updated 3/24/2011 4:15:36 AM ET 2011-03-24T08:15:36

DURHAM, N.C., March 24, 2011 (GLOBE NEWSWIRE) -- Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp. (OTCBB:CURX) (Frankfurt:8CX), commented today on recent research results reported by Prana Biotechnology.

"Prana's research, in which they elaborated on changes in brain structure in mice treated with their Alzheimer's disease candidate, underscores the validity of new approaches to treating Alzheimer's that do not target beta amyloid as the primary cause of the disease. Repeated failures in advanced clinical trials have demonstrated that beta amyloid is not an effective target for treating Alzheimer's. We extend our congratulations to Prana on this research. Similarly, Memryte, which is our novel candidate to treat Alzheimer's and which lowers elevated levels of luteinizing hormone (LH), has demonstrated significant promise in treating Alzheimer's in both animal testing and in human clinical trials. Our research indicates that our approach works to stabilize cognition and reduce inflammation, beta amyloid accumulation, tau phosphorylation and oxidative stress, all of which we believe are downstream events for which elevated LH levels serve as the catalyst. We look forward to further demonstrating the potential of Memryte as the first disease modifying treatment for Alzheimer's as we move into advanced clinical trials later this year," Mr. Smith concluded.

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 Corp. 
         Contact: David Corcoran
         Email: dcorcoran@curaxispharma.com

         European Advisor: Andreea Porcelli
         Phone: 0035-2-2088-0289
         Email: andreea.porcelli@contiadvisors.com

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