• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Samaritan Awarded Second NIH-STTR Grant-Funding to Develop Innovative Alzheimer's Drug

Posted on: Tuesday, 19 October 2004, 12:00 CDT

Samaritan Pharmaceuticals Inc. (AMEX:LIV):

-- Anticipated Commercial and Societal Benefits

-- If Aims Achieved, Scientific Knowledge Should Be Advanced

-- Scientific Reviewers that Approve NIH Grants are Considered Recognized Authorities in Their Field

Samaritan Pharmaceuticals Inc. (AMEX:LIV) a developer of innovative drugs to target AIDS, Alzheimer's and Cardiovascular disease, and Georgetown University, announced today the National Institutes of Health (NIH) awarded a grant to research their new Alzheimer's disease treatment, SP-004.

The award was granted under the Small Business Technology Transfer Program (NIH-STTR) for $100,000 to gather preliminary data to develop Samaritan Pharmaceutical's Alzheimer's drug which is believed to bind the Sigma-1 receptor and also has properties to inhibit acetylcholinesterase (AchE).

Why Samaritan's SP-004 is unique:

-- Currently, there are several Alzheimer's (AD) drugs that inhibit acetylcholinesterase (AchE) approved by the FDA;

-- Through data mining screening, Samaritan Labs believes it has identified promising compounds that in combination inhibit acetylcholinesterase (AchE), and the sigma-1 receptor at the same time;

-- It's in this potential therapeutic target combination that SP-04 hopes to demonstrate itself as a possible drug to rescue and prevent neuronal brain cell death of Alzheimer's disease.

This grant will support the research collaboration between Samaritan and Georgetown University, Washington, DC. Dr. Janet Greeson, Samaritan's Chief Executive Officer, will collaborate with Dr. Lecanu Laurent, the grant's Principal Investigator and Dr. Papadopoulos, a Co-Investigator. Dr. Lecanu Laurent is an Assistant Professor within the Department of Biochemistry and Molecular Biology, at Georgetown University Medical Center, and will be responsible for the development of this novel compound.

Dr. Janet Greeson, CEO of Samaritan Pharmaceuticals stated, "Just a few years ago, people with Alzheimer's disease and their families had very few options. Today, we look to the future optimistically." Dr. Greeson continued, "We are extremely flattered to be acknowledged with a second NIH grant, we feel it adds tremendously to the credibility of Samaritan's pipeline."

Dr. Lecanu stated, "Alzheimer's disease is the most common dementia encountered in elderly for which, so far, there is no cure. The treatments currently on the market are essentially symptomatic, like the inhibitors of acetylcholinesterase. Unfortunately, acetylcholinesterase (AchE) drugs have only proven to exert beneficial effects for a short period of time, rarely more than 2 years. This STTR grant represents a great opportunity for us to develop SP04, we expect to rescue and prevent the neuronal death that occurs with Alzheimer's disease and restore and maintain the cognitive and social functioning of Alzheimer's patients."

Small Business Technology Transfer Program (STTR)

STTR funds are dedicated to collaborations between universities and small businesses engaged in technology transfer, to promote the development of academic technologies into commercial applications. Success in Phase I will allow Samaritan to apply for additional funding via Phase II, which could support continual development of this Alzheimer's Drug.

Alzheimer's disease

Alzheimer's is one of the most devastating and costly human conditions. It affects over 15 million people worldwide, causing memory loss and, ultimately, dementia. Alzheimer's disease usually begins gradually, causing a person to forget recent events or familiar tasks. How rapidly it advances varies from person to person, but the disease eventually leads to confusion, personality and behavior changes, and impaired judgment. Communication becomes more difficult as the disease progresses, leaving those affected struggling to find words, finish thoughts, or follow directions. Eventually, most people with Alzheimer's disease become unable to care for themselves.

Samaritan Pharmaceuticals: "A Cure Is Closer Than You Think."

Samaritan Pharmaceuticals is working to ensure a longer and better life, for patients suffering with AIDS, Alzheimer's, Cancer and Cardiovascular disease. Samaritan is an innovation-driven Biopharmaceutical, with a clear focus on advancing innovative drugs through clinical development to become commercially valuable compounds.

Samaritan has in-licensed twelve innovations from Georgetown University and is concurrently, advancing four drug programs; SP-01A (HIV) Clinical trials; SP-10 (HIV) preIND status; SP-233 (Alzheimer's) preIND status; and SP-1000 (Cardiovascular) animal studies; along with an STTR NIH grant to develop a simple blood test to diagnose Alzheimer's.

Samaritan's proprietary HIV drug SP-01A is the closest to commercialization. SP-01A is an easy to take, oral, "Entry Inhibitor" drug that works by blocking the HIV virus' ability to infect a cell. Encouraging data from its FDA Phase I/II trial suggests SP-01A, as a promising drug for patients experiencing "drug resistance."

Visit our Web site at www.samaritanpharmaceuticals.com

Disclaimer

The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and Web site. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K filed April 14, 2004. The company undertakes no duty to update forward-looking statements.

Source: Business Wire

More News in this Category