NEW YORK, Sept. 20, 2010 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company with both internal preclinical and clinical-stage pipelines, as well as multiple licenses with major pharmaceutical companies covering products in late-stage clinical trials, announced that Dr. Daniel Chain, Ph.D., Chairman and CEO will deliver a key note speech at the Rural Doctors of Ireland 25th Anniversary Conference to be held in Mulranny, County Mayo, Ireland on October 2nd, 2010. Dr. Chain's speech, "Development of Novel Alzheimer's Therapeutics," will provide an overview and balanced assessment of progress in the field.
"I was delighted to be invited by Dr. Jerry Cowley M.D., Chairman of the Rural Doctor's Group," said Dr. Daniel Chain. "Dr Cowley's successful initiative, 'Safe Home' in the West of Ireland, has been a powerful tool for rural regeneration and serves as an important model for integrated community living for older people throughout Europe. I look forward to sharing my perspective regarding therapeutic strategies and progress in the development of new Alzheimer's drugs with this group of highly dedicated medical practitioners."
"We are honored to have Dr. Chain from Intellect Neurosciences speak at our milestone 25th anniversary conference," said Dr. Jerry Cowley. "On a daily basis our members deal with the devastating effects that Alzheimer's disease has on patients and caregivers and are particularly eager to learn about the latest developments in the field of Alzheimer's therapeutics. Dr. Chain's important role is apparent in the activities of several major pharmaceutical companies such as Irish drug maker élan, Pfizer, Johnson & Johnson, and GlaxoSmithKline that are known to be developing drugs based on the ANTISENILIN® monoclonal antibody platform invented by Dr. Chain."
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 neurotoxic 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 five 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. These symptomatic drugs are projected to generate more than US $6 billion in sales this year, indicating both the size of the market and the demand for effective treatment beyond symptomatic improvements.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. (www.intellectns.com) 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 http://www.intellectns.com 45 West 36th Street, 3rd Floor New York, NY 10011, USA