updated 5/18/2011 7:17:06 AM ET 2011-05-18T11:17:06

NEW YORK, May 18, 2011 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for Alzheimer's disease and other serious neurodegenerative conditions, with an internal diversified pipeline and licenses with major pharmaceutical companies covering products in late-stage clinical trials, announced today that Dr. Daniel Chain, Chairman & CEO, will be delivering a speech entitled "Immunotherapy for Alzheimer's Disease: Rational Drug Design" at the International Conference of Drug Discovery for Brain Disorders to be held in Panama City, 30-31st May 2011. His Excellency President Ricardo Martinelli Republic of Panama will give the inaugural address and present awards from SENACYT to 17 world leaders in Neurosciences, including to Dr. Chain.   

The symposium is organized by the Institute for Scientific Research and Technology Services (INDICASAT), and the National Secretariat for Science, Technology and Innovation (SENACYT) and is co-sponsored by the International Brain Research Organization (IBRO), International Society for Neuroscience (ISN), International Union of Biochemistry and Molecular Biology (IUBMB), and the Alzheimer´s Association. Dr. Chain's speech will provide an overview and realistic assessment of the road ahead for Alzheimer's antibody-based treatments. In addition, Dr. Chain will give a special inaugural lecture for graduate students entitled "Science, Innovation & Business." 

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 beta-amyloid, on the surface of nerve cells, which results from the accumulation of soluble beta-amyloid in the brain. The effects of the disease are devastating to the patients as well as the caregivers, with significant associated health care costs. It is estimated that there are more than 5 million Americans and about 30 million people suffering from Alzheimer's disease worldwide, with the number expected to increase dramatically as the global population ages. Currently marketed drugs transiently affect some of the symptoms of the disease, but there are no drugs on the market today that slow or arrest the progression of the disease.  

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 serious neurodegenerative disorders. The Company's ANTISENILIN® monoclonal antibody technology platform for treatment of Alzheimer's disease, invented fourteen years ago by Dr. Chain, was the first to specifically target the soluble "floating" beta amyloid that is now generally believed to be responsible for most of the damage in the brain of Alzheimer's patients. Importantly, ANTISENILIN® antibodies bind the major classes of beta amyloid including soluble and plaque-bound forms, but avoid binding to the amyloid precursor protein from which beta amyloid is produced in the body. This high degree of specificity is an important safety feature, significantly reducing the potential for adverse affects for Alzheimer's immunotherapy. Patents have been granted in Europe, Japan and several other countries with corresponding patent applications pending in the United States. The Company's most advanced internally developed product is OX1, which has been tested in Phase 1 clinical trials and has broad potential to treat diseases in which tissues especially nervous tissue, is damaged by oxidative stress. The Company plans to conduct clinical proof of concept patient trials for OX1 in Friedreich's Ataxia, a rare inherited disease that brings about free-radical mediated progressive damage to the nervous system.

The Company is developing IN-N01, a next generation humanized monoclonal and Recall-Vax, a vaccine technology that has the potential to delay or prevent Alzheimer's disease in people who are at risk.

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, 2010, and information contained in our Quarterly Report on Form 10-Q for the three month period ended September 30, 2010, filed on November 18, 2010.

CONTACT: Intellect Neurosciences, Inc.
         Elliot Maza, JD, CPA,
         President and Chief Financial Officer
         Tel. 212-448-9300
         45 West 36th St.
         3rd Floor New York,
         NY 10018, USA.

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