[Proneuron1] Proneuron receives New Jersey-Israel Life Science Year award

[Jonathan B. Marder]

October 27, 2003   16:00 US Eastern Timezone

Proneuron Receives Award for Outstanding Contribution to the New
Jersey-Israel Life Science Year in the Area of Spinal Cord and CNS
Treatments at event Organized by the New Jersey-Israel Commission 

Award Presented by Gov. of NJ and Vice Prime Minister of Israel

Los Angeles, California, Ness Ziona Israel and Trenton, NJ, October 27, 2003
--- Proneuron Biotechnologies ( <http://www.proneuron.com>
www.proneuron.com), a leader in the development of treatments for spinal
cord injuries and other acute and chronic disorders of the central nervous
system, accepted an award today from the Governor of New Jersey, the
Honorable James E. McGreevey and the Vice Prime Minister of Israel, the
Honorable Ehud Olmert, for "Outstanding Contribution to the New
Jersey-Israel Life Science Year in the Area of Spinal Cord and CNS
Treatments". The award was presented at a ceremony organized by the New
Jersey-Israel Commission at the Trenton War Memorial celebrating the signing
of the Declaration of Mutual Intent for A New Jersey-Israel Life Science
Year (2003-2004) by leaders of the two states, Governor McGreevey and Vice
Prime Minister Olmert.

“We are very pleased that New Jersey has set its sights on supporting
research and development in the area of spinal cord and CNS treatments.  New
Jersey is home to many quality institutions and organizations in the field,
with which we enjoy an ongoing and productive relationship.  It is an honor
to be chosen as the first emerging company to receive this award today,”
said Proneuron Biotechnologies CEO Mr. Nir Nirmodi.

Proneuron is currently engaged in a US IND Phase II study of ProCord therapy
for the treatment of spinal cord injuries within 14 days of incident.
Enrollment is now open at Sheba Medical Center in Israel and soon, will open
at four sites in the U.S.  These include Craig Hospital in Denver, Colorado;
Mount Sinai Hospital in NYC; Shepherd Center in Atlanta and Kessler
Institute for Rehabilitation in West Orange, NJ.  Kessler and Mt. Sinai will
be serviced by Progenitor Cell Therapy, L.L.C. (PCT) of Hackensack, New
Jersey, Proneuron’s choice laboratory in the region for cell processing.

“In the U.S. alone, there are an estimated 11,000 new spinal cord injuries
per year.  To date, spinal cord injuries have been considered permanent.
Thanks to the work of Proneuron, this may not be the case any longer, giving
new hope to thousands. Proneuron is working together with several
well-regarded New Jersey institutions, which will shortly make the
experimental treatment available in our state.  These are the main reasons
why we are honoring Proneuron today. New Jersey is proud to be a part of
such a worthwhile endeavor,” said Andrea Yonah, Executive Director of the
NJ-Israel Commission.

Interested patients, immediate family members of patients and/or physicians
inquiries are requested to contact the Company’s 24/7 patient recruitment
center. 
Email: clinical.trial at proneuron.com; Telephone: 1 866 539 0767 (U.S. toll
free) or
1 506 652 3486; Fax: 1 866-214-7078 *Callers outside of the U.S., please use
standard international dialing code.

About Proneuron Biotechnologies
Proneuron Biotechnologies, Inc. is a privately held biopharmaceutical
company developing products for the medical treatment of spinal cord
injuries and other disorders of the central nervous system.  Its products
are based on proprietary technology for modulating the interaction between
the nervous and the immune systems. The company is currently engaged in
several clinical studies located in the U.S., Belgium and Israel.  These
include: a trial of Macrophage therapy for the treatment of spinal cord
injuries and a trial of Cop-1 for the treatment of Huntington’s disease
(HD).  In 2001, Proneuron entered into a strategic collaboration with Teva
to develop and commercialize Cop-1 for various indications other than HD and
ALS. Proneuron is also developing PN277 for the treatment of additional
neurodegenerative diseases.

Press inquiries: Marjie Hadad, Marjie.hadad at proneuron.com;
Marjie at netvision.net.il; +972-55-365-220


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