Las Vegas, NV, January 09, 2008 --(PR.com
)-- Enters Service Agreement with Advinus Therapeutics, India to Validate
Potential Memory Restoring Benefits of Alzheimer's Drug Caprospinol.
Strategy is to Bolster Caprospinol Alzheimer's Data Package to Out-License to Big Pharma and Expand IND Application to Enter Human Trials.
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 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 they can notify you of upcoming conference calls, news and events.
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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.
The Investor Relations Group
Samaritan Pharmaceuticals, Inc.