Curaxis President comments on new Alzheimer's Association report

Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp., commented today on a new report by the Alzheimer's Association, titled "Generation Alzheimer's – the defining disease of the baby boomers", which demonstrates the devastating impact and size of Alzheimer's disease. Five million Americans have already been diagnosed with Alzheimer's, and that number may increase as the Baby Boomer generation turns 65 this year, according to the report.

Mr. Smith stated, "With 10 million baby boomers expected to either die with or from Alzheimer's, it is certainly time for Curaxis to take its place in providing a solution for this debilitating disease. We are looking to complete our evaluation of potential candidates and engage a Contract Research Organization for Curaxis' upcoming Phase IIB clinical trial in the near term. From a cost competitive standpoint, as well as the high demand for Alzheimer's clinical work, our market timing for the selection of a CRO could not be better."

The phase IIB clinical trial for Curaxis' lead Alzheimer's disease treatment, Memryte, is anticipated to launch in mid 2011. Memryte addresses the pathologies of Alzheimer's through multiple pathways, including beta-amyloid, tau phosphorylation, inflammation and aberrant cell cycling.