SOURCE: Institute for the Study of Aging

July 26, 2005 16:25 ET

Institute for the Study of Aging Receives Generous Donation From Elan Pharmaceuticals to Create a New Alzheimer's Disease Research Program

NEW YORK CITY, NY -- (MARKET WIRE) -- July 26, 2005 -- The Institute for the Study of Aging (ISOA), Ltd., a public charity founded by the Lauder family, is pleased to announce the creation of a new research award program entitled Novel Approaches to Drug Discovery for Alzheimer's Disease that is being made possible through a donation from Elan Pharmaceuticals, Inc., a neuroscience-based biotechnology company, and funds from ISOA. The goal of this three-year program is to catalyze and fund academic and biotechnology industry scientists worldwide to conduct research leading to the discovery of effective therapies for Alzheimer's disease.

Approximately 12 scientists will be awarded one-year research grants over the three-year program. ISOA will be the sole administrator of the program supported by a scientific advisory committee. Scientists will be invited to apply through an online application process available at ISOA's website: www.aging-institute.org. The deadline for the first-year grant submission is October 14, 2005, and funding will be awarded in January 2006.

"We are grateful for Elan's commitment to advancing the discovery and development of new treatments for Alzheimer's disease," remarked ISOA Executive Director Howard Fillit, MD, who will lead this effort. "Their foresight and generosity enables the ISOA to expand its program, fund more scientists, and make an even greater contribution to bridging the global funding gap for drug discovery research that will ultimately improve the lives of millions of people."

"Disease-modifying treatments that can potentially halt or reverse Alzheimer's disease are essential if we are to address an impending crisis in our society," said Dale Schenk, Chief Scientific Officer, Elan Pharmaceuticals, Inc. "Elan is pleased to work with the ISOA, a leader in accelerating the development of therapies that will eventually make a tremendous difference in the lives of Alzheimer's patients and their families. Our goal in establishing this important research program is to continue to encourage all efforts to accelerate the development of disease modifying treatments for this devastating disease."

About Alzheimer's Disease

Over 16 million Americans suffer with Alzheimer's disease, mild cognitive impairment, and age-related cognitive decline. Alzheimer's disease alone costs U.S. society over $100 billion annually, making it the third most costly disease after heart disease and cancer. As the baby boomers retire, the number of people with Alzheimer's disease is expected to increase from 4.8 million to 14 million by 2050. Four drugs are currently in the market that relieve patients of symptoms suffered from Alzheimer's. No drugs are available to address the underlying degenerative process.

About the Institute for the Study of Aging (ISOA)

The Institute for the Study of Aging (ISOA) is a biomedical venture philanthropy whose sole mission is to accelerate the discovery and development of new drugs to prevent, treat and cure Alzheimer's disease and related dementias. Since its founding as a private foundation by the Lauder family in 1998, ISOA has awarded $22.7 million for 133 research programs and conferences at leading academic institutions and biotechnology companies worldwide. In 2004, the Lauder family established a public charity, ISOA, Ltd., to enable individuals, foundations and corporations to partner with the Institute in an effort to raise additional funds and award more grants. For more information, visit http://www.aging-institute.org, or call Howard Fillit, MD (Executive Director) or Suzanne Grossberg (Director of Development) at 212 935 2402.

About Elan Pharmaceuticals, Inc.

Elan Pharmaceuticals, Inc. is a wholly owned subsidiary of Elan Corporation, plc (NYSE: ELN). Elan is a neuroscience-based biotechnology company. We are committed to making a difference in the lives of patients and their families by dedicating ourselves to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. We continue to be dedicated to developing treatment alternatives for patients and caregivers suffering from Alzheimer's disease. Currently our research programs include four approaches to modifying or halting the progression of the disease. Two of these programs are in collaboration with Wyeth, focused on immunologic approaches to treating the disease. One of the programs that focuses on halting the progression of the disease through humanized monoclonal antibodies is in Phase II clinical trials. Elan shares trade on the New York, London and Dublin Stock Exchanges. For additional information about the company, please visit http://www.elan.com, or call Davia Temin at 212 588 8788.

Contact Information

  • ISOA Contact:
    Suzanne Grossberg
    Director of Development
    (212)901-8008
    Email Contact