forward-looking statements, particularly given the company's negative EBITDA of -$13.05 million in the last twelve months. For a complete analysis of BrainStorm's financial health and additional insights, including 10 key financial tips, visit InvestingPro.
In other recent news, Brainstorm Cell Therapeutics (NASDAQ:BCLI) has experienced several significant developments. The company reported a net loss of $2.5 million in Q2 2024, but is ready for the Phase 3b trial of its ALS treatment, NurOwn. Maxim Group recently adjusted its price target for Brainstorm shares to $10 from $30, while maintaining a Buy rating, reflecting the company's progress with NurOwn.
The company has also implemented a one-for-fifteen reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. Additionally, Brainstorm expanded its stock incentive plans by 8 million shares and increased the number of authorized shares of common stock from 100 million to 250 million. These amendments are part of recent changes to the company's certificate of incorporation.
Brainstorm is actively seeking non-dilutive funding options and is in talks with potential commercial manufacturing partners. Additionally, Brightman Almagor Zohar & Co., part of the Deloitte Global Network, was ratified by stockholders as the independent registered public accounting firm for the fiscal year ending December 31, 2024. These developments reflect Brainstorm's ongoing efforts to align its corporate structure and incentive mechanisms with its growth strategy.
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