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Intellect Neurosciences, Inc. Issues Letter to Shareholders From Its Chairman and CEO
Date:11/21/2008

1 clinical trials and progressed further with the development of OXIGON(R), a small molecule intended for the treatment of AD and other disorders, including Parkinson's disease and other neurodegenerative diseases. Our development of OXIGON(R) was partially supported with federal funding from the National Institutes of Aging. We anticipate starting Phase 2 trials in AD patients next year.

3. Leverage our investment in our technology platforms:

  • We granted a non-exclusive, worldwide, royalty-bearing license to our ANTISENILIN(R) AD monoclonal antibody platform to Wyeth and Elan Pharmaceuticals. The license grants rights to Wyeth and Elan under Intellect's patents with respect to the development and sale of Bapineuzumab, a monoclonal antibody intended to treat AD. Wyeth and Elan are currently testing Bapineuzumab in several thousand Alzheimer's patients in a Phase 3 clinical trial. If successful, the drug could be launched early in 2012. Bapineuzumab has enormous sales potential as the first disease modifying drug in the field of AD and Intellect is entitled to a significant royalties on any future sales. The grant of this first license under our ANTISENILIN(R) patents was of great significance because it validated and established the value of our technology and of our business model that calls for broad licensing of our technology.

  • We recently granted an option to acquire a similar non-exclusive license to the ANTISENILIN(R) patents to another top tier pharmaceutical company that is developing its own monoclonal antibody for AD. The drug is currently being tested in humans. We are entitled to an upfront payment if and when this pharmaceutical company exercises the option in the first quarter of 2009 as well as patent milestones and royalties from sales. We are in discussions to grant additional licenses to oth
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SOURCE Intellect Neurosciences, Inc.
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