ROCKVILLE, Md., Dec. 21 /PRNewswire-FirstCall/ -- Neuralstem, Inc., headquartered here, today announced that its common shares have begun trading on the Over the Counter Bulletin Board under the symbol NRLS .
(Logo: http://www.newscom.com/cgi-bin/prnh/20061221/DCTH007LOGO )
Neuralstem's patent-protected technology enables, for the first time, 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 into mature, physiologically relevant human neurons and glia. The Company's technology was invented by founding scientist, Karl Johe, Ph.D. while at the National Institute of Neurological Disease and Stroke, at the National Institutes of Health.
According to Richard Garr, Neuralstem President and Chief Executive Officer, "Neuralstem has come public to further its primary goal -- to transplant these cells into patients to treat currently incurable diseases. The Company expects that its first Investigational New Drug (IND) application will be for the treatment of Ischemic Spastic Paraplegia, a form of paraplegia that sometimes results from the surgery to repair aortic aneurysms and for which there is no effective treatment. The Company hopes to submit its initial IND application to the FDA and begin its first human trial during calendar year 2007."
"Neuralstem is a second generation stem cell company," Garr went on to say, "built not so much to do basic research and discovery, as to optimize our discovery of neural stem cells, and take them into the clinic and into patients. We believe that our technology answers many of the issues that have held the field back, and makes it possible to build a stem cell company around a true product focus."
As of November 15, 2006, Neuralstem had 25,608,272 shares issued and outstanding of which 8,072,000 shares have been registered with the SEC and are currently free trading. A 10-Q for the quarter ending September 30, 2006, and/or an SB-2 registration statement dated August 24, 2006 are available from the company upon request.
About Neuralstem
Major Central Nervous System diseases targeted by the Company with research programs currently underway include: Ischemic Spastic Paraplegia, Traumatic Spinal Cord Injury, ALS, and Parkinson's Disease. The company has also developed immortalized human neural stem cells for in-vitro use in drug development for the academic and pharmaceutical markets. The company's cells recently extended the life of rats with ALS (Lou Gehrig's disease) in a paper published in the journal TRANSPLANTATION, and were deemed viable for continued work in neurodegenerative spinal conditions. For further information, please visit http://www.neuralstem.com.
This press release contains forward-looking statements. Neuralstem wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, US FDA responses, and responses from other jurisdictions, to various regulatory submissions; SEC responses to various registration submissions; changes in corporate strategy; the need to raise additional capital; the success or failure of other private and public organizations and/or academic and corporate institutions engaged in stem cell research and development, and the market for stem cell research in general. For further information, please review the company's SB-2 filing with the Securities and Exchange Commission, and its 10-Q for the quarter ending September 30, 2006.
Company Contact: Investor Relations: Richard Garr, President (301) 366-4960 Equity Communications Media Contact: Planet Communications Ira Weingarten (805) 897-1880 Deanne Eagle (917) 837-5866 Steve Chizzik (908) 688-9111
Photo: http://www.newscom.com/cgi-bin/prnh/20061221/DCTH007LOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comNeuralstem, Inc.CONTACT: Company Contact: Richard Garr, President of Neuralstem, Inc.,+1-301-366-4960; Media Contact: Deanne Eagle of Planet Communications,+1-917-837-5866, for Neuralstem, Inc.; or Investor Relations: IraWeingarten, +1-805-897-1880, or Steve Chizzik, +1-908-688-9111, both ofEquity Communications for Neuralstem, Inc.
Web site: http://www.neuralstem.com/
