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NEW YORK, March 29, 2013 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company engaged in the discovery and development of treatments for the prevention and treatment of neurodegenerative diseases, issued the following Letter to Shareholders from Dr. Daniel Chain, Chairman and CEO.
I would like to take this opportunity to update you briefly regarding my recent trip to Europe, which included 27 meetings in 10 days! The vast majority of these meetings had to do with the strategic plan I outlined in my letter to you of February 13, 2013: namely, to move forward aggressively with our CONJUMAB-A and tau immunotherapy programs, which have attracted interest from the pharmaceutical industry and institutional investors, especially in Europe.
I first attended the 11
th Annual Conference on Alzheimer's disease and Parkinson's disease from March 6-10. The conference provided the opportunity to meet with colleagues from the industry, as well as speak with several opinion leaders who shared their insights with me. A foremost topic of discussion centered on the FDA's new guidelines published in February this year, titled Guidance for Industry Alzheimer's Disease: Developing Drugs for the Treatment of Early Stage Disease. Taken at face value, the new guidelines are encouraging and represent an important departure from the FDA's previous position, in that they are designed to facilitate and accelerate AD drug development. At the same time, several industry experts cautioned against reading too much into the guidelines, stressing that the FDA has yet to ratify its position and will need to consider each New Drug Application on a case-by-case basis.
The conference comprised several interesting scientific presentations concerning the underlying pathophysiology of AD, as well as the potential of various therapeutic approaches. Not surprisingly, there were a large number of presentations centered on tau protein, which has become regarded as a key neurotoxicity mediator leading to irreversible damage and death of nerve cells. I was encouraged by several examples of assays being developed to evaluate drug compounds targeting tau that could be helpful to Intellect.