Published: January 04, 2012
Abbott Biotech Ventures Invests in NeuroGenetic Pharmaceuticals
SAN DIEGO - (BUSINESS WIRE) - NeuroGenetic Pharmaceuticals, Inc. (NGP), a privately held
biopharmaceutical company focused on Alzheimer's disease (AD)
therapeutics, has received an investment from Abbott Biotech Ventures.
The amount of the investment was not disclosed. Dr. William T. Comer,
president and CEO of NGP said, "The funding will expedite the
development of our lead candidate, NGP 555, for the prevention of AD,
including achieving our immediate goal of initiating clinical trials."
Earlier, NGP announced that it has been awarded a Small Business
Innovation Research (SBIR) fast-track grant from the National Institutes
of Health (NIH) for preclinical work on NGP 555. The first phase award
is in the amount of $288,000 with future awards to approach $1 million
for each subsequent phase, which can be up to three rounds of additional
funding for milestone-based achievements.
About NeuroGenetic Pharmaceuticals, Inc.
NeuroGenetic Pharmaceuticals, Inc. (NGP), a biopharmaceutical discovery
and development company founded in 2009, is developing innovative drug
therapies for Alzheimer's disease. Based in San Diego, Calif., the
company's next objective is to obtain an Investigational New Drug
approval for its clinical candidate, NGP 555. Future clinical trials
will utilize specific amyloid biomarkers and/or brain scanning as an
early diagnostic and to monitor drug efficacy in clinical trials.
Combining early disease identification with a treatment capable of
preventing AD-related pathology, such as NGP 555, would represent an
important advance in our ability to prevent AD or hinder its progression
to dementia. Clearly, the earlier AD is detected and treated, the better
the likelihood of a good outcome.
NGP 555, a proprietary "first in class" molecule for the
treatment/prevention of Alzheimer's disease, is a gamma-secretase
modulator targeting the γ-secretase complex, a key enzyme in the amyloid
pathway. The compound has excellent brain penetration and is devoid of
side-effects seen with other potential amyloid therapies such as
gamma-secretase inhibitors and monoclonal antibodies. Based on the
pre-clinical studies in rodents, this compound is expected to prevent
the formation of Aβ42 and the deposition of amyloid plaques
in the human brain, thereby precluding neuronal cell death and the
dementia associated with AD.
About Alzheimer's disease
The Alzheimer's Association (www.alz.org)
describes Alzheimer's disease as a progressive and fatal brain disease,
with as many as 5.3 million Americans and up to 30 million worldwide
currently living with the disease. The National Institute of Health
reports that unless the disease can be effectively treated or prevented,
the number of people with AD will increase significantly. It is now
known that the pathology burden of plaques and tangles in the brain may
begin as much as 10 - 20 years before dementia can be detected. This
gradual progression from pathology to dementia currently represents a
substantial unmet need in terms of the rapidly growing size of an aging
population likely to be affected, and the enormous cost of treatment and
hospitalization to society. Advances in assessing genetic risk,
biomarker profile in spinal fluid, and brain scanning to predict who
will develop Alzheimer's disease (AD) and when it may occur allow
preventative AD-therapeutics to be tested efficiently in the clinic.
This newfound ability to diagnose and monitor AD-progression makes the
need for safe and effective drugs that can stop/prevent AD-plaque
formation and dementia onset even more critical.
NeuroGenetic Pharmaceuticals, Inc.
Dr. William T. Comer, CEO
858-461-4481
wtcomer@neuro-genx.com
or
Gable
PR for NeuroGenetic Pharmaceuticals, Inc.
Tom Gable
619-284-1714
tom@gablepr.com
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