Enters Service Agreement With Advinus Therapeutics, India to Validate Potential Memory Restoring Benefits of Alzheimer's Drug Caprospinol Strategy is to Bolster Caprospinol Alzheimer's Data Package to Out-License to Big Pharma and Expand IND Application to Enter Human Trials
LAS VEGAS, March 5, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals Inc. (AMEX:LIV) a developer of innovative drugs, announced today it has signed a service agreement with Advinus Therapeutics Limited, India, to perform validating preclinical studies for Caprospinol (SP-233), the company's lead Alzheimer's drug.
Samaritan has completed a series of studies that suggests Caprospinol offers a new and novel neuroprotective treatment that could potentially protect the memory of Alzheimer's patients. Promising preclinical studies have shown that Caprospinol directly targets the amyloid peptide which is commonly thought to be the cause of Alzheimer's. Advinus will perform studies to validate Samaritan's previous findings; and in addition, Samaritan's strategy is to perform extensive preclinical studies with the intention of out-licensing Caprospinol to a major pharmaceutical company; and concurrently, expand Samaritan's investigational new drug application (IND) to the FDA, to enter Phase I human clinical trials.
Dr. Greeson, CEO of Samaritan Pharmaceuticals stated "After a long and extensive search for the right contract research organization (CRO) to perform preclinical studies, we found Advinus. This outsourcing research and development agreement, will allow the Georgetown scientists to focus more on drug discovery; as well as, allow Samaritan to strategically focus on out-licensing as a priority, as well as, expeditiously advance our Alzheimer's drug Caprospinol, through the FDA drug development path."
Dr. Rashmi Barbhaiya, CEO of Advinus stated, "With spiraling R&D costs and an ever increasing pressure on time-to-market, Advinus offers unique synergy to biotech companies for developing new drugs while leveraging the India-advantage. We have a group of experienced and talented scientists to support Samaritan's endeavors to convert their molecules into viable clinical candidates in a cost-effective manner."
About Advinus Therapeutics Limited:
Advinus is an emerging Indian company located in Bangalore, India, with deep capabilities in drug discovery and contract services for pharmaceutical companies. It is backed by the Tatas, one of India's largest and most respected business houses, and led by executives with extensive international experience in Pharma R&D. For company information, visit Advinus at www.advinus.com.
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