Iliad Neurosciences, Inc. enters into an Exclusive License Agreement with The Research Foundation for The State University of New York

PLYMOUTH MEETING, Pa., Sept. 18, 2014 /PRNewswire/ -- Iliad Neurosciences, Inc., a company focused on the development of innovative approaches to diagnosing and treating Autism Spectrum Disorders (ASD) announced today that it has entered into an Exclusive License Agreement with The Research Foundation for The State University of New York.

Under this Agreement, Iliad will provide a new biomarker to identify an abnormality in folate transport to the brain associated with susceptibility to ASD. This biomarker is expected to be available for research use by physicians during the third quarter of 2014. The Identification of this defect could lead to a targeted therapy that may improve the transport of folate to the brain in children and to the fetus in pregnant women who test positive for the folate receptor autoantibody.

"Our collaboration with the SUNY Research Foundation has been very productive. We continue to make excellent progress in making our laboratory blood tests available to clinicians to assist in the assessment of folate receptor function in patients diagnosed with ASD and related conditions," said Boas Gonen, M.D., President and CEO.

"My hope is that Iliad will develop a tool that is clinically useful in diagnosing the risk of folate-related problems, including ASD and other neurodevelopmental disorders. I am pleased to be working with Iliad Neurosciences on this important project," said Edward Quadros, PhD, research professor in the Department of Medicine at SUNY Downstate Medical Center and technical advisor to the project.  Dr Quadros' research career has been devoted to the study of Vitamin-B12 and folate metabolism.

Autism Spectrum Disorders affects one out of sixty eight children in the USA according to the CDC or approximately 1.25 million children, and is highly prevalent worldwide.

ABOUT Iliad Neurosciences, Inc.:

Iliad Neurosciences, Inc., based in Plymouth Meeting, PA., was launched in 2013 to develop commercially viable biomarkers and diagnostics to identify and treat neurological diseases. The company's first investigational product for children with Autism Spectrum Disorders is expected to be commercially available as a research tool in third quarter of 2014. The management team is led by Boas Gonen, M.D. who has over 20 years of experience in R&D with Wyeth Pharmaceuticals and Steve Tsetsekos who has over 20 years of experience in finance, private equity and venture capital including investing and developing biotechnology companies.

ABOUT The Research Foundation for The State University of New York

The Research Foundation for SUNY (RF) is the largest, most comprehensive university-connected research foundation in the country. The RF manages SUNY's research portfolio providing essential sponsored programs administration and innovation support services to SUNY faculty and students performing research in life sciences and medicine; engineering and nanotechnology; physical sciences and energy; social sciences, and computer and information sciences. The RF moves SUNY ideas and inventions to the marketplace collaborating with business and industry to create new opportunity and new jobs for New York State. To learn more about the RF, visit www.rfsuny.org

ABOUT SUNY Downstate

SUNY Downstate Medical Center, founded in 1860, was the first medical school in the United States to bring teaching out of the lecture hall and to the patient's bedside. A center of innovation and excellence in research and clinical service delivery, SUNY Downstate Medical Center comprises a College of Medicine, Colleges of Nursing and Health Related Professions, a School of Graduate Studies, a School of Public Health, University Hospital of Brooklyn, and an Advanced Biotechnology Park and Biotechnology Incubator.

For more information, visit us at www.iliadneuro.com or contact:

Boas Gonen, M.D., President & CEO
OR

Steve Tsetsekos, Chief Financial Officer at 610-441-9050

SOURCE Iliad Neurosciences, Inc.