Axonyx Obtains Exclusive Rights to Novel Memory Enhancing Technology

Apr 11, 2001, 01:00 ET from Axonyx Inc.

    NEW YORK, April 11 /PRNewswire Interactive News Release/ -- Axonyx Inc.
 (Nasdaq:   AXYX) announced today that the Company has entered into a Research
 Agreement with Thomas Jefferson University ("TJU") with an exclusive right to
 license inventions and products derived from work being performed at TJU by
 Matthew During, M.D., Ph.D. pursuant to this agreement. Dr. During is the
 Director of the Central Nervous System Gene Therapy Center, involved in memory
 and learning enhancement work, and is a Professor of Neurosurgery at Jefferson
 Medical College.
     This agreement includes rights to a small peptide, referred to as
 Gilatide, which has been shown to dramatically improve memory in healthy
 rodents, as measured by standard cognition tests. "Based on work that we have
 performed with this peptide," commented Dr. During, "we believe that we have
 discovered a new gene signaling pathway in the brain that controls memory. We
 have shown that Gilatide stimulates specific receptors which in turn activate
 a series of genes involved in this new pathway for memory."
     Dr. During further stated, "The work performed with Gilatide could result
 in a novel therapy which not only could facilitate memory and cognitive health
 in normal people but also may have potential for improving learning and memory
 in conditions such as age-related memory loss, attention deficit disorder and
 various dementias."
      "This agreement with Dr. During and TJU could position Axonyx to become a
 prime player in memory disorders, normal and abnormal," stated Marvin S.
 Hausman, M.D., President & CEO of Axonyx. "The unraveling and understanding of
 normal memory function and the mapping of human memory pathways is on the
 cutting edge of human medical technology. Axonyx intends to commence
 development work on Gilatide to support an IND filing."
     Axonyx's business strategy involves the acquisition of novel technologies
 and products and enhancement of their value through in-house preclinical and
 clinical expertise. The Company has licensed amyloid inhibitor peptide
 technology from New York University School of Medicine, which is now under
 development pursuant to a license agreement between the Company and an
 affiliate of Serono S.A. (NYSE:   SRA). Axonyx has also licensed a portfolio of
 Alzheimer's Disease drugs from the National Institute of Aging which the
 Company is now moving through preclinical and clinical development.
     Axonyx will host a conference call and web cast featuring Dr. During on
 Wednesday, April 18, 2001 at 3:00 pm E.S.T. For more information or to
 participate in the call/web cast, log on to the Company's website at
 http://www.axonyx.com. Replays of the web cast will be available for thirty
 days on the website.
 
     Axonyx Inc. is a US based biotechnology company engaged in the discovery,
 acquisition and development of proprietary pharmaceutical compounds and new
 technologies useful in the diagnosis and treatment of Alzheimer's Disease,
 other memory disorders and Mad Cow Disease. Phenserine, the Company's lead
 Alzheimer's Disease drug, is in a Phase II proof of concept clinical trial.
 
     This press release may contain forward-looking statements or predictions.
 These statements represent our judgment as of this date and are subject to
 risks and uncertainties that could materially affect the Company, including
 the risk that clinical trials with Gilatide may not prove successful, that the
 Company's development work on Gilatide may not support an IND filing, that the
 work performed on Gilatide may not result in a novel therapy, that Gilatide
 may not facilitate memory and cognitive health in normal people or improve
 learning and memory in people with certain conditions and these and other
 risks detailed from time to time in the Company's filings with the Securities
 and Exchange Commission. Axonyx undertakes no obligation to publicly release
 the result of any revisions to such forward-looking statements that may be
 made to reflect events or circumstances after the date hereof or to reflect
 the occurrence of unanticipated events.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X74343185
 
 

SOURCE Axonyx Inc.
    NEW YORK, April 11 /PRNewswire Interactive News Release/ -- Axonyx Inc.
 (Nasdaq:   AXYX) announced today that the Company has entered into a Research
 Agreement with Thomas Jefferson University ("TJU") with an exclusive right to
 license inventions and products derived from work being performed at TJU by
 Matthew During, M.D., Ph.D. pursuant to this agreement. Dr. During is the
 Director of the Central Nervous System Gene Therapy Center, involved in memory
 and learning enhancement work, and is a Professor of Neurosurgery at Jefferson
 Medical College.
     This agreement includes rights to a small peptide, referred to as
 Gilatide, which has been shown to dramatically improve memory in healthy
 rodents, as measured by standard cognition tests. "Based on work that we have
 performed with this peptide," commented Dr. During, "we believe that we have
 discovered a new gene signaling pathway in the brain that controls memory. We
 have shown that Gilatide stimulates specific receptors which in turn activate
 a series of genes involved in this new pathway for memory."
     Dr. During further stated, "The work performed with Gilatide could result
 in a novel therapy which not only could facilitate memory and cognitive health
 in normal people but also may have potential for improving learning and memory
 in conditions such as age-related memory loss, attention deficit disorder and
 various dementias."
      "This agreement with Dr. During and TJU could position Axonyx to become a
 prime player in memory disorders, normal and abnormal," stated Marvin S.
 Hausman, M.D., President & CEO of Axonyx. "The unraveling and understanding of
 normal memory function and the mapping of human memory pathways is on the
 cutting edge of human medical technology. Axonyx intends to commence
 development work on Gilatide to support an IND filing."
     Axonyx's business strategy involves the acquisition of novel technologies
 and products and enhancement of their value through in-house preclinical and
 clinical expertise. The Company has licensed amyloid inhibitor peptide
 technology from New York University School of Medicine, which is now under
 development pursuant to a license agreement between the Company and an
 affiliate of Serono S.A. (NYSE:   SRA). Axonyx has also licensed a portfolio of
 Alzheimer's Disease drugs from the National Institute of Aging which the
 Company is now moving through preclinical and clinical development.
     Axonyx will host a conference call and web cast featuring Dr. During on
 Wednesday, April 18, 2001 at 3:00 pm E.S.T. For more information or to
 participate in the call/web cast, log on to the Company's website at
 http://www.axonyx.com. Replays of the web cast will be available for thirty
 days on the website.
 
     Axonyx Inc. is a US based biotechnology company engaged in the discovery,
 acquisition and development of proprietary pharmaceutical compounds and new
 technologies useful in the diagnosis and treatment of Alzheimer's Disease,
 other memory disorders and Mad Cow Disease. Phenserine, the Company's lead
 Alzheimer's Disease drug, is in a Phase II proof of concept clinical trial.
 
     This press release may contain forward-looking statements or predictions.
 These statements represent our judgment as of this date and are subject to
 risks and uncertainties that could materially affect the Company, including
 the risk that clinical trials with Gilatide may not prove successful, that the
 Company's development work on Gilatide may not support an IND filing, that the
 work performed on Gilatide may not result in a novel therapy, that Gilatide
 may not facilitate memory and cognitive health in normal people or improve
 learning and memory in people with certain conditions and these and other
 risks detailed from time to time in the Company's filings with the Securities
 and Exchange Commission. Axonyx undertakes no obligation to publicly release
 the result of any revisions to such forward-looking statements that may be
 made to reflect events or circumstances after the date hereof or to reflect
 the occurrence of unanticipated events.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X74343185
 
 SOURCE  Axonyx Inc.