NEW YORK, July 31 NY-Intellect-Alzheim
NEW YORK, July 31 /PRNewswire-FirstCall/-- Intellect Neurosciences, Inc.
(OTC Bulletin Board: ILNS) announced today it has obtained a European patent
relating to the Company's ANTISENILIN(R) monoclonal antibody platform for the
treatment of Alzheimer's disease. The claims of the issued patent cover the
ANTISENILIN(R) "free-end specific" antibodies that bind to beta amyloid and
use of the antibodies in preventing or inhibiting the progression of
Alzheimer's disease. The technology is designed to promote the clearance of
beta amyloid which accumulates to reach toxic concentrations in the brains of
Alzheimer's patients while reducing the potential for adverse side-effects.
Importantly, such drugs avoid binding and thereby potentially interfering with
the functions of the Amyloid Precursor Protein, which is an important
physiological regulator in the body implicated in controlling essential brain
functions as well as blood coagulation. The Company recently disclosed that it
has granted a royalty-bearing license to Wyeth and Elan Pharma International
Ltd. regarding patents and patent applications related to antibodies and
methods of treatment for Alzheimer's disease, including Bapineuzumab,
currently in Phase 3 clinical trials. The Company retains the ability to grant
additional licenses under its ANTISENILIN(R) monoclonal antibody technology
invented by Dr. Daniel Chain, the Company's Chairman and CEO. The
ANTISENILIN(R) patents have previously issued in China, Japan and other
countries.
Dr. Chain commented: "The grant of the European Patent represents an
important milestone with respect to our strategy, which is to leverage our
monoclonal antibody patent estate by licensing it to a number of major
pharmaceutical companies with drug candidates in clinical development. The
grant of the patent triggers a milestone payment under our contract with Wyeth
and Elan and provides us the potential opportunity to receive royalties based
on product sales in Europe, in addition to Japan and other countries. The
European market is estimated to be one of the largest markets outside the
United States, representing more than six million victims of Alzheimer's
disease". Dr. Chain added: "Meanwhile, Intellect is proceeding with the
preclinical development of its own drug candidate, IN-N01, which we are
engineering with the aim of minimizing its potential to cause inflammation in
the brain and thereby possibly increase the frequency and dose at which it can
be administered. The effectiveness of our strategy will ultimately need to be
tested in patient clinical trials".
"Dr. Chain's prophetic discovery and pioneering work relating to
monoclonal antibodies for the treatment of Alzheimer's disease contributed in
an important way to the development of a new class of therapeutic products
that may slow or arrest the progression of this dreadful disease," commented
Professor Blas Frangione, Professor of Pathology and Psychiatry and Head of
Alzheimer's Disease Research Center, New York University.
About Intellect's Immunotherapy Platforms for Alzheimer's disease
An accumulation of beta amyloid protein fragments in the brain is thought
to be the root cause of Alzheimer's disease. The fragments are generated as a
product of metabolism from the much larger Amyloid Precursor Protein which is
present in most tissues in the body and implicated in numerous important
physiological functions. Intellect's immunotherapy approach for Alzheimer's
disease involves making an antibody molecule available to bind to the
beta-amyloid toxin, thus promoting its clearance away from sites of damage in
the brain. This therapeutic outcome can be potentially achieved either by
administering an externally generated monoclonal antibody (passive
immunization) or by provoking the patient's immune system to generate such an
antibody (active immunization). Both approaches have the potential to slow or
arrest disease progression provided that key safety issues are addressed. Of
particular importance is the need to avoid interfering with the physiological
roles of the Amyloid Precursor Protein. Intellect's has incorporated
proprietary safety features into its ANTISENILIN(R) monoclonal antibody and
RECALL-VAX(TM) technology platforms for both passive and active immunization,
respectively to minimize the potential for adverse side-effects by generating
antibodies that bind only the toxic beta amyloid and not the Amyloid Precursor
Protein. These features and supporting patent position provides the Company
with a strong competitive advantage in this field.
About Alzheimer's disease
Alzheimer's disease, the most common form of dementia, is characterized by
progressive loss of memory and cognition, ultimately leading to complete
debilitation and death. A hallmark feature of Alzheimer's pathology is the
presence of insoluble protein deposits known as beta-amyloid on the surface of
nerve cells, which results from the accumulation of soluble beta-amyloid in
the brain. The effects of the disease are devastating to the patients as well
as the caregivers, with significant associated health care costs. It is
estimated that there are more than 5 million Americans and about 30 million
people suffering from Alzheimer's disease world wide with the number expected
to increase dramatically as the global population ages. Currently marketed
drugs transiently affect some of the symptoms of the disease, but there are no
drugs on the market today that slow or arrest the progression of the disease.
These symptomatic drugs are projected to generate more than $6 billion in
sales by 2010, indicating both the size of the market and the demand for
effective treatment beyond symptomatic improvements.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. is a biopharmaceutical company engaged in
the discovery and development of disease-modifying therapeutic agents for the
treatment and prevention of Alzheimer's disease and other disorders. The
company has a broad proprietary immunotherapy platform for both passive and
active immunization against Alzheimer's disease. Also, Intellect has recently
completed Phase I clinical trials for OXIGON(TM), which has potential to treat
Alzheimer's disease and other serious disorders.
For additional information, please visit http://www.intellectns.com, or
contact:
Elliot Maza, JD, CPA
President & Chief Financial Officer Intellect Neurosciences, Inc.
7 West 18th Street, 9th Floor New York, NY 10011,
USA Tel: +1-212-448-9300
Safe Harbor Statement Regarding Forward-Looking Statements
The statements in this release and oral statements made by representatives
of Intellect relating to matters that are not historical facts (including
without limitation those regarding future performance or financial results,
the timing or potential outcomes of research collaborations or clinical trials,
any market that might develop for any of Intellect's product candidates and
the sufficiency of Intellect's cash and other capital resources) are
forward-looking statements that involve risks and uncertainties, including,
but not limited to, the likelihood that actual performance or results could
materially differ, that future research will prove successful, the likelihood
that any product in the research pipeline will receive regulatory approval in
the United States or abroad, or Intellect's ability to fund such efforts with
or without partners. Intellect undertakes no obligation to
update any of these statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as to the date
hereof. Accordingly any forward-looking statements should be read in
conjunction with the additional risks and uncertainties detailed in
Intellect's filings with the Securities and Exchange Commission, including
those factors discussed under the caption "Risk Factors" in Intellect's Annual
Report on Form 10-KSBA (file no. 1-10615) filed on October 19, 2007, and our
Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007,
filed on December 10, 2007 (file no. 1-10615), and for the quarter ended
December 31, 2007, filed on February 19, 2007.
SOURCE Intellect Neurosciences, Inc.
