Strategic Financial Consultant Haim Nissenson Joins BrainStorm Cell Therapeutics, Inc

Business Wire, May 15, 2006

NEW YORK & TEL AVIV, Israel -- BrainStorm Cell Therapeutics (OTCBB:BCLI), the developer of NurOwn(TM) bone marrow-derived-stem cell therapeutic products for the treatment of neurodegenerative diseases, announced today that the company has appointed Haim Nissenson as strategic financial consultant. E[acute accent]"We are proud to have a person with such vast business experience and extensive international connections join BrainStorm. We are certain that he will make an important contribution to enhancing our financial base and developing strategies for our company as we move forward into the clinical trial arena," said Yoram Drucker, Chief Operations Officer and Principal Executive of BrainStorm. E[acute accent]Haim Nissenson has successfully assisted many companies in their growth, positioning and financing. As the Principal of Dionysos Investments Limited, Haim played a pivotal consulting role for leading companies including RadVision (NASDAQ:RVSN), OTI (NASDAQ: OTIV), Xfone (AMEX: XFN) and Clickleaders. While working with these companies, he stewarded fund raising, including IPOs in the US, and helped the companies to significantly improve their revenues and market valuations. Prior to founding Dionysos, Haim served as CEO of Rada, a NASDAQ public company in the Defense Electronics-Aerospace market, where he gained vast experience in the US, European and Israeli financial markets. Prior to that, Haim was Chief economist and strategic planning manager of Teva Pharmaceuticals, Ltd. (NASDAQ: TEVA). Haim holds a BA in Economics and Business from the Tel Aviv University where he also studied for an MBA. E[acute accent]"I am delighted to join Brainstorm and will devote my experience, knowledge and connections to helping the team complete the development process and introduce a cure for Parkinson's and other devastating neurological diseases to the market," said Haim. "The powerful combination of our experienced business managers and financial team will give our scientists and developers the support they need and help secure the Company's future success." E[acute accent]Brainstorm has successfully used adult bone marrow stem cells to produce dopaminergic-like cells, which have been shown to be capable of dopamine secretion and to benefit animal models of Parkinson's disease. E[acute accent]Brainstorm also has used its bone marrow stem cell technology to produce astrocyte-like cells with the capacity of producing glial-derived neurotrophic factor (GDNF), the most potent neurotrophic factor known for dopaminergic neurons. Transplanted dopamine- and GDNF producing-cells, acting on their own or in combination, hold great promise for replacement and preservation of neurons in Parkinson's and other neurodegenerative diseases.

E[acute accent]About BrainStorm Cell Therapeutics Inc.

E[acute accent]BrainStorm Cell Therapeutics Inc. is an emerging company developing neural-like stem cell therapeutic products, NurOwn(TM), based on autologous bone marrow derived stromal cells, for treatment of neurodegenerative diseases. NurOwn(TM) patent pending technology is based on discoveries made by the team of prominent neurologist Prof. Eldad Melamed, Head of Neurology at Rabin Medical Center, and expert cell biologist Dr. Daniel Offen, at the Felsenstein Medical Research Center of Tel-Aviv University, enabling the differentiation of bone marrow-derived stem cells into functional neurons and astrocytes, as demonstrated in animal models. The company holds rights to develop and commercialize the technology through an exclusive, worldwide licensing agreement with Ramot at Tel Aviv University Ltd., the technology transfer company of Tel Aviv University. The company's initial focus is on developing treatments for Parkinson's Disease.

E[acute accent]About Stem Cell Therapy

E[acute accent]Stem cells are non-specialized cells with a remarkable potential for both self-renewal and differentiation into cell types with a specialized function, such as muscle, blood or brain cells. Stem cells may be sourced from fetal or embryonic tissue or from adult tissue reservoirs such as bone marrow. Use of embryonic stem cells has become the center of significant ethical and moral debate. In contrast, use of adult stem cells does not face the same moral or legal controversy. Stem cell therapy aims to "cure" disease by replacing the 'diseased' cells with 'healthy' cells derived from stem cells. This approach has the potential to revolutionize medicine and, if successful, the implied commercial opportunities are great. Currently, both embryonic stem cells (ESC) and adult stem cells (ASC) are being explored as the potential basis for multiple cell therapy products.

E[acute accent]Safe Harbor Statement

E[acute accent]Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, risks associated with BrainStorm Cell Therapeutics Inc.'s limited operating history, history of losses and expectation to incur losses for the foreseeable future; limited cash resources and its need to raise additional capital to execute on its business plan and continue operations; transition issues related to the departure of its CEO; dependence on its license to Ramot's technology and ability to meet its funding and payment obligations included in such license agreement; ability, together with its licensor, to adequately protect the NurOwn(TM) technology; dependence on key executives and on its scientific consultants; ability to identify, negotiate and successfully implement strategic partnering relationships; ability to complete clinical trials successfully and to obtain required regulatory approvals; competition with companies, some of which have greater resources and experience in developing and obtaining regulatory approval for treatments in BrainStorm Cell Therapeutics Inc.'s market; the limited public trading market for BrainStorm Cell Therapeutics Inc.'s stock which may never develop into an active market; and other factors detailed in BrainStorm Cell Therapeutics Inc.'s annual report on Form 10-KSB, quarterly reports on Form 10-QSB, current reports on Form 8-K and other filings with the Securities and Exchange Commission available at http://www.sec.gov/ or by request to the Company. The Company does not undertake any obligation to update forward-looking statements made by us.