Company Contact: John F. DeBernardis, Ph.D., President & CEO
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Jeff Siegel, Monarch Communications
Applied NeuroSolutions Announces Research Program For Novel Approach To Alzheimer's Disease Therapeutics
Vernon Hills, IL, June 6, 2005 - Applied NeuroSolutions Inc. (OTC: APNS, www.appliedneurosolutions.com), a biotechnology company dedicated to solutions for Alzheimer's disease ("AD"), today announced that it is working on a novel approach directed towards new therapeutics to treat AD.
Work on this new therapeutic approach is being led by Dr. Peter Davies, Applied NeuroSolutions' founding scientist, who has been tapped to serve as Scientific Director for a new Alzheimer's Center.
"Current Alzheimer's therapeutics have little chance of meaningfully slowing down the progression of the disease because they attack symptoms and not causes," stated Dr. Davies, who is the Judith and Burton P. Resnick Professor of Alzheimer's Disease Research at Albert Einstein College of Medicine in The Bronx, NY. We are pursuing a more sophisticated approach aimed to block the development of Alzheimer's pathology, which so far has led to the identification of a particular protein as a biomarker to diagnose Alzheimer's disease, and which we think will lead us to the discovery of a compound to drastically slow down the progression of this horrible disease."
"Our therapeutic program is off to a great start, and early indications are very encouraging," said Dr. John DeBernardis, President and CEO of Applied NeuroSolutions. "One of the first key objectives of the program is to show proof of principle to validate the concept. Coupled with our research tools, our diagnostic test, and the transgenic mouse, Dr. Davies' affiliation with the new AD Center provides an eventual means of testing our therapeutic compounds."
"From our shareholders perspective, it is important to note the therapeutic program will require no additional funding from APNS," said David Ellison, CFO of APNS.
"From a scientific point of view," Dr. Davies said, "the therapeutic program is a logical extension of the work APNS and I have been collaborating on for the past 12 years. In this work we have found that a form of tau protein phosphorylated at a particular site is present before the onset of symptoms of AD, and serves as an excellent biomarker to aide the physician confirming a diagnosis."
Dr. DeBernardis concludes, "We believe this research platform represents an entirely new approach, and that the ultimate result will be a new class of therapeutics to address Alzheimer's disease. In combination with the early detection capability of our diagnostic test, we will be able to identify and eventually treat patients before the most destructive symptoms can occur."
Applied NeuroSolutions, Inc. is developing products to diagnose and treat Alzheimer's disease based on a novel hypothesis of AD cause and pathology. In partnership with Dr. Peter Davies and a scientific team at Albert Einstein College of Medicine, Applied NeuroSolutions' has developed a cerebrospinal fluid (CSF) test to detect Alzheimer's disease at a very early stage with 85%-95% accuracy in more than 3,000 patient samples. The company is also developing a blood serum-based screening test, as well as a new class of therapeutics to treat AD. Alzheimer's disease currently afflicts over 4 million Americans, and the market for AD therapy is expected to grow to 21 million patients by 2010 in the seven major pharmaceutical markets (USA, France, Germany, Italy, Spain, U.K. and Japan) according to BioPortfolio, Ltd.
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.