BCLI - Brainstorm realigns resources to support NurOwn development

2023-10-24 08:17:04 ET

• BrainStorm Cell Therapeutics ( NASDAQ: BCLI ) on Tuesday announced a strategic realignment to support accelerated development of NurOwn for the treatment of amyotrophic lateral sclerosis (ALS).
• BrainStorm ( BCLI ) holds the rights to clinical development and commercialization of the NurOwn technology platform platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing deal.
• This realignment is designed to support the company plans to conduct a registrational Phase 3b U.S. clinical trial for NurOwn in ALS and publish data from NurOwn's Phase 3 clinical trial on biomarkers, long-term safety and survival, and the expanded access program.
• The biotechnology firm is exploring various options to raise capital to fund the Phase 3b study and ALS priorities. Plans also call for streamlining clean room operations and a targeted reduction in headcount of around 30%.
• Additionally, EVP and chief medical officer Kirk Taylor will be stepping down while certain other positions outside the current prioritized scope will be eliminated. Overall, resource consumption will be reduced by 50% to accelerate ALS development.

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