Neurokine Pharmaceuticals Inc.
OTC Bulletin Board : NEUKF

Neurokine Pharmaceuticals Inc.

May 02, 2011 09:01 ET

Neurokine Pharmaceuticals Inc., Company Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2011) - Neurokine Pharmaceuticals Inc. (OTCBB:NEUKF) is pleased to provide a corporate update to current and prospective shareholders.

During the past six months, Neurokine has made significant progress to advance its clinical programs to enhance the effects of current pharmaceuticals for the eventual treatment of Alzheimer's disease.

  • The company completed its plans to conduct Phase II clinical trials to test the effects of NK-001 in the treatment of Alzheimer's-type memory loss in patients who are undergoing coronary artery bypass graft (CABG) surgery.
  • Neurokine signed a contract with U.K.-based Clinical Investigations Group (CIG) to conduct Phase II clinical trials to study the effects of NK-001 in protecting patients against Alzheimer's-type memory-loss side effects of coronary artery bypass graft (CABG) surgery.
  • It completed the inspection and site selection of five clinical investigations with cardio surgery and psychiatry expertise centers to conduct NK-001 Phase II studies.
  • The company completed two rounds of financing totalling $250,000, which consisted of $100,000 of convertible equity and $150,000 of short-term debt.

Management is also pleased to report that by August 31, Neurokine expects to complete private placement equity financing; obtain approval for the Phase II clinical trials of NK-001; complete larger scale preparation and optimization of NK-002 (Liposomal encapsulated NK-001) formulation; and complete trials to test blood brain barrier (BBB) penetration improvement of NK-002.

About Neurokine

Neurokine Pharmaceuticals Inc., focuses on the development of new uses for existing marketed products for diseases mediated by acute and chronic inflammatory reactions. The company is developing proprietary encapsulation technology to allow better blood brain barrier penetration to initiate or enhance therapeutic effects of anti-inflammatory drugs in the treatment of neurodegenerative diseases, such as Alzheimer's. To date, Neurokine has identified three products as ideal candidates for development:

  • NK-001 for the potential treatment of neurocognitive impairment in post-coronary artery bypass graft (commonly known as "CABG" or "heart bypass" surgery) patients;
  • NK-002 for the potential treatment of Alzheimer's disease; and
  • NK-003 for the potential treatment of discogenic back pain. Discogenic back pain is pain which originates from nerve endings inside the outer layers of a spinal disc.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Neurokine or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the level of business and consumer spending, the amount of sales of Neurokine's products, the competitive environment within the industry, the ability of Neurokine to continue to expand its operations, the level of costs incurred in connection with Neurokine's expansion efforts, economic conditions in the industry, and the financial strength of Neurokine's customers and suppliers. Neurokine does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

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