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March 13, 2004 - Proneuron obtains $ 3.2m commitment; Proneuron Technologies ; Shepherd Center; Marcus Foundation

Privately-held Israeli biopharmaceutical firm Proneuron Technologies and the Shepherd Center, one of the world's leading centers for the treatment of traumatic spinal cord and brain injuries, have announced the receipt of a $ 3.2 million commitment by the Marcus Foundation.

The commitment will aid the financing of establishing of a cell-processing center in Atlanta, USA, and to support the Shepherd Center's participation in Proneuron's international, multi-center, randomized-controlled Phase II study of ProCord, an experimental procedure for acute spinal cord injury.

"We have been following the development of this experimental procedure, ProCord, for more than a year and feel confident that the collaboration between Shepherd and Proneuron will significantly contribute to the further advancement of this research," said Bernie Marcus, chairman of the Marcus Foundation.

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