Intellect Neurosciences, Inc. (ILNS.OB) Obtains EU Patent for ANTISENILIN® Monoclonal Antibody
Source: http://Blog.QualityStocks.net/?p=11543Posted on Saturday, August 2nd, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Intellect Neurosciences, Inc. (ILNS.OB), a development-stage biopharmaceutical company engaged in the discovery and development of therapeutic agents designed to slow, arrest and ultimately prevent Alzheimer’s disease and other serious disorders, recently announced it has obtained a European patent for ANTISENILIN®, a monoclonal antibody platform for the treatment of Alzheimer’s disease.
Intellect Neurosciences’ ANTISENILIN® monoclonal antibody technology is currently being used by major pharmaceutical companies with products already in advanced clinical development. The claims of the issued patent cover the ANTISENILIN® “free-end specific†antibodies that bind to beta amyloid and use of the antibodies in preventing or inhibiting the progression of Alzheimer’s disease. It is estimated that there are more than 5 million people in the United States and approximately 30 million individuals worldwide who suffer from Alzheimer’s disease and these numbers are expected to increase dramatically as the global population ages.
In addition to the European patent, Intellect Neurosciences was recently granted a royalty-bearing license to Wyeth and Elan Pharma International Ltd. regarding patents and patent applications related to antibodies and methods of treatment for Alzheimer’s disease, including Bapineuzumab, which is currently in Phase 3 clinical trials. This license agreement will generate royalties based on product sales in Europe, in addition to Japan and other countries.
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