NEW YORK, Aug. 26 /PRNewswire-USNewswire/ -- The Alzheimer's Drug Discovery Foundation (ADDF) announced today that it has awarded a grant of $240,000 to AgeneBio Inc. to develop a new class of small-molecules that have promise in treating amnestic mild cognitive impairment (aMCI), a neurological condition that often progresses to Alzheimer's disease and affects more than 3 million aging Americans. Approximately fifteen percent of aMCI patients progress to an Alzheimer's disease (AD) diagnosis every year.
In aMCI, new research has shown that excess neural activity is associated with greater memory loss and predicts progression to AD. AgeneBio is developing new "neural stabilizer" therapies that are designed to selectively normalize the excess neural activity, improve memory and slow the progression to AD.
AgeneBio's research platform is based on the work of Michela Gallagher, PhD, the scientific founder of AgeneBio. Dr. Gallagher is the Krieger-Eisenhower Professor of Psychology and Neuroscience at John Hopkins University and the Director of the Neurogenetics and Behavior Center.
"We are honored to be selected by the ADDF for funding of our novel approach to the treatment of aMCI and Alzheimer's disease," said Dr. Gallagher. "AgeneBio has demonstrated in pre-clinical studies that normalizing excess brain activity has a great benefit on memory. We have identified a novel drug target and a new class of compounds for further development."
"This research has the potential to lead to the development of new therapies for symptom relief as well as disease-modification for aMCI and Alzheimer's disease" said J. David Leander, AgeneBio's Chief Scientific Advisor. "The funding from the ADDF will allow AgeneBio to expand and accelerate the medicinal chemistry effort."
"AgeneBio's innovative approach has the potential to significantly impact the disease process at a very early stage, slowing the progression of Alzheimer's disease," said Dr. Howard Fillit, the ADDF's Executive Director. "We enthusiastically support the important work at AgeneBio."
For more information about the ADDF, please contact Filomena Machleder at 212-901-8004 or firstname.lastname@example.org. For media inquiries about AgeneBio please contact Lori Leroy 317-238-2456 or email@example.com. For company information about AgeneBio, please contact Timothy F. Parshall, CEO 317-294-8035 or Tim.firstname.lastname@example.org.
About the Alzheimer's Drug Discovery Foundation (www.AlzDiscovery.org)
The ADDF (www.AlzDiscovery.org) is the only public charity whose sole mission is to accelerate the discovery and development of drugs to prevent, treat and cure Alzheimer's disease, related dementias and cognitive aging. Since 1998, the ADDF has granted more than $40 million to fund over 300 Alzheimer's drug discovery programs in academic centers and biotechnology companies in 15 countries.
About AgeneBio Inc (http://www.agenebio.com)
Established in 2008, AgeneBio is headquartered in Indianapolis and is focused on developing therapies to AD. The company currently has a therapy for Amnestic Mild Cognitive Impairment being evaluated in Phase II clinical trials.
SOURCE Alzheimer's Drug Discovery Foundation