Intellect Neurosciences, Inc. Grants to Top Tier Global Pharmaceutical Company License to Certain Alzheimer's Patents and Patent Ap...( NEW YORK Jan. 7 /- Intellect Neurosci...),Health
NEW YORK, Jan. 7 /PRNewswire-FirstCall/ -- Intellect Neurosciences, Inc. (OTC Bulletin Board: ILNS), a biopharmaceutical company focused on development of disease-modifying therapeutic agents for the treatment and prevention of Alzheimer's disease (AD), announced today that it has granted a non-exclusive License to a top-tier global pharmaceutical company regarding certain of Intellect's patents and patent applications related to antibodies and methods of treatment for Alzheimer's disease and to make, have made, use, sell, offer to sell and import certain licensed products. The grant of the License follows the exercise by this top-tier global pharmaceutical company of the option (the "Antibody Option") that it acquired from Intellect pursuant to an Option Agreement executed by Intellect and the top-tier global pharmaceutical company (the "Optionee") in October 2008.
Intellect is entitled to a license fee upon the exercise of the Antibody Option by the Optionee. In addition, Intellect may be entitled to future patent based milestone payments and royalties from potential future drug sales by the Optionee. Recently, Intellect received its first milestone payment under its license agreement with Wyeth (NYSE: WYE) and Elan Pharma International Ltd. (NYSE: ELN) as a result of obtaining the grant of a European patent and may be entitled to additional payments from Wyeth and Elan in the future.
Dr. Daniel Chain, Intellect's Chairman and CEO and inventor of the licensed patents and patent applications, commented: "We are gratified to see our approach being used by major pharmaceutical companies to combat Alzheimer's disease. Alzheimer's patients need strong and capable partners in their fight to overcome this devastating disease and we are p
'/>"/>
| SOURCE Intellect Neurosciences, Inc. Copyright©2009 PR Newswire. All rights reserved |
Related medicine news :
1. Intellect Neurosciences, Inc. Validates Pivotal European Patent for Alzheimers Monoclonal Antibody Platform
2. New Book Provides 30-Year Analysis of Financial and Programmatic Trends in Services and Funding for People with Intellectual and Developmental Disabilities in the United States
3. Life Spine Announces Acquisition of Intellectual Property
4. Intellect Neurosciences, Inc. Grants to Top Tier Global Pharmaceutical Company an Option to License Certain Alzheimers Patents and Patent Applications
5. Intellectual Property Buildup Seminar to be Held in Detroit
6. Mutant gene causes epilepsy, intellectual disability in women
7. TorreyPines Therapeutics Licenses Intellectual Property from Johns Hopkins Related to Novel Uses of Glutamate Receptor Antagonists for Prevention, Treatment of Stroke, Heart Attack
8. CJPS Enterprises Spins Off New Company for Intellectual Property Marketing
9. Occlutech Wins Confirmation of its Intellectual Property Position Versus AGA Medical Patent by AIPPI
10. John Josef Molenda Joins Firms Intellectual Property Practice as Of Counsel
11. Allarae Healthcare Inc. Announces Signing of Distribution Agreement With Intellect Inc.
| Copyright © 2003-2009 Bio-Medicine. All rights reserved. ABOUT | CONTACT US | DISCLAIMER | PRIVACY POLICY | TERMS AND CONDITIONS |  |