BrainStorm uses stem cell therapy to test primates in Parkinson's trial

By Elaine Rigoli

Tampa, Fla., Sept. 12 - BrainStorm Cell Therapeutics has entered into a letter of intent with the Center for Applied Medical Research of the University of Navarra in Spain to conduct safety trials in primates of the company's Parkinson's disease stem cell therapy.

The New York biotherapeutic company said it anticipates the primate studies will begin by the end of this year, with human clinical trials to follow as soon as possible.

All intellectual property rights resulting from the trials will belong exclusively to BrainStorm, according to a news release.

The Center for Applied Medical Research will receive royalty payments from the company based on net sales from any resulting Parkinson's disease treatments. The royalty agreement will include sales in Portugal, Spain, France and the Netherlands.

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