EX-99.1 3 tm2615772d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 BrainStorm Cell Therapeutics Appoints Former FDA Associate Commissioner Peter J. Pitts to Board of Directors Former Senior FDA Official Joins Board as Company Prepares to Initiate Historic Phase 3b ALS Trial Under Special Protocol Assessment NEW YORK, NY - May 28, 2026 - BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI), a leading developer of autologous stem cell therapies for neurodegenerative diseases, today announced that Peter J. Pitts has been appointed to the Company’s Board of Directors, effective immediately. Mr. Pitts is a globally recognized expert in healthcare policy, regulatory science, and U.S. Food and Drug Administration (FDA) governance. He previously served as Associate Commissioner at the FDA and as a member of the U.S. Senior Executive Service. His appointment comes as BrainStorm prepares to, upon acquisition of necessary funding, initiate its Phase 3b ENDURANCE trial evaluating NurOwn® for ALS under a recently executed FDA Special Protocol Assessment (SPA), the first SPA ever granted for an ALS therapeutic candidate. “BrainStorm is conducting some of the most important and scientifically rigorou…
Open exhibit ↗Current Report · Items 5.02, 7.01, 9.01 · 8-K
Brainstorm Cell Therapeutics Inc.
BCLIOTCEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Regulation FD Disclosure
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On May 25, 2026, the Board of Directors (the “Board”) of Brainstorm Cell Therapeutics Inc.…
Company context
BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI) is a leading developer of autologous adult stem cell therapies for debilitating neurodegenerative diseases. The company’s proprietary NurOwn® platform uses autologous mesenchymal stem cells (MSCs) to produce neurotrophic factor-secreting cells (MSC-NTF cells), designed to deliver targeted biological signals that modulate neuroinflammation and promote neuroprotection.
Current securities
Recent company filings
Disclosure sections
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02. Departure of Directors or Principal Officers; Election
of Directors; Appointment of Principal Officers.
On May 25, 2026, the Board of Directors (the “Board”)
of Brainstorm Cell Therapeutics Inc. (the “Company”) approved an increase in the number of directors constituting the
Board from seven to eight directors and appointed Peter Pitts to serve as a director of the Company, effective as of the same day, to
serve until the Company’s 2026 Annual Meeting of Stockholders and until his successor is duly elected and qualified.
Mr. Pitts, age 67, has served as the President of the Center for Medicine
in the Public Interest since 2004. Mr. Pitts has served as a Visiting Professor at the University of Paris School of Medicine since 2015.
From 2001 through 2003, Mr. Pitts served as a member of the United States Senior Executive Service, and from 2001 through 2003, he was
Associate Commissioner of the US Food & Drug Administration, where he served as senior communications and policy adviser to the Commissioner.
Mr. Pitts has served as a member of the Council for International Organizations of Medical Sciences Expert Working Group to help advance
patient involvement in the development and safe use of medicines since 2020. From 1997 though 2000, Mr. Pitts served as an adjunct professor
at Indiana University’s School of Public and Environmental Affairs. Mr. Pitts has over 30 years of experience in health care public
policy, and is lead author of multiple peer-reviewed publications. Mr. Pitts has a BA degree from McGill University.
The Company will enter into a standard indemnification agreement with
Mr. Pitts, a form of which is filed as Exhibit 10.1 to this Current Report on Form 8-K. The Board also issued Mr. Pitts, upon his appointment
to the Board, an option to purchase up to 150,000 shares of the Company’s common stock, which was
consistent with the one-time grants made to the members of the Board in 2026 prior to the appointment of Mr. Pitts. Half of the options
vested upon issuance, and the remaining half will vest on the six-month anniversary of their issuance. Mr. Pitts will also be eligible
to participate in the Company’s annual non-employee director compensation program if and when the Board re-establishes that program.
The Board determined that Mr. Pitts is “independent” as
defined under the applicable SEC rules and regulations and the Company’s corporate governance guidelines. There are no family relationships
between Mr. Pitts and any director or executive officer of the Company. There are no arrangements or understandings between Mr. Pitts
and any other persons or entities pursuant to which Mr. Pitts was appointed as director of the Company, and there are no transactions
involving Mr. Pitts, on the one hand, and the Company, on the other hand, that would require disclosure under Item 404(a) of Regulation
S-K.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
The Company issued a press release on May 28, 2026, regarding Mr. Pitts’
appointment to the Board. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein solely for purposes of this Item 7.01 disclosure.
Such press release shall not be deemed “filed” for any
purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or otherwise subject to the liabilities of that Section. The information in this Item 7.01, as well as Exhibit 99.1, shall not be deemed
incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general
incorporation language in such filing.