Company Contact: John F. DeBernardis, Ph.D., President & CEO
Agency Contact: Ira Weingarten/Steve Chizzik
Media Contact: Deanne Eagle
Applied NeuroSolutions Receives U.S. Patent on Alzheimer's Blood Test Technology
Vernon Hills, IL, March 10, 2005 - Applied NeuroSolutions (OTC BB: APNS, www.appliedneurosolutions.com), headquartered here, said today a U.S. patent (U.S. Patent number 6,864,062) was issued covering certain aspects of the Company's Alzheimer's blood diagnostic technology.
Dr. John DeBernardis, APNS President & CEO said "The company is pursuing development of second generation tests for diagnosing Alzheimer's disease ("AD"), and the patent recently awarded supports one of the key methodologies we are focused on."
He said, "Our goal is to develop an accurate blood test that can detect AD at very early stages. A blood test could be suitable for once-a-year screening for all adults over the age of 65. We are very pleased by this addition to our expanding intellectual property portfolio, however, we still have work to do before our blood serum test is ready to be brought to market."
Currently there is no FDA-approved biologic test for AD. The company believes the market potential for biologic tests to diagnose AD is quite large, and will depend upon several factors including the accuracy and cost of the test, ease of use, how early it is able to predict the disease, and the development of more effective drugs to slow down the progression of AD.
Dr. DeBernardis said that APNS, working in coorporation with Dr. Peter Davies and Albert Einstein College of Medicine, has already completed development of a highly accurate cerebrospinal ("CSF") diagnostic AD test and plans to move this forward toward commercialization.
He said, "In cooperation with major universities in the United States and Europe, the company has run more than 2500 preclinical cerebrospinal samples with an 85 to 95 percent sensitivity and specificity."
APNS also announced in December 2004 it signed a non-exclusive agreement with bioMérieux, S.A. (Euronext: FR0010096479 - BIM) with the aim of bringing to market on a worldwide basis what is expected to be the first definitive biologic test for the diagnosis of AD.
This press release contains forward-looking statements. Applied NeuroSolutions wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. For further information, please visit the company's website at www.appliedneurosolutions.com, and review the company's filings with the Securities and Exchange Commission.