Brainstorm Cell Therapeutics Inc (OTCBB:BCLI) Tries To Manage True Turnaround

Posted In Healthcare - By Tim Stofflet On Friday, June 13th, 2014 With 0 Comments

Dallas, Texas 06/13/2014 (ustradevoice) – Brainstorm Cell Therapeutics Inc (OTCBB:BCLI) has its eyes focused on achieving real growth and that means making internal adjustments accordingly. As such, the company recently announced a new CEO appointment and also revealed the commencement of the enrollment of patients for a mid-stage trial of its experimental drug for amyotrophic lateral sclerosis (ALS).

The company recently unveiled Tony Fiorino as its Chief Executive Officer and supported the appointment with solid track record of the executive. The company said that Mr. Fiorino, 46, is veteran in matters biopharmaceutical development having served as a healthcare equity fund manager and consultant for various pharmaceutical companies.

The appointment of a new senior leader is part of a broader scheme in the company to pursue growth.

The new CEO Fiorino is therefore well versed with financial, clinical and regulatory issues in the pharmaceutical landscape. According to President Chaim Lebovits, President of Brainstorm Cell Therapeutics Inc (OTCBB:BCLI), the new CEO has a diverse understanding and successful track record in key aspects of biopharmaceutical development that will benefit the company especially now that it continues to advance its product pipeline.

FDA approval

Mr. Fiorino already has its job cut out for him at Brainstorm Cell Therapeutics Inc (OTCBB:BCLI). The company in April received FDA approval to start a mid-stage trial of its ALS experimental drug and recently enrolled the first patient under the Phase II trial. The trials for the drug are being conducted at the Mayo Clinic in Minnesota, Massachusetts General Hospital in Boston and University of Massachusetts Memorial Hospital in Worcester. The CEO is expected to oversee success trial and commercialization of the drug.

In his new assignment, Mr. Fiorino is starting from an advantaged position because interim results for the ALS treatment in a Phase IIa trial at a hospital in Jerusalem recently showed compelling performance of the drug. The interim trial focused on the safety and efficacy of the treatment and revealed consisted outcomes as the previous Phase I/II trial.

Taking the market into account

Perhaps a new CEO and development of a promising drug do not effectively drive the point home than stating that the treatment of ALS is a big market. The disease affects the spinal cord and the nerve cells and it is a widespread problem whose medical need is far from being met.

About the Author

- Tim Stofflet is a graduate of the City University of New York’s Graduate School of Journalism and earned her undergraduate degree from Pace University. Tim Stofflet has cemented his reputation as one of the foremost investigative reporters of his generation. Tim covers private equity and deal making. Tim has been recognized by several Awards from the Ohio and Indiana Associated Press for News Reporting / Press Club of Cleveland Award.

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