Max
06-24-2002, 09:00 AM
Proneuron Biotechnologies and Craig Hospital Joint Experimental Program to
Treat Spinal Cord Injury Receives US$ 1 Million Funding From the BIRD
Foundation
DENVER & NESS-ZIONA, Israel--(BW HealthWire)--June 24, 2002--Proneuron
Biotechnologies Inc. and Craig Hospital of Denver Colorado today announced
the initiation of a joint program to continue the development of Proneuron's
macrophage cell therapy for the treatment of Spinal Cord Injuries (SCI).
The collaboration includes the establishment of the first Proneuron Cell
Center in the US, the initial step in implementing Proneuron's strategy to
establish and develop clinical and commercialization operations in the US.
This center will enable Proneuron (pending FDA approval) to start Phase 2
clinical trials and provide its proprietary autologous macrophage treatment
to patients in the US. Proneuron will establish additional Cell Centers
throughout the country within the next few years.
Proneuron reached its targeted patient cohort for its Phase 1 FDA-regulated
clinical trial in Israel and will soon start discussions with the FDA on the
next stages of clinical development of the therapy. Dr. Valentin Fulga,
Senior VP for Development at Proneuron commented: "We are honored to
collaborate with this excellent Institution and progress with our mutual goal
of developing an effective therapy for SCI. The relationship between Craig
and Proneuron has started two years ago and the hospital's outstanding
medical team has followed the clinical progress of some of our patients."
Craig is one of the world's leading centers for the treatment of spinal cord
injuries and traumatic brain injuries and Craig has treated over 23,000 SCI
patients, the largest number of any single US facility. The hospital is
designated by the National Institutes of Disability Rehabilitation & Research
as one of just 16 model spinal cord injury centers and 17 model traumatic
brain injury centers in the US. Additionally, Craig has been listed for
twelve consecutive years as one of the top US rehabilitation centers by U. S.
News and World Report magazine.
Dr. Daniel Lammertse, Medical Director of Craig Hospital in Colorado and
President of American Spinal Injury Association, has followed the clinical
progress of several of the phase one trial subjects. He has also expressed a
cautious optimism for the potential of this treatment: "The phase one results
suggest a positive treatment effect, giving clinicians hope that a new era of
intervention is at hand."
The BIRD Foundation has approved a $1,000,000 grant, for the project. BIRD,
Israel-US Binational Industrial Research and Development was established in
1977 under an agreement signed by the US and Israeli governments to promote
industrial R&D. It has since played a major role in fostering joint
industrial R&D between American and Israeli companies. The BIRD Foundation's
Board of Governors is comprised of representatives of both the US and Israeli
governments.
Dov Hershberg, Executive Director of the BIRD Foundation, said: "Following
our review which was assisted by experts from the US National Institute of
Standards and Technology (NIST) and from the Israeli Office of the Chief
Scientist, we have decided to approve the grant for this valuable project.
Proneuron and Craig Hospital are developing a groundbreaking therapy that
could potentially change the life of thousands of people around the world."
Denny O'Malley, Craig Hospital's CEO, added: "Craig Hospital is very pleased
to be part of this exciting collaboration with Proneuron. The promising
results of the Phase I Clinical trial gives us optimism that there is more to
be learned in this next phase of research which could ultimately benefit
people with spinal cord injuries. That is our goal -- to help this population
to whom we have devoted so much of our mission."
Nir Nimrodi, Proneuron's CEO stated, "Our collaboration with Craig Hospital
is one of the key elements in achieving our mission to become the leader in
the treatment of acute spinal cord injuries. This specific project, supported
by the BIRD Foundation, accelerates our ability to operate in the US."
About Proneuron: Proneuron Biotechnologies Inc., based in Ness-Ziona, Israel,
is a privately held biopharmaceutical company developing products for the
treatment of spinal cord injuries and other acute and chronic disorders of
the central nervous system based on proprietary technology for modulating the
interaction between the nervous and the immune systems. See
http://www.proneuron.com for more information including patient recruitment
details.
Information about the BIRD Foundation can be found at www.birdf.com (http://www.birdf.com)
Information about the Craig Hospital Foundation can be found at
www.craighospital.org (http://www.craighospital.org)
CONTACT:
Proneuron
Valentin Fulga, M.D., +972-8-940-9550
valentin@proneuron.com
or
Craig Hospital
Kenny Hosack, 303/789-8490
khosack@craighospital.org
SOURCE: Proneuron Biotechnologies Inc.
Treat Spinal Cord Injury Receives US$ 1 Million Funding From the BIRD
Foundation
DENVER & NESS-ZIONA, Israel--(BW HealthWire)--June 24, 2002--Proneuron
Biotechnologies Inc. and Craig Hospital of Denver Colorado today announced
the initiation of a joint program to continue the development of Proneuron's
macrophage cell therapy for the treatment of Spinal Cord Injuries (SCI).
The collaboration includes the establishment of the first Proneuron Cell
Center in the US, the initial step in implementing Proneuron's strategy to
establish and develop clinical and commercialization operations in the US.
This center will enable Proneuron (pending FDA approval) to start Phase 2
clinical trials and provide its proprietary autologous macrophage treatment
to patients in the US. Proneuron will establish additional Cell Centers
throughout the country within the next few years.
Proneuron reached its targeted patient cohort for its Phase 1 FDA-regulated
clinical trial in Israel and will soon start discussions with the FDA on the
next stages of clinical development of the therapy. Dr. Valentin Fulga,
Senior VP for Development at Proneuron commented: "We are honored to
collaborate with this excellent Institution and progress with our mutual goal
of developing an effective therapy for SCI. The relationship between Craig
and Proneuron has started two years ago and the hospital's outstanding
medical team has followed the clinical progress of some of our patients."
Craig is one of the world's leading centers for the treatment of spinal cord
injuries and traumatic brain injuries and Craig has treated over 23,000 SCI
patients, the largest number of any single US facility. The hospital is
designated by the National Institutes of Disability Rehabilitation & Research
as one of just 16 model spinal cord injury centers and 17 model traumatic
brain injury centers in the US. Additionally, Craig has been listed for
twelve consecutive years as one of the top US rehabilitation centers by U. S.
News and World Report magazine.
Dr. Daniel Lammertse, Medical Director of Craig Hospital in Colorado and
President of American Spinal Injury Association, has followed the clinical
progress of several of the phase one trial subjects. He has also expressed a
cautious optimism for the potential of this treatment: "The phase one results
suggest a positive treatment effect, giving clinicians hope that a new era of
intervention is at hand."
The BIRD Foundation has approved a $1,000,000 grant, for the project. BIRD,
Israel-US Binational Industrial Research and Development was established in
1977 under an agreement signed by the US and Israeli governments to promote
industrial R&D. It has since played a major role in fostering joint
industrial R&D between American and Israeli companies. The BIRD Foundation's
Board of Governors is comprised of representatives of both the US and Israeli
governments.
Dov Hershberg, Executive Director of the BIRD Foundation, said: "Following
our review which was assisted by experts from the US National Institute of
Standards and Technology (NIST) and from the Israeli Office of the Chief
Scientist, we have decided to approve the grant for this valuable project.
Proneuron and Craig Hospital are developing a groundbreaking therapy that
could potentially change the life of thousands of people around the world."
Denny O'Malley, Craig Hospital's CEO, added: "Craig Hospital is very pleased
to be part of this exciting collaboration with Proneuron. The promising
results of the Phase I Clinical trial gives us optimism that there is more to
be learned in this next phase of research which could ultimately benefit
people with spinal cord injuries. That is our goal -- to help this population
to whom we have devoted so much of our mission."
Nir Nimrodi, Proneuron's CEO stated, "Our collaboration with Craig Hospital
is one of the key elements in achieving our mission to become the leader in
the treatment of acute spinal cord injuries. This specific project, supported
by the BIRD Foundation, accelerates our ability to operate in the US."
About Proneuron: Proneuron Biotechnologies Inc., based in Ness-Ziona, Israel,
is a privately held biopharmaceutical company developing products for the
treatment of spinal cord injuries and other acute and chronic disorders of
the central nervous system based on proprietary technology for modulating the
interaction between the nervous and the immune systems. See
http://www.proneuron.com for more information including patient recruitment
details.
Information about the BIRD Foundation can be found at www.birdf.com (http://www.birdf.com)
Information about the Craig Hospital Foundation can be found at
www.craighospital.org (http://www.craighospital.org)
CONTACT:
Proneuron
Valentin Fulga, M.D., +972-8-940-9550
valentin@proneuron.com
or
Craig Hospital
Kenny Hosack, 303/789-8490
khosack@craighospital.org
SOURCE: Proneuron Biotechnologies Inc.