Applied NeuroSolutions Achieves Q2 2008 Alzheimer's Disease Serum Diagnostic Development Program Milestone

Main Category: Alzheimer's / Dementia
Article Date: 03 Jul 2008 - 5:00 PDT

email to a friend   printer friendly   opinions  

Applied NeuroSolutions, Inc. (OTC BB:APNS), a biotechnology Company focused on the development of products for the early diagnosis and treatment of Alzheimer's disease ("AD"), today announced the achievement of a key milestone directed to a multi-product program to develop serum-based diagnostic tests for Alzheimer's disease.

APNS has successfully achieved its Q2 milestone with the creation of proprietary tau based tools required for development of a serum-based test to support the diagnosis of AD. This builds on the company's Q1 2008 milestone in which tools were identified to support advancing their development of a diagnostic test to 'rule out' AD.

The Company's strategy to develop serum-based diagnostic tests includes identification of external resources that can leverage APNS's proprietary tools. APNS has identified specialized technology companies that meet the Company's criteria. As a next step, APNS will be collaborating with these companies to combine tools, technology and know how to focus on achievement of a Q4 2008 milestone to establish the feasibility of both a 'rule out' and a 'rule in' serum-based diagnostic test for AD.

There is a significant unmet need for an easy to administer, reliable and cost effective AD diagnostic test as patients with a neurodegenerative disease such as AD are likely to benefit most from early diagnosis and treatment. The population at risk of the disease continues to grow. It is estimated that over 5 million people in the U.S. currently have AD (30 million worldwide) and that 10 million baby boomers will develop AD in their lifetime. Currently there are more than 50 million people over age 60 in the U.S., and this number is expected to steadily increase due to the aging baby boomer population. The availability of a reliable blood test that could be used as an annual screening tool for AD yields estimates for the global market that could exceed $1 billion.

Commenting on the Company's recent milestone achievement, Ellen R. Hoffing, APNS's Chairman, President and Chief Executive Officer, stated "I am pleased that we have successfully passed our first and second quarter, 2008 serum diagnostic program milestones. Utilizing these new proprietary tools, we are on track to advance our tau based serum diagnostics and achieve an important Q4 milestone. We look forward to continuing to meet our diagnostic program goals as well as the milestones for our drug development collaboration with Eli Lilly and Company and ultimately play a significant role in providing novel solutions for Alzheimer's patients."

For further information please visit the company's website at http://www.AppliedNeuroSolutions.com, and review the company's filings with the Securities and Exchange Commission.

About Applied NeuroSolutions

Applied NeuroSolutions, Inc. (OTC BB:APNS) is developing diagnostics and therapeutics to detect and treat Alzheimer's disease (AD) building on discoveries originating from the Albert Einstein College of Medicine. Applied NeuroSolutions is in a collaboration with Eli Lilly and Company to develop novel therapeutic compounds to treat the progression of AD. For the diagnostic pipeline, Applied NeuroSolutions is focused on both cerebrospinal fluid (CSF) and serum tests to detect AD at a very early stage. The P-Tau 231 test now being offered for use in clinical trials can effectively differentiate AD patients from those with other neurological diseases that have similar symptoms. There is currently no FDA approved diagnostic test to detect AD. Alzheimer's disease currently afflicts over five million Americans, and the world market for AD therapy is currently estimated to be 30 million patients. For more information, visit http://www.AppliedNeuroSolutions.com

This press release contains forward-looking statements about Applied NeuroSolutions. The company 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 http://www.AppliedNeuroSolutions.com, and review the company's filings with the Securities and Exchange Commission.

Applied NeuroSolutions

• Additional
• References
• Citations