Healthcare Industry News: Parkinson's Disease
News Release - May 30, 2007
Neuro-Hitech, Inc., Obtains Exclusive License to Combination Drugs for the Treatment of Alzheimer's Disease and Other Serious Neurological DisordersNEW YORK--(HSMN NewsFeed)--Neuro-Hitech, Inc. (NASDAQ: NHPI ), a biopharmaceutical company focused on the development and commercialization of next-generation compounds against proven targets for neurodegenerative diseases, today announced that Georgetown University has granted it an exclusive license to technology and patents covering drug combinations and methods for treating, preventing, or reversing neuronal dysfunction in severe neurodegenerative disorders, such as Alzheimer's disease, Parkinson's Disease and amyotrophic lateral sclerosis (Lou Gehrig's disease).
The drug combination comprises Neuro-Hitech's Huperzine compounds, such as Huperzine A, and nicotinic compounds, known enhancers of cognitive function. Paul S. Aisen, M.D., of the Georgetown University Medical Center, believes that this "two-pronged approach to the treatment of cognitive and neurodegenerative disorders, including Alzheimer's disease, is a novel and attractive scientific development. The long history of exposure to both drugs in humans may significantly reduce development risks and shorten approval times."
"Exclusive license to this patent and associated technologies strengthens the world-wide product positioning of our most advanced drug, Huperzine A, which is expected to complete U.S. Phase II human trials late this year," said Mr. Reuben Seltzer, CEO of Neuro-Hitech. "Obtaining this technology significantly strengthens our product-extension pipeline and our new-drug development efforts."
About Neuro-Hitech, Inc.
Neuro-Hitech, Inc. is a New York-based biopharmaceutical company focused specifically on the development and commercialization of next-generation therapies against proven targets for neurodegenerative diseases. Our lead product candidate, Huperzine A, is being clinically tested for efficacy and safety in the treatment of Alzheimer's disease. Huperzine A has been shown to protect nerve cell death and have a longer duration of acetylcholinesterase inhibitory action relative to other cholinesterase inhibitors. In addition to Huperzine A, Neuro-Hitech has two major preclinical development programs. One consists of a portfolio of second-generation anti-amyloid compounds that target A-beta and Tau proteins. The other targets the development of a novel series of compounds designed to treat (anti-ictogenic) and prevent (anti-epileptogenic) epilepsy.
Find more information about Neuro-Hitech online at www.neurohitech.com.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act and Section 21E of the Exchange Act). To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates," "projects" and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include those outlined in "Risk Factors" found within our Annual Report on Form 10-KSB and include, without limitation, Neuro-Hitech's limited cash and ability to raise capital to finance the growth of Neuro-Hitech's operations, the ability of Neuro-Hitech to develop its products and obtain necessary governmental approvals, Neuro-Hitech's ability to protect its proprietary information, Neuro-Hitech's ability to attract or retain qualified personnel, including scientific and technical personnel and other risks detailed from time to time in Neuro-Hitech's filings with the SEC, or otherwise.
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