ROCKVILLE, Md., May 8, 2014 /PRNewswire/ -- Neuralstem, Inc.
(NYSE MKT: CUR) announced the appointment of Sandford Drexel Smith to its Board of Directors,
bringing the total number of board members to seven, five of whom
are independent. Mr. Smith is the former President, International
Group, and Executive Vice President of Genzyme Corporation. He also
served on Genzyme's Executive Committee, where he reported directly
to the Chairman and CEO. As President of the International Group,
Mr. Smith opened markets in China,
Latin America, India, Russia
and Eastern Europe, establishing
more than 45 offices worldwide, and was responsible for the launch
of 12 new products in diverse therapeutic areas. Under Mr.
Smith's leadership, Genzyme's international business grew from
$100 million to $3.1 billion in 2011, or 60% of the company's
total revenues. In 2011, Genzyme was acquired by Sanofi, one of the
world's largest healthcare companies, and Mr. Smith helped
coordinate the integration.
"I am honored and excited to become the newest Director of
Neuralstem's Board," said Mr. Smith. "Neuralstem's technology has
the potential to be a transformational platform for patients in a
wide range of CNS diseases. I look forward to working with the
management team and the Board at this dynamic time in the company's
development to bringing life-changing products to patients on a
global scale."
"We are pleased to have Sandy join our Board and the Neuralstem
team," said Richard Garr, President
and Chief Executive Officer of Neuralstem. "We are approaching a
pivotal point for Neuralstem, establishing proof-of-principle in
humans in multiple CNS indications around the world. Sandy's
experience directing global commercialization for the world's most
successful rare disease company will prove invaluable as we build
the infrastructure necessary to move our programs and company to
the next level."
Mr. Smith currently serves as a director of two publicly traded
companies: Aegerion Pharmaceuticals and CytoKinetics, and is a
former Vice Chairman of the Board and Lead Independent Director at
Ariad Pharmaceuticals. Mr. Smith is on the President's
Advisory Board of Brigham & Women's Hospital, a teaching
affiliate of Harvard Medical School. He
is the founder of the Smith Scholars, a medical residency program
for physicians from resource-poor nations. Mr. Smith is also a
Managing Director of Tullis Health Investors, a healthcare venture
capital firm. He holds a B.Sc. degree from the University of Denver.
About Neuralstem
Neuralstem's patented technology enables the production of
neural stem cells of the 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 glial cells. Neuralstem's NSI-566 spinal cord-derived
stem cell therapy is in Phase II clinical trials for amyotrophic
lateral sclerosis (ALS), often referred to as Lou Gehrig's disease. Neuralstem has been
awarded orphan status designation by the FDA for its ALS cell
therapy.
In addition to ALS, the company is also targeting major central
nervous system conditions with its NSI-566 cell therapy platform,
including spinal cord injury and ischemic stroke. The company has
received FDA approval to commence a Phase I safety trial in chronic
spinal cord injury.
Neuralstem also maintains the ability to generate stable human
neural stem cell lines suitable for 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 neurons, possibly reversing
pathologies associated with certain central nervous system
conditions. The company has completed a Phase I safety trial
evaluating NSI-189, its first neurogenic small molecule product
candidate, for the treatment of major depressive disorder
(MDD). Additional indications might include traumatic brain
injury (TBI), Alzheimer's disease, and post-traumatic stress
disorder (PTSD).
For more information, please visit www.neuralstem.com or connect
with us on Twitter, Facebook and LinkedIn
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, 2013.
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SOURCE Neuralstem, Inc.