PharmatrophiX, Initially Funded by the Alzheimer's Drug Discovery Foundation, Announces Exclusive Global Collaboration...(in cells (p75) protecting the cell from ...)

Date:8/6/2009

in cells (p75), protecting the cell from damage caused by the toxic amyloid molecules associated with Alzheimer's disease, but not induce the side effects triggered by the much larger natural biologic molecules. Out of the more than one million small molecules he studied, he ultimately found 4 that protected the cells and that had profiles suitable for further drug development. Once these molecules were identified, Dr. Longo formed PharmatrophiX as a biotech company in order to partner with industry.

PharmatrophiX is funded through a special hybrid investment vehicle begun by ADDF eighteen months ago - the Fund for Alzheimer's Drug Discovery. This novel philanthropic funding program is modeled after a traditional, "for profit" venture capital fund. It allows individual donors to participate more directly in accelerating drug discovery for Alzheimer's disease with greater accountability of their donations and potential for a return on investment that can further more research. Ninety-eight percent of the dollars in this fund go directly to drug discovery.

Using this "venture philanthropy" model, the foundation has supported more than 250 drug discovery programs, with 40% of these having advanced forward at least two key stages in the drug development process.

"This work we are supporting at PharmatrophiX is truly revolutionary and shows great promise in preventing and treating this terrible disease," says Dr. Fillit. "And this all started with an idea from Frank Longo that many thought was a little improbable. But ADDF is able to take chances on high-risk ideas - we know that this is often where the best solutions come from."

"And PharmatrophiX's exclusive collaboration with a major biotechnology company like Elan validates our funding to PharmatrophiX, and it underlines the significant impact of Dr. Longo's discovery in the field of Alzheimer's drug development," says Dr. Fillit.

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SOURCE Alzheimer's Drug Discovery Foundation Copyright©2009 PR Newswire. All rights reserved

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