SOURCE: BioMedReports

BiomedReports

July 14, 2010 09:45 ET

Four Big Pharmas Bet Big on Intellect Neurosciences' Platform to Treat Alzheimer's Disease

LOS ANGELES, CA--(Marketwire - July 14, 2010) -  Intellect Neurosciences (OTCBB: ILNS), a very small, publicly traded micro-cap company which was, until just recently, in debt and struggling to survive, is now in line for a chunk of the profits from the $20+ billion Alzheimer's Disease space.

A newly published report reveals for the first time how Pfizer, Wyeth, Elan, and Johnson and Johnson have all focused on attacking the illness by licensing and devloping a protected platform technology from Intellect Neurosciences.

"We believe that we have an approach that has the high potential to succeed because it targets a very primary point in Alzheimer's disease," said Dr. Daniel G. Chain Ph.D., Chairman and Chief Scientific Officer of ILNS. "We also believe that drugs which have the potential to slow down or arrest Alzheimer's disease are on the horizon now. We're much closer than we have been, previously."

Chain's father, Ernst Chain M.D. discovered how penicillin could be used as a dramatically effective, life-saving antibiotic. For his work, the elder Chain shared the Nobel Prize with the better-known Dr. Alexander Fleming and Chain's head of department, Howard Florey in the 1940s.

Now, some of the biggest pharmaceutical companies in the world may help Dr. Chain become known as the scientist who discovered what may prove to be not just a treatment for the symptoms -- but a way to stop or even prevent -- Alzheimer's disease.

"I'll never forget it -- the date was November 10, 1996," Chain explains. "I woke up on this unsuspecting Sunday morning with an idea for a potential therapy for Alzheimer's Disease. It just crystallized in my mind on that morning -- a way to prevent the accumulation of the toxin that floats in brain fluid."

Details about the sizable license agreements, which are scheduled to pay Intellect a mid-single digit royalty upon reaching certain milestones in the development and patent process, had never been published until now. Bound by non-disclosure agreements and strict corporate gag orders, not even Intellect Neurosciences has been allowed to publicly discuss key details of the agreements to their own investors.

"The company today has a very special value proposition," says Chain. "We have royalty bearing licenses. Some of the details are confidential but someone could potentially connect their own dots by looking closely through our filings with the SEC."

According to BioMedReports, as the company eliminated and converted their debt, they issued millions of new shares, but a vast majority of those shares are held by insiders who are subject to a one year lockup that expires on April 23, 2011 and prevents them from selling their shares.

According to the latest statistics, in America alone, 5.3 million people have Alzheimer's and those numbers are expected to double in the next thirty years.

Thus far, the U.S. Food and Drug Administration has approved only two types of medications for Alzheimer's and both only seek to treat the cognitive symptoms of the disease, not the disease itself.

Investors can find the full report and read details about these developments at BioMedReports.Com

Biotech investors interested in accessing the news portal's complete database of clinical trials and upcoming FDA decisions can access that information here:

http://biomedreports.com/fda-calendar/fda-calendar.html

About BioMedReports.Com
BioMedReports.com is a news portal covering the biomedical news and financial sector. BioMedReports is not paid or compensated to report the news and developments of publicly traded companies.

For more biomedical sector and investment news go to http://BioMedReports.com

Contact Information

  • Media Contacts Only:
    Mary Davila
    Assistant Editor
    BioMedReports.Com
    e-mail: Email Contact
    Tel: +1 323 472 4480
    Fax: +1 888 210 3556