Probiodrug AG raises additional €15 Million to advance its clinical program
Probiodrug AG, Collaborators Explain Interplay of Key Suspects in Alzheimer’s Disease
HALLE/SAALE, Germany, Jan. 6, 2012 – Probiodrug AG today announced that Konrad Glund, Ph.D., Chief Executive Officer of Probiodrug, will present at the 30th JP Morgan Annual Healthcare Conference at 8:30 a.m. PST, Wednesday, Jan. 11, at the Westin St. Francis Hotel in San Francisco. Dr Glund will provide an overview of the company and discuss progress in its lead clinical program, PQ912, the first glutaminyl cyclase inhibitor to enter clinical development for the treatment of Alzheimer’s disease.
About Probiodrug AG
Probiodrug is a biopharmaceutical company dedicated to the discovery and development of small molecule drugs against novel molecular targets for the treatment of neuronal- and inflammatory diseases. The Company has a dominant position in the area of glutaminyl cyclase inhibition. Glutaminyl cyclase, a novel enzyme target discovered and patented by Probiodrug, has a crucial role in the pathogenesis of Alzheimer’s disease (AD) as well as various peripheral inflammatory diseases.
Probiodrug is backed by institutions such as BB Biotech, Edmond de Rothschild Investment Partners, Goodvent/IBG, HBM, TVM, Life Sciences Partners, Biogen Idec Ventures, CFH Group and private investors.
Probiodrug’s core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes which play a central role in the maturation of hormones. The Company has pioneered the field of dipeptidyl peptidase 4 (DP4)-inhibition for the treatment of type 2 diabetes. Compounds and technology patents of its DP4 program in diabetes were licensed to various pharmaceutical companies. In 2004, all metabolic assets were sold to (OSI) Pharmaceuticals Ltd. The first drug based on Probiodrug`s technologies reached the market in late 2006. Proceeds of the various transactions have been reinvested to fund the novel approach for the treatment of AD and inflammatory diseases.
The Company was founded in 1997 by Prof Dr Hans-Ulrich Demuth and Dr Konrad Glund. Probiodrug has raised EUR 71 mio for its QC program. For more information, please visit www.probiodrug.de.
Company Contact:
Kumar Srinivasan, Ph.D.
CBO
Probiodrug
+49 345 55599-00
+1 610 628 0238 (USA)
kumar.srinivasan@probiodrug.de
Media Contact:
Robert Flamm, Ph.D. or David Schull
Russo Partners
+1 212-845-4226
+1 212-845-4271
robert.flamm@russopartnersllc.com
david.schull@russopartnersllc.com