SOURCE: Adeona Pharmaceuticals, Inc.

Adeona Pharmaceuticals, Inc.

September 08, 2009 09:21 ET

Adeona Forms Initial Sales and Marketing Team for Its Copper/Zinc Diagnostic Panel

ANN ARBOR, MI--(Marketwire - September 8, 2009) - Adeona Pharmaceuticals, Inc. (AMEX: AEN), a specialty pharmaceutical company dedicated to the awareness, diagnosis, prevention and treatment of zinc deficiency and chronic copper toxicity in the mature population, today announced the initial formation of its sales and marketing team and pre-launch efforts for its CopperProof serum-based copper/zinc diagnostic panel, which will be offered through Adeona's Hartlab subsidary. The CopperProof panel is a diagnostic test panel intended to provide a comprehensive look at the metabolic serum copper and zinc status of patients with Alzheimer's disease (AD) and mild cognitive impairment (MCI). Defects in copper metabolism and high free copper levels are increasingly being recognized as significant factors in the progression of neurodegenerative diseases, including AD and MCI. A clinical zinc deficiency in AD patients has also been recognized for the first time in a recent Adeona-sponsored clinical study.

In preparation for the near term launch of its Copperproof diagnostic panel, Adeona has begun hiring a sales and marketing team for key markets. These initial efforts are intended to target neurologists, psychiatrists, gerontologists, nursing homes and other physicians and institutions that regularly treat patients with AD and MCI. Adeona intends to continue to build a small specialty sales force of individuals each having extensive experience calling upon these specialty practices.

On July 9, 2009 Adeona completed the acquisition of Hartlab LLC a CLIA-certified clinical reference laboratory located in Bolingbrook, Illinois. On July 15, 2009, Adeona presented the results of the CopperProof 1 Study, a prospective observational study comparing serum parameters of copper and zinc status in patients with Alzheimer's disease, Parkinson's disease and normal subjects, at the 2009 International Conference on Alzheimer's Disease (ICAD) in Vienna, Austria. This study showed a strong correlation between Alzheimer's disease and impaired serum copper binding as well as elevated free (non-ceruloplasmin bound) serum copper levels in AD patients. The study also reported, for the first time, clinical and subclinical zinc deficiency in AD patients.

Max Lyon, Adeona's CEO, stated, "This is a milestone for Adeona. It is our intention to continue to grow the sales and marketing team with individuals having substantial experience in the AD and MCI markets. We consider chronic copper toxicity to be a significantly under-recognized and modifiable risk factor for the progression of AD and MCI. We have also recently completed the first international epidemiological study finding a correlation between copper plumbing tube use and the rates of prevalence of Alzheimer's disease by country and believe that such study lends further support to the growing body of evidence that chronic inorganic copper exposure plays an important role in the progression of Alzheimer's disease. Using Adeona's proprietary, modified oral zinc delivery technologies, Adeona is preparing to initiate the first clinical trial of oral zinc therapy for the once-a-day dietary management of AD and MCI."

About Adeona Pharmaceuticals, Inc.

Adeona Pharmaceuticals, Inc. (AMEX: AEN) is a specialty pharmaceutical company dedicated to the awareness, diagnosis, prevention and treatment of zinc deficiency and chronic copper toxicity in the mature population. Adeona believes that these conditions may contribute to the progression of debilitating degenerative diseases, including, Dry Age-Related Macular Degeneration (Dry AMD), Alzheimer's disease (AD) and mild cognitive impairment (MCI) in susceptible persons. Adeona is also developing a number of late-stage clinical drug candidates for the treatment of rheumatoid arthritis and multiple sclerosis. For further information, please visit www.adeonapharma.com.

This release includes forward-looking statements on Adeona's current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding designing additional clinical trials for its oral zinc therapies, dnaJP1, Zinthionein, flupirtine, or Trimesta. Adeona is at an early stage of development and may not ever have any products that generate significant revenue. Adeona's Hartlab subsidiary is generating modest revenues and its future success will likely depend upon its ability to successfully introduce and market new specialty diagnostic assays to generate additional revenues. Important factors that could cause actual results to differ materially from those reflected in Adeona's forward-looking statements include, among others, a failure of Adeona's product candidates to be demonstrably safe and effective, a failure to obtain regulatory approval for the company's products or to comply with ongoing regulatory requirements, regulatory limitations relating to the company's ability to promote or commercialize its products for awareness, prevention, diagnosis or treatment of zinc deficiency and chronic copper toxicity, a lack of acceptance of Adeona's product candidates in the marketplace, a failure of the company to become or remain profitable, that we will continue to meet the continued listing requirements of the American Stock Exchange (which, unlike other exchanges, does not require us to maintain any minimum bid price with respect our stock but does require us to maintain a minimum of $4 million in stockholders' equity during the current year, for example), our inability to obtain the capital necessary to fund the company's research and development activities, a loss of any of the company's key scientists or management personnel, and other factors described in Adeona's report on Form 10-K for the year ended December 31, 2008, Forms 10-Q for quarters ending in 2009 and any other filings with the SEC. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Adeona undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Contact Information

  • For Further Information Contact:
    Max Lyon
    Chief Executive Officer and President
    (734) 332-7800 x36