NEW YORK and STOCKHOLM, Oct. 3, 2012 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment of proteinopathies, and iNovacia, leading experts in compound screening, announced today they have entered into a Research Service Agreement to evaluate preclinical compounds for the drug optimization and selection program for Intellect's antibody drug conjugate, CONJUMAB-A, which is being developed for age related macular degeneration (AMD).
CONJUMAB-A is anticipated to counter the neurotoxic effects of amyloid beta accumulation and to promote its clearance away from tissues where it causes damage. iNovacia will perform a series of in vitro tests to evaluate compounds, which are designed to allow Intellect to select the optimal drug candidate for further development.
"CONJUMAB-A will be a first-in-class drug compound intended to address an important unmet need in AMD, which is the leading cause of blindness in people over the age of 55. We believe the antibody drug conjugate will show improved efficacy compared to the naked amyloid beta antibodies currently in clinical development for AMD. iNovacia has significant expertise in compound screening, including assay development, and we are confident in their ability to conduct these important studies and deliver data in a timely manner," said Daniel Chain, Ph.D., chairman and CEO of Intellect. "Based on recent discussions with global pharmaceutical companies that have expressed interest in the CONJUMAB-A program, we foresee near-term opportunities for potential partnership."
"We look forward to our inaugural collaboration with the team at Intellect Neurosciences, with the hope that we might continue to work together on future compounds," said Dr. Thomas Olin, CEO of iNovacia. "We have established a successful track record with several pharmaceutical and biotechnology customers in the United States and in Europe and are anxious to provide value to Intellect as well."
About CONJUMAB-A
The CONJUMAB platform empowers monoclonal antibodies targeting amyloidogenic proteins with additional neuroprotective properties by combining them chemically with a small molecule, such as an antioxidant. CONJUMAB-A, the first compound from this platform, is a monoclonal antibody specific for beta amyloid conjugated to melatonin, which is recognized as a potent antioxidant. Beta amyloid, when it accumulates in the retina of the eye, causes damage by oxidative stress. The conjugate is anticipated to increase the therapeutic window for melatonin to protect retinal epithelial cells, promote clearance of beta-amyloid away from sites of damage, and avoid potential off-target side effects. CONJUMAB-A also may have potential applications for diabetic retinopathy, glaucoma, traumatic brain injury, and Alzheimer's disease.
About Intellect Neurosciences
Intellect Neurosciences, Inc., develops innovative approaches aimed at arresting or preventing Alzheimer's disease and other neurodegenerative diseases, with a specific focus on proteinopathies. Intellect's pipeline includes therapeutic vaccines, antibodies and neuroprotective antibody drug conjugates.
For more information, please visit www.intellectns.com.
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About iNovacia
iNovacia provides high-throughput screening (HTS), fragment-based screening (FBS) and other drug discovery services to translate targets into validated leads for pharmaceutical and biotech companies. Enabled by a proprietary 300,000 compound library of highest international standard, unique biophysical tools for characterization of mode-of-action and structure-activity relationships, iNovacia mitigates technical risk, minimizes lead-time and optimizes quality of drug discovery projects. iNovacia is a wholly owned subsidiary of Kancera AB (Nasdaq OMX Stockholm First North, KAN).
Safe Harbor Statement Regarding Forward-‐Looking Statements:
The statements in this release and oral statements made by representatives of Intellect Neurosciences 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, 2011, and in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2012, which was filed on May 14, 2012.
Contact for Intellect Neurosciences: Jules Abraham Principal JQA Partners, LLC 917-885-7378 jabraham@jqapartners.com