NEW YORK and PETACH TIKVAH, Israel, Sept. 04, 2018 (GLOBE NEWSWIRE) -- BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced that is has appointed Arturo O. Araya, M.A., M.B.A., as Chief Commercial Officer, effective immediately. Mr. Araya brings to the BrainStorm team nearly two decades of global pharmaceutical commercialization, marketing, and general management experience, including as Global Head of Commercial of Novartis' Cell and Gene Therapies Unit. Mr. Araya has served on BrainStorm’s Board of Directors since February 2017. He will be responsible for leading the Company’s marketing, sales and commercial operations as the Company prepares for a potential launch of NurOwn® in amyotrophic lateral sclerosis (ALS).
“Since joining our Board last year, Arturo’s guidance and insights have proven invaluable to the BrainStorm team as we continue to advance NurOwn® through late-stage clinical development as a potentially ground-breaking treatment for ALS,” said Chaim Lebovits, President and Chief Executive Officer of BrainStorm. “With his vast experience and proven track record in global pharmaceutical commercialization, particularly in the area of complex cell and gene therapies, I am delighted that Arturo has joined our senior team.”
“I am honored to join the BrainStorm leadership team at this important time in the Company’s evolution,” said Mr. Araya. “There exists a significant need for innovative therapies to treat debilitating neurodegenerative diseases. I have been working closely with management and my fellow board members for the past 18 months, and I believe the Company’s NurOwn® technology, which has shown promising results in the clinic, has the potential to become an effective treatment for ALS where no effective therapies currently exist.”
Mr. Araya was employed at Novartis Pharmaceuticals from 2002 to 2016, where he served in various roles of increasing responsibility, ultimately as Global Head of Commercial of the company’s Cell and Gene Therapies Unit. Prior to joining Novartis, he served in general management, marketing and business development roles at Bristol-Myers Squibb. Mr. Araya earned an M.B.A. from the University of Michigan, an M.A. in Political Science and a B.S. in Civil Engineering, both from the University of Connecticut.
About BrainStorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics Inc. is a biotechnology company engaged in the development of first-of-its-kind adult stem cell therapies derived from autologous bone marrow cells for the treatment of neurodegenerative diseases. The Company holds the rights to develop and commercialize its NurOwn® technology through an exclusive, worldwide licensing agreement with Ramot, the technology transfer company of Tel Aviv University. NurOwn® has been administered to over 70 patients with ALS in clinical trials conducted in the United States and Israel. In a randomized, double blind, placebo-controlled clinical trial conducted in the U. S., a clinically meaningful benefit was demonstrated by higher response to NurOwn® compared with placebo. For more information, visit the company's website at www.brainstorm-cell.com.
