Axonyx Acquires Technology to Identify New Agents to Inhibit Beta Amyloid in Alzheimer's Disease.Business & Technology Editors/Health & Medical Writers NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & MELBOURNE, Australia--(BUSINESS WIRE)--Sept. 24, 2002 Axonyx Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AXYX) announced today that it has entered into an Agreement with David Small, Ph.D. (Head, Laboratory of Molecular Neurobiology Neurobiology Study of the development and function of the nervous system, with emphasis on how nerve cells generate and control behavior. The major goal of neurobiology is to explain at the molecular level how nerve cells differentiate and develop their at the University of Melbourne
In 2006, Times Higher Education Supplement ranked the University of Melbourne 22nd in the world. Because of the drop in ranking, University of Melbourne is currently behind four Asian universities - Beijing University, ), M-I. Aguilar, Ph.D. and Ms. S. Subasinghe covering a process targeted at identifying early biochemical events associated with beta amyloid amyloid /am·y·loid/ (am´i-loid) 1. starchlike; amylaceous. 2. the pathologic, extracellular, waxy, amorphous substance deposited in amyloidosis, being composed of fibrils in bundles or in a meshwork of polypeptide toxicity. In addition, this process has confirmed the central role of beta amyloid binding as a key pathological event in nerve cell nerve cell n. 1. See neuron. 2. The body of a neuron without its axon and dendrites. membrane damage. The accumulation of beta amyloid in the brain has long been perceived as one of the major causes of the development of Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. (AD). Recent data from Dr. Small's laboratory has shown that there is a strong correlation between the binding of beta amyloid to cell membranes and the resulting damage. This pathological binding is presumed to be a key event underlying the increased loss of nerve cells that results in memory and cognition impairment in AD patients. This acquisition moves Axonyx into a position to further the discovery of potential AD drug candidates that intervene in the damage caused by beta amyloid. Compounds that could be expected to be identified by this process include amyloid aggregation inhibitors, and inhibitors of amyloid-membrane binding. Dr. Small elaborated, "This process is based on a technique known as "Surface Plasmon Resonance The excitation of surface plasmons by light is denoted as a surface plasmon resonance (SPR) for planar surfaces or localized surface plasmon resonance (LSPR) for nanometer-sized metallic structures. ". Using this approach, it should be possible to quickly show that certain drugs or platform technologies have a specific action on the damage caused by amyloid and may become candidates for the treatment of Alzheimer's disease." "As many of our compounds for Alzheimer's have been shown to inhibit the production of beta amyloid, we are pleased that this technology further confirms in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. the central role of amyloid in cell damage," stated Marvin S. Hausman, MD, President and Chief Executive Officer. "We intend to make this process, a potential high through-put screen, available to pharmaceutical companies that have large libraries with as yet undiscovered potential drug candidates to treat various neurodegenerative diseases neurodegenerative diseases diseases characterized by neurodegeneration. Lesions are microscopic only but in chronic disease with massive involvement there may be grossly visible atrophy of affected nervous tissue. ." Axonyx has also entered into a three-year consulting agreement and a research agreement with Dr. Small. Under the terms of the Assignment Agreement, Axonyx will pay royalties on the revenue derived from the use of the process covered by the patent application on this invention. This latest acquisition has sharpened Axonyx's strategic focus on the therapeutic side of Alzheimer' disease and, as a result, the company will seek to out-license or cancel its option on the diagnostic markers it acquired from the University of Melbourne in 1999. About Axonyx Axonyx Inc. is a U.S.-based biopharmaceutical company engaged in the acquisition and development of proprietary pharmaceutical compounds and new technologies useful in the diagnosis and treatment of Alzheimer's disease, human memory disorders and prion-based illnesses such as Mad Cow Disease mad cow disease: see prion. mad cow disease or bovine spongiform encephalopathy (BSE) Fatal neurodegenerative disease of cattle. Symptoms include behavioral changes (e.g. . This press release may contain forward-looking statements or predictions. These statements represent our judgment as of this date and are subject to risks and uncertainties that could materially affect the Company, including those risks and uncertainties described in the documents Axonyx files from time to time with the Securities and Exchange Commission, specifically Axonyx's Annual Report on Form 10-K and its quarterly reports on Form 10-Q. Among other things, Axonyx cannot assure that the screening process will prove successful, that the screening process will prove patentable, that the acquisition of the technology will enable Axonyx to further the discovery of AD drug candidates, that regulatory authorities will approve the use of the screening process, that any pharmaceutical company will seek a license of the screening process or that Axonyx will be able to out-license its diagnostic biomarkers acquired from the University of Melbourne. Axonyx undertakes no obligation to publicly release the result of any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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