Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company with an internal preclinical and clinical-stage pipeline and licenses with major pharmaceutical companies covering products in late-stage clinical trials, announced today that its Chairman & CEO, Dr. Daniel Chain, was granted a patent by the European Patent and Trademark Office related to the use of insulin sensitizers for the prevention and treatment of memory loss and dementia. Insulin sensitizer drugs include Rosiglitazone and Pioglitazone, which have been approved for the treatment of type II diabetes mellitus. Dr. Chain is co-inventor of the patent with Professor Mike Cawthorne, Director of Metabolic Research, Clore Laboratory at The University of Buckingham (www.buckingham.ac.uk/clore) and leader of the research team that originally discovered Rosiglitazone as a diabetes treatment. Dr. Chain applied for this patent prior to founding Intellect in 2005. Intellect Neurosciences holds an option to acquire the patent from its current owners.
This patent is the second European patent awarded to Dr. Chain. Previously, he was granted a patent for Intellect's ANTISENILIN® platform for the treatment and prevention of Alzheimer's disease (AD). The ANTISENILIN® platform is the underlying technology of the Company's preclinical IN-N01 humanized monoclonal antibody, and of Ponezumab, which is in Phase 2 clinical trials, and Bapineuzumab, which is in Phase 3 clinical trials, both of which are being developed by global pharmaceutical companies.