Attached files
| file | filename |
|---|---|
| 8-K - PALISADE BIO, INC. | v211562_8-k.htm |
Exhibit
99.01
Contact:
|
Meg
McElroy, Shareholder Relations
|
301.366.4960
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|
Deanne
Eagle, Media Relations
|
917.837.5866
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|
Susan
Roush, Investor Relations
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818.222.8330
|
FORMER
CAPITAL ONE DIRECTOR AND BUSINESS LEADER
STANLEY
I. WESTREICH JOINS NEURALSTEM’S BOARD
ROCKVILLE, Maryland – February 15,
2011 – Neuralstem, Inc. (NYSE Amex: CUR) announces the appointment of
business leader Stanley I. Westreich to its Board of Directors. With his
appointment the company’s board is now comprised of a majority of independent
directors.
Dr. Karl
Johe, PhD, Chairman of Neuralstem’s Board of Directors and the Company’s Chief
Science Officer, welcomed Mr. Westreich on behalf of the shareholders stating
that, “Mr. Westreich is a welcome addition to our Board of Directors. His wealth
of experience as a business and finance leader will be an excellent resource to
our company.”
“Neuralstem
is an emerging leader in the field of regenerative medicine,” said Mr.
Westreich. “I look forward to working with this great organization as it
grows.”
Richard
Garr, Neuralstem’s CEO and President, said, “We are honored to have Mr.Westreich
on our board. This is a crucial time for Neuralstem as we transition through
development stage to commercialization for both our cell therapy and small
molecule programs. His insight and experience will be a welcome
addition.”
Mr.
Westreich served as Director and Member of the Finance & Trust Oversight
Committee of Capital One Financial Corp. and was a Director of Capital One Bank
(USA) from 1994 through 2010. Mr. Westreich also served as Chairman of its
Compensation Committee from March 1995 through April 2005, and continued as
Member until 2009. Mr. Westreich founded and was president of Westfield Realty,
Inc., a Washington, D.C. area commercial real estate finance, development and
construction company, from 1965 to 2005. He holds a Juris Doctorate from New
York University and a Bachelors of Business Administration from The University
of Miami.
About
Neuralstem
Neuralstem's
patented technology enables the ability to produce neural stem cells of the
human brain and spinal cord in commercial quantities, and the ability to control
the differentiation of these cells constitutively into mature, physiologically
relevant human neurons and glia. Neuralstem is in a FDA-approved Phase I safety
clinical trial for amyotrophic lateral sclerosis (ALS), often referred to as Lou
Gehrig's disease and has been awarded orphan status designation by the
FDA.
In
addition to ALS, the company is also targeting major central nervous system
diseases, including traumatic spinal cord injury, ischemic spastic paraplegia,
and Huntington's disease. The company has also submitted an IND (Investigational
New Drug) application to the FDA for a Phase I safety trial in chronic spinal
cord injury.
Neuralstem
also has the ability to generate stable human neural stem cell lines suitable
for the systematic screening of large chemical libraries. Through this
proprietary screening technology, Neuralstem has discovered and patented
compounds that may stimulate the brain's capacity to generate new neurons,
possibly reversing the pathologies of some central nervous system
conditions. The company has been approved to commence a Phase Ia
safety trial evaluating NSI-189, its first small molecule compound, for the
treatment of major depression. Additional indications could include
schizophrenia, Alzheimer's disease, traumatic brain injury, posttraumatic stress
syndrome, and stroke.
For more
information, please go to www.neuralstem.com.
Cautionary Statement Regarding
Forward Looking Information
This news
release may contain forward-looking statements made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements in this press
release regarding potential applications of Neuralstem's technologies constitute
forward-looking statements that involve risks and uncertainties, including,
without limitation, risks inherent in the development and commercialization of
potential products, uncertainty of clinical trial results or regulatory
approvals or clearances, need for future capital, dependence upon collaborators
and maintenance of our intellectual property rights. Actual results may differ
materially from the results anticipated in these forward-looking statements.
Additional information on potential factors that could affect our results and
other risks and uncertainties are detailed from time to time in Neuralstem's
periodic reports, including the annual report on Form 10-K for the year ended
December 31, 2009, and in its quarterly report on Form 10-Q for the period ended
September 30, 2010.
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