BrainStorm Cell Therapeutics Inc. Has Met Equity Financing Condition

NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--BrainStorm Cell Therapeutics Inc. (OTCBB:BCLI), a leading developer of adult stem cell technologies and therapeutics, is pleased to announce that it has met the conditions to the satisfaction of ACCBT Corp. to receive the first portion of the equity financing transaction from ACCBT Corp., a company under the control of Brainstorm’s president, Chaim Lebovits, and that it has been informed by ACCBT Corp. that the funding of $1 million (of the $5 million total ACCBT Corp. commitment) will occur ahead of the previously scheduled closing date of August 30, 2007. The closing condition was met when BrainStorm completed the restructuring of certain contract matters with Ramot at Tel Aviv University Ltd., the technology transfer company of Tel Aviv University (TAU).