updated 9/30/2010 12:46:18 PM ET 2010-09-30T16:46:18

DURHAM, N.C., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp (OTCBB:CURX), in prepared remarks today commented on the World Alzheimer's Report 2010 recently released by Alzheimer's Disease International, a worldwide umbrella organization of Alzheimer's associations.

"The Report brings home in very stark terms the scope of the crisis we face in dealing with the epidemic of Alzheimer's disease. The Report estimates current worldwide costs of dementia are over $600 billion, with an estimated 35 million people living with Alzheimer's, a number that is projected to increase to over 65 million by 2030. These are clearly alarming numbers and trends," stated Mr. Smith.

Curaxis' lead Alzheimer's disease candidate, Memryte, addresses the pathologies of Alzheimer's through multiple pathways, including reducing beta amyloid proteins in AD brains, reducing tau phosphorylation, which effects the neurofibrillary tangles, inflammation and aberrant cell cycling or neuronal cell division which could be the triggering pathological event.

This multi-prong treatment approach is unique in the Alzheimer's clinical trials arena. The company will launch a Phase 2b trial of Memryte in women, and hopes to obtain data similar to that produced in the earlier Phase 2a trial in women suffering from mild-to-moderate Alzheimer's. Curaxis believes Memryte could be the first disease modifying treatment for Alzheimer's disease.

"During the past several years, we have seen an increasing body of research that supports our approach. Earlier this year a research paper ('Luteinizing-hormone Releasing Hormone Therapy and the Risk of Death From Alzheimer's Disease' by Anthony D'Amico et al) was published in Alzheimer's Disease & Associated Disorders. The paper found that men who were treated for prostate cancer with a luteinizing hormone (LH) agonist had a significantly reduced risk of dying from Alzheimer's compared to men with prostate cancer who did not receive that treatment. The active ingredient in Memryte is an LH agonist. We were gratified to see this independent confirmation of our approach to treating Alzheimer's," added Patrick Smith.

"The conclusions reached in Dr. D'Amico's study were similar to the conclusions reached in a study lead by Heather Beaird at Case Western Reserve University, the results of which were published at the 9th International Congress on Alzheimer's Disease in 2004. That study also found that men treated for prostate cancer have a decreased incidence of Alzheimer's disease. Both of these studies support the concept of early intervention in Alzheimer's disease, which is an important goal of the Alzheimer's Association," concluded Smith.

The company believes that these studies represent just two independent validations from a substantial data base of research accumulated over the last decade. Curaxis is hopeful that the potential for a truly helpful disease modifying treatment is possible in the next five years.

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.  For more information, please visit www.curaxispharma.com .

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.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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