Intellect Neurosciences, Inc. and CHDI, Inc. Enter Into Compound Testing Agreement to Evaluate OXIGON(TM) as a Potential Treatment for Huntingt...( Agreement demonstrates broad pot...),Health

Agreement demonstrates broad potential use of Intellect's clinical

candidate

NEW YORK, Sept. 20 /PRNewswire-FirstCall/ -- Intellect Neurosciences, Inc. (OTC Bulletin Board: ILNS), a biopharmaceutical company focused on the development of disease-modifying therapeutic agents for the treatment and prevention of Alzheimer's disease and related disorders, and CHDI, Inc., a non-profit organization pursuing the discovery and development of drugs to prevent or slow the progression of Huntington disease (HD), announced today that they have entered into an agreement under which CHDI will assess Intellect's OXIGON(TM) as a potential therapy for Huntington disease. CHDI has access to a variety of relevant research tools, including in vitro and in vivo assays and animal models. Intellect has completed Phase I clinical trials for OXIGON(TM) in elderly healthy volunteers.

Dr. Daniel Chain, CEO and Chairman of Intellect, commented: "We are pleased that CHDI is evaluating whether OXIGON's method of action might extend to Huntington disease. OXIGON(TM) is planned to enter Phase II clinical trials in Alzheimer's patients in 2008. The data generated in the CHDI study could support proceeding with clinical trials in HD patients as well."

"We are intrigued by the properties of this compound, which has demonstrated neuroprotective effects in various animal models," said Robert Pacifici, CHDI's Chief Scientific Officer. "We are pleased to work with the Intellect team to evaluate the usefulness of OXIGON(TM) to treat HD."

About OXIGON(TM)

Intellect's lead drug candidate, OXIGON(TM), is a chemically synthesized form of a naturally occurring molecule that has unique neuroprotectant and antioxidant properties. OXIGON(TM) has been demonstrated to protect the brain from many potent neurotoxins in animals and also to block the formation of toxic aggregates that result from abnormal folding of proteins such as beta amyloid
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