updated 5/5/2011 2:47:29 AM ET 2011-05-05T06:47:29

SWAMPSCOTT, Mass., May 5, 2011 (GLOBE NEWSWIRE) -- Curaxis Pharmaceutical Corporation (OTCQB:CURX) ("Curaxis" or the "Company") announced that its lead drug hormone product for Alzheimer's disease, Memryte, has been named by the editors of R&D Directions magazine as one of the top "100 Great Investigational Drugs in Development" today. In its tenth annual list of promising clinical compounds, R&D Directions cited Curaxis' drug that addresses the pathologies of Alzheimer's disease through multiple pathways, including beta amyloid, tau phosphorylation, inflammation and aberrant cell cycling, as a unique clinical approach in targeting the brain disorder.

"We are honored to be recognized by industry analysts and editors and are delighted by the high-level interest in our science and lead drug candidate," said Patrick S. Smith, Chief Executive Officer of Curaxis. "This further demonstrates the progress we are making and reflects the potential for Memryte to be the first disease modifying treatment for Alzheimer's disease. It is a very exciting time for Curaxis as we plan to begin phase IIB clinical trials in the second half of 2011 and we appreciate this acknowledgement of our work to find a treatment that halts the progression of this devastating disease."

R&D Directions is a leading publication for the pharmaceutical industry and is focused on the progress of drugs advancing through research and development. The March 2011 issue profiles 100 investigational drugs and reviews hundreds of others from Phase I through Phase III. The list reflects the current interests of industry observers and analysts. Currently, thousands of compounds are being developed at large and small companies throughout the world. To be included in R&D Directions' top 100 list, substances had to show potential in a major or growing therapeutic area and be active in development. Many of the compounds on the list address unmet medical needs and several drugs that have made the list in the past eventually go on to receive FDA approval. 

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.

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 U.S. 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: U.S. Contact:
         Curaxis Pharmaceutical Corp.
         David Corcoran
         Email: dcorcoran@curaxispharma.com
         
         Europe Contact:
         Continental Advisors SA
         Andreea Porcelli
         Email: andreea.porcelli@gmail.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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