RA'ANANA, Israel--(BUSINESS WIRE)--BrainsGate Ltd. today received the prestigious Technology Pioneer Award for 2007, presented by the World Economic Forum in Davos, Switzerland. In total, 47 Technology Pioneer winners from around the world were selected by a panel of leading technology experts from a list of 225 nominees identified by worldwide leading venture capital and technology companies.

To be nominated, a company has to be involved in developing life-changing technology innovation with potential for long-term impact on business and society, and in addition, it must demonstrate visionary leadership, show the signs of being a long-standing market leader ? and its technology must be proven. Previous Technology Pioneers have included Google, Napster, and Millennium Pharmaceuticals.

"We are very happy to have been selected as one of this year's Technology Pioneers" said Avinoam Dayan, CEO of BrainsGate. "We are encouraged by the fact that the WEF panel has recognized the potential of our technology as a platform for CNS treatment. We have decided to focus on ischemic stroke as the first application of this platform, bringing new hope to the millions of victims of this terrible disease."

About the World Economic Forum

The World Economic Forum (http://www.weforum.org), based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda. Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests. In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.

About BrainsGate

BrainsGate?s technology involves electrical stimulation of the Spheno-Palatine Ganglion (SPG), a nerve center located above the roof of the mouth. This stimulation causes blood vessels feeding the brain to dilate, thus supplying more blood to the brain. The SPG is easily accessible, using a needle-size device which is implanted in a minimally invasive, local anesthesia surgery, lasting approximately 15 minutes. The device can then be activated using an external system.

BriansGate's leading indication is treatment of acute ischemic stroke, where current treatments are effective only if given within 3 hours from stoke onset, resulting in 96% of patients receiving no treatment. BrainsGate's device can be implanted in patients up to 24 hours from stroke onset, thus widening the therapeutic window and making it relevant to practically all the patient population.

SPG stimulation is a general platform which can be used to treat a host of CNS related indications. Clinical testing of BrainsGate's system for the stroke application is ongoing in a multi-center, multi-national trial, with initial proof of efficacy expected in late 2007.

BrainsGate is a privately owned medical device startup company headquartered in Israel. Lead investors include Boston Scientific, Pitango Venture capital, Elron Electronic industries (NASDAQ:ELRN), Alice ventures and Infinity ventures. For more information please visit http://www.brainsgate.com.

Caution: BrainsGate's System is an investigational device, limited to investigational use.