July 05, 2005 11:15 ET

Nymox Signs Marketing and Distribution Deal for AlzheimAlert™ Kit in Greece

MAYWOOD, N.J.--(CCNMatthews - Jul 5, 2005) -

Nymox Pharmaceutical Corporation (NASDAQ:NYMX) announced today that it has entered into an agreement with B. Caravitis S.A. for the marketing and sales of Nymox's AlzheimAlert™ product in Greece. AlzheimAlert™ provides physicians with a valuable tool for the diagnosis of Alzheimer's disease by measuring levels of a biomarker for Alzheimer's disease in patient urine samples. Founded in 1985, B. Caravitis S.A. is a member of the Zafiropoulos-Caravitis Group of companies, which provides nation-wide coverage to the medical diagnostics and research community in Greece.

"We are delighted to be working with B. Caravitis S.A. to make the AlzheimAlert™ kit available to physicians and laboratories in Greece," said Brian Doyle, Nymox's Senior Manager for Worldwide Sales and Marketing. "We continue to make inroads in the European market with agreements in place with major distributors in Italy and the Czech Republic as well."

The Zafiropoulos-Caravitis Group is a market leader in sale and marketing of scientific technology. and also operates a manufacturing facility for clinical chemistry products for a significant portion of the Greek market.

Nymox recently announced the certification of its AlzheimAlert™ test kit with a CE Mark, making the device eligible for sale in the European Union. The Company announced that it has fulfilled the required regulations which will allow European clinical and hospital laboratories to perform the AlzheimAlert™ test in their own facilities in Europe. The CE Marking indicates that a product complies with EU safety, environmental, and quality standards. Nymox has satisfactorily completed the testing and registration required to obtain CE Marking for the AlzheimAlert™ test kit device.

A landmark new report by the World Health Organization for the European Union has identified Alzheimer's disease as a major healthcare priority for Europe. The WHO study, Priority Medicines for Europe and the World, identifies health gaps and potential solutions, taking into account in particular Europe's aging population. A major concern emphasized by the report was for technology for the diagnosis of Alzheimer's disease.

According to a recent study (Arch Neurol 2003; 60: 1119-1122), there are 4.5 million people with Alzheimer's disease in the United States alone; by 2050 this number is projected to increase almost three times to 13.2 million. Worldwide estimates of the current number of people with Alzheimer's disease range from 15 to 20 million. The annual national direct and indirect costs of caring for Alzheimer patients in the U.S. alone is estimated at $100 billion. The human toll on patients, families and caregivers is incalculable.

Nymox Pharmaceutical Corporation is a biotechnology company engaged in the research and development of therapeutics and diagnostics, with a particular emphasis on products targeted for the unmet needs of the aging population. Currently Nymox has three products on the market, and a healthy pipeline of drug and diagnostic products. The Company also has several hundred patents and patent applications. Nymox offers AlzheimAlert™, a test to aid in the diagnosis of Alzheimer's disease. The Company has successfully completed two U.S. Phase 1 and Phase 1-2 clinical trials for NX-1207, its drug for benign prostatic hyperplasia (BPH). The Company markets NicAlert™ and TobacAlert™ tests for measuring tobacco product exposure. Nymox has a number of other drugs in development for Alzheimer's disease, oncology, and infectious disease.

More information about Nymox is available at www.nymox.com, email: info@nymox.com, or 800-936-9669.

This press release contains certain "forward-looking statements" as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in Nymox's filings with the United States Securities and Exchange Commission and other regulatory authorities.

Contact Information

  • Nymox Pharmaceutical Corporation
    Roy Wolvin, 1-800-93NYMOX