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Adeona Pharmaceuticals Announces Issuance of US Patent for Oral Tiomolibdate Diammonium for Alzheimer’s Disease
Monday, November 10, 2008
Ann Arbor, MI -- Adeona Pharmaceuticals, Inc., a late-stage pharmaceutical company developing innovative drug candidates for the treatment of autoimmune and central nervous system diseases, announced the issuance of U.S. Patent No. 7,416,741 containing claims covering the use of thiomolybdates such as oral tiomolibdate diammonium (USAN name for oral tetrathiomolybdate, or TTM) for the treatment of Alzheimer's disease (AD).
Oral tiomolibdate diammonium's specificity and unique mechanism of action for rapidly lowering toxic "free" copper levels may position oral tiomolibdate diammonium as the first available therapeutic agent capable of correcting the serum and CNS "free" copper dyshomeostasis that may represent an important fundamental cause of AD. We believe that oral tiomolibdate diammonium's ability to specifically bind to and reduce "free" copper levels differentiates it from other non-copper-chelating agents that liberate bound copper stores, thereby increasing "free" copper levels and CNS exposure to "free" copper. Oral tiomolibdate diammonium is currently being studied in preclinical models for the treatment of AD.
Nicholas Stergis, Adeona's chief executive officer, commented, "We are pleased to have added this issued U.S. issued patent to our portfolio of anti-copper therapies. As we continue to seek partnerships with industry and non-profit foundations, we believe we may realize value from this set of intellectual property."
Market Opportunity for Oral Tiomolibdate Diammonium in Alzheimer's Disease
It is estimated that more than 4.5 million Americans and 12 million people worldwide suffer from AD. Risk factors for the disease include age and family history. Age is the most important risk factor for AD; the number of people with the disease doubles every five years beyond age 65. According to the Alzheimer's Association, the disease affects one in 10 persons over the age of 65, and 50 percent of those over 85 years old.
There is an urgent need for an effective treatment for the illness, caused in part by the rising healthcare, institutional, and social costs for the treatment and care of Alzheimer's sufferers. In May 2002, the National Institute on Aging (NIA) reported that the cost of care to family, caregivers and society in general was estimated to exceed $100 billion per year, up from $18 billion in 1996, ranking AD as the disease with the greatest economic cost to society. These costs are expected to rise sharply as the baby-boom generation ages and more people become at risk for the disease. As people live longer, their risk of developing AD increases.
The market for treatment of AD is equally large, accounting for $3 billion in worldwide sales in 2004 which is expected to grow to $5 billion by 2009. Aricept, an FDA-approved acetylcholinesterase inhibitor, is the top-selling treatment; in 2004, Aricept sales accounted for 40 percent of the Alzheimer's drug market, with $1.35 billion in sales and year-over-year revenues growing by 17 percent per annum.
About Oral Tiomolibdate Diammonium
Oral tiomolibdate diammonium is a small-molecule, anti-copper agent that is highly specific for the reduction of "free" copper in serum, the most toxic form of copper in the body, and is thus ideally suited for the treatment of central nervous system (CNS) diseases in which abnormal serum and CNS copper homeostasis are implicated.
About Adeona Pharmaceuticals, Inc.
Adeona Pharmaceuticals, Inc. is a late-stage pharmaceutical company that is developing proprietary, drug candidates for the treatment of autoimmune and central nervous system diseases. Adeona's strategy is to exclusively in-license proprietary, clinical-stage drug candidates and to complete the further clinical testing, manufacturing, regulatory requirements and seek marketing authorizations. Adeona is focused on treating rheumatoid arthritis (RA), dry age-related macular degeneration (AMD), multiple sclerosis (MS), and fibromyalgia. For further information, please visit www.adeonapharma.com.
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Adeona's plans for its product candidates, and positioning oral TTM as the first available therapeutic agent capable of correcting the serum and CNS free copper dyshomeostasis, and realizing value from this set of intellectual property. Such statements include the possible positioning of oral tiomolibdate diammonium as the first available therapeutic agent capable of correcting the serum and CNS free copper dyshomeostasis that might represent an important fundamental cause of AD, our belief that oral tiomolibdate diammonium's ability to specifically bind and reduce free copper levels, differentiates it form other non-copper chelating agents that liberate bound copper stores thereby increasing free copper levels and CNS exposure to free copper, our belief that we should realize value from this set of intellectual property, the expectation that the market for the treatment of AD will grow to $5 billion by 2009 and the belief that oral tiomolibdate diammonium is ideally suited for the treatment of central nervous system diseases in which abnormal serum and CNS copper homeostasis are implicated. Words such as, but not limited to, "look forward to," "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "should," and "could," and similar expressions or words identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Adeona is at an early stage of development and may not ever have any products that generate significant revenue. Important factors that could cause actual results to differ materially from those reflected in Adeona's forward-looking statements include, among others, a failure of Adeona's product candidates to be demonstrably safe and effective, a failure to obtain regulatory approval for the company's products or to comply with ongoing regulatory requirements, a lack of acceptance of Adeona's product candidates in the marketplace, a failure of the company to become or remain profitable, Adeona's inability to obtain the capital necessary to fund its research and development activities, a loss of any of the company's key scientists or management personnel, and other factors described in Adeona's report on Form 10-Q for the year ended June 30, 2008. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Adeona undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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