NEW YORK, Sept. 28, 2016 /PRNewswire/ -- Neurotrope, Inc. (OTCQB:NTRP), a company focused on developing drugs to treat neurodegenerative diseases including Alzheimer's disease, today announced that it has appointed its Chief Scientific Officer, Dr. Daniel Alkon, to the additional role of President.
After approximately 30 years directing programs on the molecular basis of associative memory at the National Neurologic Institute of NIH, and another approximately 15 years as the Founding Scientific Director of the Blanchette Rockefeller Neurosciences Institute, Dr. Alkon has now decided to devote much more of his time to the development of drugs to treat neurodegeneration at Neurotrope. Dr. Alkon stated, "It has been a great honor and opportunity to have been a part of the Blanchette Rockefeller Neurosciences Institute and to oversee its discoveries of synaptic regeneration to treat the progression of diseases such as Alzheimer's disease, Fragile X, and Traumatic Brain Injury. Now, I believe it is crucial that I assume a more important and direct role at Neurotrope. I believe that Neurotrope's lead drug candidate, now in Phase 2 trials across the nation, has the potential to treat and even possibly reverse the ravages of neurodegeneration and I want to be totally involved in the process to make that happen. I believe this is a very exciting time to be involved with the company."
Further details may be found in the Company's Form 8-K filing with the Securities and Exchange Commission (SEC).
Neurotrope BioScience, Inc., a wholly owned subsidiary of Neurotrope, Inc., is a biotechnology company focused on developing a novel therapy for the treatment of Alzheimer's disease. The scientific basis of our treatment is activation of Protein Kinase C isozymes ε and α by bryostatin, a natural product, which in mouse AD models was demonstrated to result in repair and replacement of damaged synapses (synaptogenesis). PKC epsilon has also exhibited the ability to prevent neuronal death, reduce toxic beta-amyloid and neurofibrillary tangles, and enhance memory and learning, thus having the potential to improve cognition, daily functions, mood and behavior in Alzheimer's disease patients.
Neurotrope is also conducting preclinical studies of bryostatin as a treatment for Fragile X Syndrome and Niemann-Pick Type C disease, two rare genetic diseases for which only symptomatic treatments are currently available. The FDA has granted Orphan Drug Designation to Neurotrope for bryostatin as a treatment for Fragile X Syndrome. Bryostatin has undergone testing in over 1,400 people establishing a large safety database.
Neurotrope has exclusively licensed technology from the Blanchette Rockefeller Neurosciences Institute for Alzheimer's disease and Fragile X Syndrome, has a world-wide, exclusive license with the Icahn School of Medicine at Mt. Sinai for Niemann-Pick Type C. The company has also entered into a collaboration with RettSydrome.org and is partnered with Stanford University to synthesize and find the next generation bryostatin, called bryologs.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding the proposed study and timing of initiation, and continued development of use of bryostatin for Alzheimer's disease and other cognitive diseases, and the Company's ability to list its common shares on a major stock exchange. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company's patent portfolio, the Company's inability to expand the Company's business, the Company's inability to meet listing requirements for major stock exchanges, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, availability of the Company's raw materials, existing or increased competition, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2016. The Company does not undertake to update these forward-looking statements.
Please visit www.neurotropebioscience.com for further information.
For additional information, please contact:
Jeffrey Benison, Investor Relations
212 334 8709 or 516 286 6099
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SOURCE Neurotrope, Inc.