NEW YORK, Jan. 2, 2013 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS) announces Dr. Daniel G. Chain, Chairman and CEO, provided conference highlights from the December 11-12 Alzheimer's Drug Development Summit in Neurotech Insights magazine. Dr. Chain was a Distinguished Speaker at the conference.
In addition to Dr. Chain's presentation, titled "Recent Advancements in Vaccine Development for AD Prophylaxis and Management," which reviewed the challenges associated with the development of a safe and effective Alzheimer's vaccine and described the rationale in support of Intellect's ground-breaking approach, Dr. Chain provided overviews of the major talks of the conference. His overview concluded with an analysis of the way the federal government has failed to address the cost of development for new treatments for Alzheimer's disease.
In the article, Dr. Chain commented, "I fully concur with the Neurotechnology Industry Association's (NIO) belief that the solution to the problem of prevalence of neurological disease and the public health burden it presents lies in creating new market exclusivity for sponsors of novel disease-modifying therapeutics that are targeted to neurodegenerative disease, especially AD. The rationale of the NIO initiative follows that of the 1983 Orphan Drug Act, which has since spurred development of new medicines for hundreds of orphan diseases that, otherwise, would not have been addressable given the small market size. A guaranteed market exclusivity period of ten years would be sufficient to tilt the cost-benefit consideration toward continuing drug development for neurodegenerative diseases."
About Intellect Neurosciences
Intellect Neurosciences, Inc., develops innovative approaches aimed at arresting or preventing Alzheimer's disease and other neurodegenerative diseases, with a specific focus on proteinopathies. Intellect's pipeline includes therapeutic vaccines, antibodies and neuroprotective antibody drug conjugates. For more information, please visit www.intellectns.com.
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Safe Harbor Statement Regarding Forward-Looking Statements:
The statements in this release and oral statements made by representatives of Intellect Neurosciences relating to matters that are not historical facts (including, without limitation, those regarding future performance or financial results, the timing or potential outcomes of research collaborations or clinical trials, any market that might develop for any of Intellect's product candidates and the sufficiency of Intellect's cash and other capital resources) are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that actual performance or results could materially differ, that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, or Intellect's ability to fund such efforts with or without partners. Intellect undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statements should be read in conjunction with the additional risks and uncertainties detailed in Intellect's filings with the Securities and Exchange Commission, including those discussed in Intellect's Quarterly Report on Form 10-Q (file no. 333-128226), filed on November 20, 2012 and the risk factors discussed under the caption "Risk Factors" in Intellect's Annual Report on Form 10-K (file no. 333-128226), filed on October 15, 2012.
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Source:Intellect Neurosciences, Inc.