– USA, NY – BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of cell technologies for neurodegenerative diseases, today announced the appointment of Jacob Frenkel, Ph.D., as Chairman of the Board of Directors alongside Dr. Irit Arbel, one of BrainStorm’s co-founders, as Vice-Chair of the Board, and the addition of Sankesh Abbhi, a successful healthcare entrepreneur, executive and investor, to the Board of Directors. Mr. Abbhi will replace Mr. Chen Schor on the Board.
Prof. Frenkel, a world-renowned economist and former Governor of the Bank of Israel, will join the Company at its most significant turning point as it completes its phase 3 ALS clinical trial and submits clinical trial data for regulatory review and publication later this year. Prof. Frenkel will support the Company’s global business development and partnership expansion.
“Prof. Frenkel is joining our Board as Chairman at a crucial time where his leadership will add tremendous value,” said Chaim Lebovits, President and CEO.
“Prof. Frenkel served on BrainStorm’s advisory board about a decade ago. Since that time, BrainStorm has demonstrated its ability to develop and deliver innovative stem cell treatments through the highly challenging path from the pre-clinical laboratory to phase 3 trials. Mr. Abbhi feels passionately about improving the lives of patients and families affected by neurodegenerative disease. His previously announced strategic financial support combined with his leadership as Director will help BrainStorm pursuing its mission to bring life-changing treatments to those impacted by ALS and MS. We are grateful to Dr. Arbel who will continue to serve as Vice-Chair of the Board. We also thank Mr. Chen Schor for his decade long service and significant contribution to BrainStorm.” he added.
About Pr Jacob Frenkel
Jacob Frenkel, Ph.D., currently serves as Chairman of the Board of Trustees of the Group of Thirty, a private, nonprofit, consultative group on international economic and monetary affairs. During 2001-11 he served as Chairman and chief executive officer of the G-30. Previously, Prof. Frenkel served as Chairman of JPMorgan Chase International, from 2009 to 2020, as Vice Chairman of American International Group, Inc., and as Chairman of Merrill Lynch International.
Between 1991 and 2000 he served two terms as the Governor of the Bank of Israel, Previously he was the Economic Counselor and Director of Research at the International Monetary Fund, and also served on the faculty of the University of Chicago, where he held the position of the David Rockefeller Professor of International Economics as well as serving as Editor of the Journal of Political Economy.
Prof. Frenkel is a Fellow of the Econometric Society, a lifetime Fellow of the International Economic Association, a Foreign Honorary Member of the American Academy of Arts and Sciences, a member of the Boards of Directors of the National Bureau of Economic Research, the Institute for National Security Studies, the Japan Society, and the Peterson Institute for International Economics. He is a member of the Competitive Markets Advisory Council of the CME Group, the Boards of the Aspen Institute Italia and The Council for the US and Italy, a member emeritus of Temasek International Panel, a Senior Advisor of Temasek International Advisors, a member of the G20 Eminent Persons Group on Global Financial Governance, a member of the International Advisory Council of China Development Bank, and a Global Member of the Trilateral Commission.
Prof. Frenkel is a Laureate of the 2002 Israel Prize in Economics, a recipient of the Scopus Award from the Hebrew University, the Hugo Ramniceanu Prize for Economics from the Tel-Aviv University, the Czech Republic’s Karel English Prize in Economics, the “Order de Mayo al Merito” decoration from the Government of Argentina, the “Order of Merit” decoration from the Republic of Italy, and the YIVO Lifetime Achievement Award.
He serves as Chairman of the Board of Governors of Tel Aviv University, where he is also Chairman of the Frenkel-Zuckerman Institute for Global Economics. He previously served as Chairman of the Board of Governors of the Inter-American Development Bank, as Vice Chairman of the Board of Governors of the European Bank for Reconstruction and Development, as Governor of the IMF and Alternate Governor of the World Bank for Israel, a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, and a member of the Board of Trustees of the New York Economic Club.
Prof. Frenkel said, “I am honored to join BrainStorm as Chairman of the Board of Directors. The Company has advanced the investigational therapy NurOwn into a fully enrolled phase 3 clinical trial for ALS — a critical juncture in its history.” He added, “Chaim Lebovits has built an impressive team and has led the Company with great commitment and inspiration. I look forward to joining by leading the Board and supporting BrainStorm’s global expansion and partnership strategy.”
Prof. Frenkel is the author of numerous books and articles in the fields of International Economics and Macroeconomics and is a recipient of several Honorary Doctoral degrees and other decorations and awards. He earned a B.A. in economics and political science at the Hebrew University of Jerusalem and an M.A. and Ph.D. in economics at the University of Chicago.
About Sankesh Abbhi
Sankesh Abbhi is the President and CEO of ArisGlobal, a leading provider of cloud-based, end-to-end, drug development technology solutions for over 250 of the world’s leading Life Science’s companies, CROs and government health authorities. Mr. Abbhi, also advises Abbhi Capital, his wholly-owned family office, in its corporate investments in transformative life sciences, healthcare and technology companies. Prior to leading ArisGlobal and Abbhi Capital, Mr. Abbhi founded Synowledge, a knowledge process outsourcing company which he grew to over 1000 global employees and eventually sold to BioClinica. Mr. Abbhi graduated with a BA in Economics from Columbia University.
About BrainStorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics Inc. is a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. The Company holds the rights to clinical development and commercialization of the NurOwn Cellular Therapeutic Technology Platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing agreement as well as through its own patents, patent applications and proprietary know-how. Autologous MSC-NTF cells have received Orphan Drug status designation from the U.S. Food and Drug Administration and the European Medicines Agency in ALS. BrainStorm has fully enrolled the Phase 3 pivotal trial in ALS, investigating repeat-administration of autologous MSC-NTF cells at six sites in the U.S., supported by a grant from the California Institute for Regenerative Medicine. The pivotal study is intended to support a BLA filing for U.S. FDA approval of autologous MSC-NTF cells in ALS. BrainStorm received U.S. FDA clearance to initiate a Phase 2 open-label multi-center trial of repeat intrathecal dosing of MSC-NTF cells in Progressive Multiple Sclerosis in December 2018, and has been enrolling clinical trial participants since March 2019.
For more information: https://brainstorm-cell.com
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