DURHAM, N.C., Feb. 14, 2011 (GLOBE NEWSWIRE) -- Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp. (OTCQB:CURX) (Frankfurt:8CX), announced that Curaxis management will meet with governmental officials in the Canton of Ticino in Lugano, Switzerland to explore possible strategic opportunities.
Curaxis began trading on the Frankfurt Stock Exchange under the ticker "8CX" on February 7, 2011. Curaxis' had completed several clinical trials involving its lead Alzheimer's drug candidate Memryte for which the results were very encouraging. Curaxis now intends to commence a Phase IIb trial with 250 participants later this year. The Phase IIb trial will be a cost effective and less dilutive approach to confirming earlier Phase II results that were statistically significant.
"We are encouraged by the reception we have received in Europe in conjunction with our new listing on the Frankfurt Stock Exchange," said Mr. Smith. "We look forward to meeting with officials in Lugano to present our encouraging research for extensive pipeline candidates for the treatment of diseases of aging and various cancers."
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. For more information, please visit www.curaxispharma.com.
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.
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