Company Contact: John F. DeBernardis, Ph.D., President & CEO
Agency Contact: Ira Weingarten/Steve Chizzik
Media Contact: Jeff Siegel, Monarch Communications
(917) 837- 5866
Applied NeuroSolutions' Diagnostic Alzheimer's Disease Test Focus of Story on CBS News TV Stations
Vernon Hills, IL, August 3, 2005 -
A diagnostic test developed by Applied NeuroSolutions, Inc. (OTC BB: APNS, www.appliedneurosolutions.com) to detect the early onset of Alzheimer's disease was the subject of a "Healthwatch" story on WCBS-TV in New York last week, the company said.
The story, which aired last week on CBS2 News in New York at 5:00 pm and is being picked up by CBS affiliates across the country, called the cerebrospinal fluid (CSF) test assay "a promising new test for Alzheimer's" and noted the importance of detecting the disease early on, when it may be possible to stall or slow the progression of the disease. The story can be viewed by accessing the following link: http://wcbstv.com/video/[email protected]
Dr. Peter Davies, founding Scientist of Applied NeuroSolutions and the Judith and Burton P. Resnick Professor of Alzheimer's Disease Research at Albert Einstein College of Medicine (AECOM), was quoted throughout the piece and noted that the company's test is "very good, (with) 85-95 percent agreement with the clinical diagnosis."
Applied NeuroSolutions has a long-term agreement with AECOM that gives it the exclusive licensing rights to commercialize Dr. Davies' Alzheimer's related discoveries.
Dr. John DeBernardis, President and CEO of Applied NeuroSolutions, said, "We are very pleased that the media is taking note of the importance of our diagnostic test to detect Alzheimer's disease. This is especially important because there are no diagnostic tests currently available, and the disease is so often confused with other neurological disorders." Dr. DeBernardis continued, "We are hoping to finalize a deal with a clinical reference laboratory in order to make our test available under a CLIA exemption. This would make the test available as a research tool prior to FDA approval. We anticipate starting our clinical trials, leading towards FDA approval, before year end."
Applied NeuroSolutions, Inc. is developing products to diagnose and treat Alzheimer's disease based on a novel hypothesis of AD 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.
There are currently no FDA-approved diagnostic tests to detect Alzheimer's disease.
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.