|
Samaritan
Pharmaceuticals Inc. is pleased to announced today that it
has signed a service agreement with Advinus
Therapeutics Limited, India, to perform validating preclinical
studies for Caprospinol
(SP-233), the company's lead Alzheimer's drug.
Samaritan
has completed a series of studies that suggests Caprospinol
offers a new and novel neuroprotective treatment that could
potentially protect the memory of Alzheimer's patients. Promising
preclinical studies  have
shown that Caprospinol
directly targets the amyloid peptide which is commonly thought
to be the cause of Alzheimer's. Advinus will perform studies
to validate Samaritan's previous findings; and in addition,
Samaritan's strategy is to perform extensive preclinical studies
with the intention of out-licensing Caprospinol
to a major pharmaceutical company; and concurrently, expand
Samaritan's investigational new drug application (IND) to
the FDA, to enter Phase I human clinical trials.
Dr.
Greeson, CEO of Samaritan Pharmaceuticals stated ``After
a long and extensive search for the right contract research
organization (CRO) to perform preclinical studies, we found
Advinus.
This outsourcing research and development agreement, will
allow the Georgetown scientists to focus more on drug discovery;
as well as, allow Samaritan to strategically focus on out-licensing
as a priority, as well as, expeditiously advance our Alzheimer's
drug Caprospinol, through the FDA drug development path.''
Dr. Rashmi
Barbhaiya, CEO of Advinus
stated, ``With spiraling R&D costs and an ever increasing
pressure on time-to-market, Advinus
offers unique synergy to biotech companies for developing
new drugs while leveraging the India-advantage. We have a
group of experienced and talented scientists to support Samaritan's
endeavors to convert their molecules into viable clinical
candidates in a cost-effective manner.''
About
Advinus Therapeutics Limited:
Advinus
is an emerging Indian company located in Bangalore, India,
with deep capabilities in drug discovery and contract services
for pharmaceutical companies. It is backed by the Tatas, one
of India's largest and most respected business houses, and
led by executives with extensive international experience
in Pharma R&D. For company information, visit Advinus
at http://www.advinus.com.
About
Samaritan Pharmaceuticals: ``We LIV....to Save Lives.''
Samaritan is a
small-cap Biotech, driven to discover, develop and commercialize
innovative therapeutics' for AIDS, Alzheimer's, Cancer and
Heart disease patients. Look at http://www.samaritanpharma.com.
Please register on Website so we can notify you of upcoming
conference calls, news and events.
Samaritan Pharmaceuticals
-- Samaritan Technology Videos: http://www.samaritanpharma.com/samaritan_mechanism_of_action_videos.asp
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 Website. 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/A filed November 2, 2006. The company undertakes
no duty to update forward-looking statements.
Contact:
The Investor Relations Group
Investor Relations:
Adam Holdsworth
Erica Ruderman
Rachel Colgate
212-825-3210
Samaritan
Pharmaceuticals, Inc.
Kristi Eads
702-735-7001
|
Samaritan
Pharma Strategically Advances Its Promising
Alzheimer's Drug
