Intellect Neurosciences, Inc. Receives Notice of Allowance for Alzheimer Monoclonal Antibody Patent from the United States Patent and Trademark Office
NEW YORK, June 3, 2010 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS) announced today that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a new patent related to the Company's humanized monoclonal antibody, IN-N01, being developed as a disease-modifying treatment for Alzheimer's disease and other related indications. The antibody's intended use is to promote clearance of the amyloid beta toxin from the brain, which leads to Alzheimer's disease. A Notice of Allowance is a written communication from the USPTO stating that the application has been allowed and will be granted as a U.S. patent after payment of the Government issue fee. The patent application that was allowed claims two different monoclonal antibodies, originally designated as 82E1 and 1A10, each of which binds a different end of the amyloid beta protein and not the amyloid precursor protein from which amyloid beta is metabolically generated. This key safety feature is consistent with the ANTISENILIN(R) monoclonal antibody platform invented by Dr. Daniel Chain, the Company's Chairman and CEO.
Dr. Chain commented: "The Notice of Allowance for a new patent by the USPTO is an important milestone, broadening our overall intellectual property portfolio and bolstering the competitive advantage of our internal drug development pipeline, which boasts clinical stage and preclinical programs. IN-N01 is designed to specifically reduce the amount of amyloid beta protein accumulating in the fluids surrounding the brain and to reduce plaque. In addition, IN-N01 has unique inherent features that suggest it may directly inhibit the neurotoxicity of amyloid beta, which accumulates in the brains of Alzheimer's patients, while minimizing the potential for adverse effects. We hope that IN-N01 will be useful to treat a potentially broader population of Alzheimer's patients at earlier stages of the disease compared to similar drugs currently being developed by major pharmaceutical companies."
IN-N01 is the first humanized monoclonal being developed by Intellect Neurosciences under the Company's ANTISENILIN(R) platform for the treatment of Alzheimer's disease. The Company has granted non-exclusive licenses to its ANTISENILIN(R) patent estate to several major pharmaceutical companies that are developing similar types of monoclonal antibody drugs based on Intellect's underlying technology. Intellect envisages IN-NO1 as a follow-on, second-generation product with an improved safety and efficacy profile compared with the drugs that are now in clinical development, allowing higher doses to be safely administered with greater frequency. Additional IN-N01 patents currently are pending in Europe and Japan with more patent applications to be filed in the future.
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 amyloid beta in the brain. The effects of the disease are devastating to patients as well as their caregivers, with significant associated healthcare costs. It is estimated that there are more than 5 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 U.S. $6 billion in sales by 2010, indicating both the size of the market and the demand for effective treatment beyond symptomatic improvements.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. is a 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 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. Intellect's leading clinical candidate for Alzheimer's disease, OXIGON(TM) (OX1), has completed human Phase I trials for safety and tolerability and the next planned stage of testing will be the initiation of Phase II clinical trials in Alzheimer's patients.
The Company's ANTISENILIN(R) patent estate, of which the Company's CEO, Daniel Chain, is the inventor, underlies Bapineuzumab, a monoclonal antibody in Phase 3 clinical trials for Alzheimer's disease (http://clinicaltrials.gov/ct2/show/NCT00574132?term=bapineuzumab&rank= 1).
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(R) 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
For additional information, please visit http://www.intellectns.com
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 December 31, 2009, filed on February 16, 2010.
CONTACT: Intellect Neurosciences, Inc. Elliot Maza, JD, CPA, President & Chief Financial Officer 212-448-9300 201-259-5706 7 West 18th Street, 9th Floor New York, NY 10011, USA http://www.intellectns.com