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Intellect Neurosciences, Inc. Grants to Top Tier Global Pharmaceutical Company an Option to License Certain Alzheimer's Patents and Patent Applications
Date:10/8/2008

Agreement Follows Recent Grant by Intellect of License to Wyeth (NYSE: WYE) and Elan Pharma International Ltd.

NEW YORK, Oct. 8 /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 entered into an Option Agreement with a top-tier global pharmaceutical company regarding the right to purchase a license to certain of Intellect's patents and patent applications related to antibodies and methods of treatment for Alzheimer's disease.

Intellect is entitled to an option fee upon execution of the Option Agreement. In addition, Intellect will be entitled to fees, and may be entitled to milestone payments and royalties from potential future drug sales, upon exercise of the Option by the licensee. Recently, Intellect received its first milestone payment under its license agreement with Wyeth and Elan related to this patent family 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 pleased to enter into this second agreement with a top-tier global pharmaceutical company for our patent estate relating to the use of antibodies to combat Alzheimer's disease. Alzheimer's patients need strong and capable partners in their fight to overcome this devastating disease. We believe that several therapeutic agents may be necessary to fully treat the AD population and that our licensing efforts, together with our internal development programs, will increase the likelihood of developing safe and effective therapies, as well as provide Intellect's stakeholders with financial rewards."

About Intellect's Immunotherapy Platforms for Alzheimer's disease

Intellect's immunotherapy platforms aim to
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SOURCE Intellect Neurosciences, Inc.
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