SOURCE: Alzheimer's Drug Discovery Foundation

April 16, 2008 11:47 ET

Alzheimer's Drug Discovery Foundation and Elan Announce Winners of Third Annual Novel Discovery Award Program

NEW YORK CITY, NY--(Marketwire - April 16, 2008) - The Alzheimer's Drug Discovery Foundation (ADDF), a biomedical venture philanthropy, and Elan Corporation, plc (NYSE: ELN), a neuroscience-based biotechnology company, are pleased to announce the winners of their third annual research award program, Novel Approaches to Drug Discovery for Alzheimer's Disease. Four international scientists received a total of $530,000 in grant funding.

The award winners are: Luciano D'Adamio, MD, Founder, Remegenix, Inc.; Alan Kozikowski, PhD, Professor of Medicinal Chemistry and Pharmacognosy, University of Illinois at Chicago; Yung-Feng Liao, PhD, Assistant Research Fellow, Academia Sinica, Taiwan; and Horacio Saragovi, PhD, Professor, Lady Davis Institute for Medical Research, Montréal, Canada. An independent panel of 15 experts from ADDF's Scientific Review Board evaluated 24 applications submitted from the USA, Canada, China, Israel, Taiwan and the United Kingdom. The ADDF/Elan program has provided a total of $1,630,000 in research grants for Alzheimer's disease in the past three years.

"The awards highlight that there are many promising and innovative drug discovery research programs for Alzheimer's disease throughout the world," said ADDF Executive Director Howard Fillit, MD. "Our continued collaboration with Elan enables us to increase our capability to fund these programs."

There are still no new drugs to prevent or slow the rate of progression in Alzheimer's disease. In fact, there are only four drugs on the market that are only mildly effective in treating the symptoms of the disease. The ADDF/Elan awards program aims to accelerate the development of new drugs to treat, prevent or cure the disease.

"Elan is committed to working with forward-thinking organizations like ADDF to bring new therapeutic options to Alzheimer's patients and their caregivers," said Lars Ekman, MD, PhD, Member of the Board of Directors and past President of Global Research and Development, Elan. "We are dedicated to making tangible progress in the fight against this disease and are proud to support the work of this year's award recipients."

The four scientists were honored at the 3rd Annual ADDF/Elan Alzheimer's Disease Drug Discovery Awards luncheon, held at the Explorers Club in New York City. The event emphasized the urgent need to fund more scientists conducting early-stage high risk research in Alzheimer's disease.

"The luncheon is a wonderful opportunity to meet the scientists who work so passionately to improve the lives of those suffering from Alzheimer's disease," said ADDF Board President Nancy Corzine, who co-hosted the event with Dr. Ekman. "With each award presented, we get one step closer to finding a cure."

About the Alzheimer's Drug Discovery Foundation (ADDF)

ADDF is the only public charity venture philanthropy solely dedicated to rapidly accelerating the discovery and development of drugs to prevent, treat and cure Alzheimer's disease and cognitive aging. To date, ADDF and its affiliate, the Institute for the Study of Aging, have awarded over $30 million to 244 research programs and conferences throughout the world. For more information, please visit our website at: www.AlzDiscovery.org

About Elan

Elan Corporation, plc (NYSE: ELN) is a neuroscience-based biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Our effort to develop treatment alternatives for patients and caregivers suffering from Alzheimer's disease includes research programs focused on modifying or halting the progression of the disease. Our clinical development candidates for Alzheimer's disease include immunotherapeutic approaches, in collaboration with Wyeth, and a small molecule program, in collaboration with Transition Therapeutics. For additional information about the company, please visit www.elan.com

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