BrainCells Inc. Names Seth D. Goldblum VP, Business Development

SAN DIEGO, May 30 /PRNewswire/ -- BrainCells Inc. (BCI) today announced the addition of Seth D. Goldblum as vice president, business development.

Goldblum, 42, is responsible for evaluating in-licensing and collaboration opportunities for compounds that promote neurogenesis -- the process by which pre-existing stem cells in the adult human brain produce new brain tissue, including neurons -- for central nervous system (CNS) indications. Goldblum reports to James A. Schoeneck, BCI's CEO.

"Our strategy is to in-license neurogenic compounds with good safety profiles that did not meet efficacy endpoints and develop them for CNS indications," said Schoeneck. "This approach allows us to enter the drug development cycle at a later stage, saving time and money while advancing products toward commercialization. Seth's expertise in establishing and expanding collaborations will help us realize the full potential of our neurogenesis technology by driving these activities and looking for new opportunities."

Prior to joining BCI, Goldblum was head of business development for Senomyx Inc. There, he was responsible for evaluating, pursuing and implementing new business development opportunities for the company. Goldblum was an integral part of the leadership team that added several market-leading collaborative partners for the company.

Before this, he served in executive positions with Vical Inc., where he leveraged the company's technology to establish new and expand existing collaborations with biotechnology and pharmaceutical companies, including Merck & Co., Aventis Pharma, and Centocor Inc.

Earlier in his career, Goldblum held positions of increasing responsibility in engineering, finance, business development and management at Eli Lilly & Co. He received a master's degree in business administration, with a concentration in finance and operations management, from The Kelley School of Business at Indiana University, a master's degree in chemical engineering from The Ohio State University and a bachelor's degree in chemical engineering from the University of California, San Diego.

About BrainCells Inc.

BrainCells Inc. (BCI) is a San Diego-based drug discovery and development company that is applying proprietary neurogenesis-based technology to identify and reposition compounds for the treatment of central nervous system (CNS) diseases. With its predictive screening platform, BCI can direct the selection and development of neurogenic compounds, increasing the opportunity for successful clinical trials in a variety of CNS indications. For more information, visit www.braincellsinc.com.

Contact: David Schull or Tracey Milani Russo Partners LLC (212) 845-4271 david.schull@russopartnersllc.comtracey.milani@russopartnersllc.com

CONTACT: David Schull, david.schull@russopartnersllc.com, Tracey Milani,tracey.milani@russopartnersllc.com, of Russo Partners LLC, +1-212-845-4271

Web site: http://www.braincellsinc.com/