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Intellect Neurosciences Submits Statement Setting Grounds for Appeal in European Patent Proceedings
Date:2/14/2012

NEW YORK, Feb. 14, 2012 /PRNewswire/ -- Intellect Neurosciences, Inc. (OTCBB: ILNS), a biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment of Alzheimer's and other neurological diseases announced today that it submitted a statement setting out its grounds for appealing the European Patent Office's (EPO) preliminary decision to revoke the company's ANTISENILIN® patents regarding passive immunotherapy methods for the treatment of Alzheimer's disease. That decision followed a challenge by major pharmaceutical companies co-developing bapineuzumab, currently in Phase 3 clinical trials.

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The submitted Statement explains in detail why the Opposition Proceedings initiated by Elan and Wyeth on April 30, 2009 and maintained by Pfizer and Johnson & Johnson are not supported by the facts.  Intellect Neurosciences remains confident that its grounds of appeal will lead to a reversal of the preliminary decision by the EPO that was based on a primarily formalistic objection.  It is worth noting that the Notice of Opposition to Intellect's patents did not include allegations regarding lack of inventiveness or novelty.

"We are determined to protect our dominating patent position despite the bullying tactics by major pharmaceutical companies aiming to intimidate and undermine a company with the small size and limited resources of Intellect Neurosciences. Those actions are disappointing because we had previously demonstrated our willingness to provide licenses under favorable terms to various developers of antibodies based on our ANTISENILIN® platform technology," commented Daniel G. Chain, Ph.D., Intellect's chairman & CEO.  "We intend to vigorously pursue a reversal of the EPO's preliminary decision, and we intend to vig
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SOURCE Intellect Neurosciences, Inc.
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