DURHAM, N.C., Sept. 8, 2010 (GLOBE NEWSWIRE) -- Curaxis Pharmaceutical Corp (OTCBB:CURX) today announced an update on the Company's clinical development plans for Memryte, its candidate to treat mild-to-moderate Alzheimer's disease.
The cumulative cost to care for Alzheimer's patients in the U.S. between 2010 and 2050 is projected to exceed $20 trillion in today's dollars according toa new report from the Alzheimer's Association called "Changing the Trajectory of Alzheimer's Disease: A National Imperative." In connection with the release of the report, Harry Johns, President of the Alzheimer's Association stated, "Today, there are no treatments that can prevent, delay, slow or stop the progression of Alzheimer's disease."
Patrick Smith, CEO of Curaxis Pharmaceutical, stated, "We have completed our merger and are a publicly-traded company. We will now enjoy improved access to the capital markets enabling us to fund future development of Memryte, our Alzheimer's disease candidate."
It has been widely reported that several Phase 3 trials that targeted beta amyloid as the cause of Alzheimer's have failed during the past few years. Most recently, Lilly announced the early termination of its Phase 3 trial targeting beta amyloid, following an interim analysis that showed no cognitive benefit and higher rates of skin cancer for the treated group.
"We have maintained for ten years that beta amyloid is a symptom and not a cause of Alzheimer's and we believe these numerous failed trials confirm that belief. As a result, the pendulum has swung away from beta amyloid as a target and toward a multi-pronged approach such as that offered by Curaxis. Our lead Alzheimer's candidate, which we call Memryte, addresses the cascade of events that lead to Alzheimer's, including tau phosphorylation, inflammation and aberrant cell cycling and, as a byproduct, reduces beta amyloid accumulation."
Curaxis has been working on its patented multipronged approach for the past ten years and has accumulated a substantial body of data including pre-clinical and clinical research that is second to none in the Alzheimer's arena.
"As we ramp up our efforts to launch a Phase 2b trial of Memryte in women later this year, we are immensely excited about the opportunity to produce data as compelling as the data obtained in our earlier Phase 2a trial in women suffering from mild-to-moderate Alzheimer's. Based on that data, we believe Memryte could be the first disease modifying treatment for Alzheimer's disease," added Mr. Smith.
"We look forward to working with our world-class clinical development advisers and leading clinical sites throughout the United States in this upcoming trial, with the goal of moving Memryte forward as the first disease modifying treatment for Alzheimer's patients," concluded Patrick Smith.
About Curaxis
Curaxis is an emerging specialty pharmaceutical company with a hormone drug product candidate for the treatment of Alzheimer's disease and multiple cancers. Curaxis' therapeutic platform is based on the hypothesis that many diseases of aging may be caused by age-related changes in the function of the hypothalamic-pituitary-gonadal (HPG) axis. The HPG axis is a hormonal endocrine feedback loop that controls development, reproduction and aging in animals. This drug development platform is built on the premise that hormones associated with this feedback loop are beneficial early in life, when they promote growth and development, but are harmful later in life when the mechanism for feedback is compromised, thereby leading to disease processes, including pathologies associated with Alzheimer's disease and various cancers. We believe our discovery of similar hormonal signaling mechanisms at the cellular level in brain tissue from Alzheimer's patients and in multiple tumors will enable us to develop significant new treatments for Alzheimer's disease as well as many cancers.
Notice Regarding Forward Looking Statements
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding potential results and future plans and objectives of Curaxis Pharmaceutical Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the Securities and Exchange Commission. Other risk factors may include, but are not limited to, fluctuation in quarterly results, and increased competition in our operations, our ability to continue operations as scheduled, and our ability to protect the proprietary technology we use. Further, the company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the company's control, such as announcements by competitors and service providers.
The contents of this press release are presented as a general overview of the company. It is intended only to contain general information regarding the company and its business and does not purport to provide complete disclosure or analysis of all matters, which may be relevant to a decision to make an investment, including all risk factors or similar considerations. Although the information is believed current as of the date herein, the information may be subject to change, amendment or supplementation, and the company does not expect, and assumes no obligation, to update or otherwise revise the information herein.
CONTACT: Curaxis Pharmaceutical David J. Corcoran dcorcoran@curaxispharma.com