NEW YORK, Oct. 5, 2010 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company with internal preclinical and clinical-stage pipelines, as well as multiple licenses with major pharmaceutical companies covering products in late-stage clinical trials, announced that it has received a patent from the United States Patent and Trademark Office (USPTO) related to its internal Alzheimer's disease (AD) monoclonal antibody program.
The patent is for two highly specific monoclonal antibodies previously acquired by Intellect from Immuno-Biological Laboratories, Ltd. Each of the antibodies binds a different end of the amyloid beta protein without interacting with the amyloid precursor protein from which amyloid beta is generated. This key safety feature is consistent with the ANTISENILIN® monoclonal antibody platform for the prevention and treatment of AD invented by Dr. Daniel Chain, Ph.D., Intellect's Chairman and CEO. Intellect has granted royalty-bearing licenses to several top-tier global pharmaceutical companies with products based on the ANTISENILIN® technology, which are in advanced clinical trials involving several thousand AD patients worldwide.
Dr. Chain commented: "We have had several successes across our patent portfolio in recent months, obtaining four new patent allowances relating to our pipeline. Each new patent increases our potential for attracting partnerships with major pharmaceutical companies. As an example, we are in preliminary discussions with a leading monoclonal antibody company regarding the development of a new antibody technology with applications in AD and other neurodegenerative disorders. Subject to agreement regarding the parameters of the collaboration and its financing, we will use this transforming technology to optimize our humanized monoclonal antibody, IN-N01. We envisage developing a new generation of antibodies for use in AD that have reduced potential to promote inflammation, vasogenic edema and microhemorrhage compared to antibody drugs currently in development by major pharmaceutical companies."
Dr. Giora Feuerstein, M.D., former Head of Discovery Translational Medicine at Wyeth Research and Pfizer who recently joined Intellect as a key consultant, commented: "We are assisting Intellect in its innovation-driven, strategic development plan to produce drugs that will be highly competitive in the market place. The goal in this case is to develop a completely new class of improved antibodies with better safety and efficacy to treat the broadest possible population of AD patients at the earliest stages of the disease, possibly even before it becomes symptomatic. These novel antibodies will substantially expand the repertoire of neutralizing antibodies and enable us to better define and optimize drug efficacy based on pharmacokinetic and safety profiles. Whereas drugs currently in development will require frequent office visits and expensive monitoring for adverse side effects, we envision developing drugs with an improved therapeutic index avoiding the incidence of vasogenic edema and microhemorrhage in the brain. Attainment of our objective would reduce the need for costly office visits and broaden patient access to disease-modifying treatments. The grant of a new patent by the USPTO is an important milestone for this program."
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 amyloid beta, on the surface of nerve cells, which results from the accumulation of soluble amyloid beta in the brain. The effects of the disease are devastating to patients as well as their caregivers, with significant associated health care costs. It is estimated that there are more than 5 million Americans and about 30 million people worldwide suffering from Alzheimer's disease, with the number expected to increase dramatically as the global population ages. Currently marketed drugs transiently affect some symptoms of the disease, but there are no drugs on the market today that slow or arrest the progression of the disease. The United States Alzheimer's market, currently about $3 billion from the sales of these symptomatic drugs, is expected to reach $13.3 billion by 2019 with the advent of disease modifying drugs, especially monoclonal antibodies according to a recent published report from the research firm Decision Resources.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. () is a Manhattan-based 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's drug product pipeline includes OX1, which has been tested in Phase 1 clinical trials; IN-N01, a humanized monoclonal antibody designed to promote the clearance of soluble amyloid beta; and RECALL-VAX, a vaccine technology that has the potential to delay or prevent Alzheimer's disease in people who are at risk. The Company has significant intellectual property assets, which include several patent families underlying the Company's internal programs, and a pivotal patent estate regarding passive AD immunotherapy.
The Company's ANTISENILIN® patent estate claims monoclonal antibodies that bind either end of amyloid beta but do not interact with the amyloid precursor protein from which amyloid beta is produced in the body. This high degree of specificity is an important safety feature reducing the potential for adverse affects. Examples of monoclonal antibodies exhibiting this property are Bapineuzumab and Ponezumab in Alzheimer's Phase 3 and Phase 2 clinical trials, respectively (http://clinicaltrials.gov/ct2/show/NCT00574132?term=bapineuzumab&rank=1; http://clinicaltrials.gov/ct2/results?term=PF-04360365).
Patents have been granted in Europe, Japan, China and elsewhere, and are pending in the United States. Intellect has granted royalty-bearing licenses to its ANTISENILIN® patent estate to several top tier global pharmaceutical companies developing monoclonal antibodies for Alzheimer's disease. For further information, see the Company's filings with the Securities and Exchange Commission, including Forms 8-K filed on:
May 1, 2009
January 8, 2009
October 14, 2008
May 19, 2008
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-K, (file no. 333-128226) filed on October 13, 2009, and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2010, filed on May 17, 2010.
CONTACT: Intellect Neurosciences, Inc. Elliot Maza, JD, CPA, President & Chief Financial Officer 212-448-9300 201-259-5706 45 West 36th Street, 3rd Floor New York, NY 10011 http://www.intellectns.com