ROCKVILLE, Md., Feb. 25 /PRNewswire-USNewswire/ -- Adlyfe, a private company developing novel biomarkers and diagnostic tests for amyloid diseases, announced today that it has signed an agreement with Wyeth Pharmaceuticals, a division of Wyeth, to develop biomarker assays designed to measure levels of beta amyloid in the human brain. The companies will develop assays for specific beta amyloid targets for use in facilitating the development of treatments for Alzheimer's disease. The multiyear agreement included an upfront payment and specific future milestone payments. Further details of the agreement were not disclosed.
Chief Executive Officer Alan S. Rudolph, Ph.D., MBA said, "This agreement is a strong statement on the potential of Adlyfe's Pronucleon(TM) technology. This partnership will enable us to move faster in developing our assay, which could serve as an important tool in assessing the efficacy of amyloid-targeted therapies."
Burrill LLC served as financial advisor to Adlyfe in this transaction.
About Alzheimer's disease
Alzheimer's disease (AD) is a neurodegenerative disease characterized by progressive cognitive deterioration together with declining activities of daily living and neuropsychiatric symptoms or behavioral changes. It is the most common type of dementia. As the disorder progresses, cognitive impairment extends to the domains of language, skilled movements, recognition, and those functions closely related to the frontal and temporal lobes of the brain. This pathological process consists principally of neuronal loss or atrophy, principally in the temporoparietal cortex but also in the frontal cortex, together with an inflammatory response to the deposition of amyloid plaques and neurofibrillary tangles. According to the NIH's National Institute on Aging, as many as 5.5 million Americans presently suffer from Alzheimer's disease.
SOURCE Adlyfe Incorporated
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