Probiodrug Provides Update on Clinical Development of PQ912, its Most Advanced QC-inhibitor for Alzheimer’s Disease
Probiodrug to Present at Annual BioPharm America International Partnering Conference
HALLE/SAALE, Germany, September 16, 2013 – Probiodrug AG (Probiodrug) today announced the transition of Professor Dr Hans-Ulrich Demuth from the position of Chief Scientific Officer, following Probiodrug’s transformation from a research-oriented to a product development-oriented company, to lead the Department of Drug Design & Target Validation at the Fraunhofer Institute for Cell Therapy and Immunology (Institut für Zelltherapie und Immunologie or IZI) in Leipzig. He will continue with Probiodrug in a consulting role.
Dr Erich Platzer, chairman of the Probiodrug board of directors, commented, “Professor Hans-Ulrich Demuth has been an integral part of the Probiodrug team since he and Dr Konrad Glund founded the Company in 1997. As the key scientist, he and the Probiodrug team discovered two pioneering treatment concepts with the Dipeptidyl Peptidase IV (DP4) inhibition for diabetes, and the prevention of pyroglutamated-Abeta formation by inhibiting QC for neurodegeneration. Today, DP4 inhibitors are marketed antidiabetics while PQ912, our lead candidate for neurodegeneration/Alzheimer’s disease, is completing Phase 1 studies and is slated to enter patient studies in 2014. We believe that his scientific engagement will serve IZI well. The establishment of the Department of Drug Design at IZI in Halle offers promising opportunities for the local region. We wish Hans-Ulrich Demuth luck in this next venture.”
About Probiodrug AG
Probiodrug is a biopharmaceutical company dedicated to the discovery and development of novel therapeutic solutions to treat people with Alzheimer’s disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase, providing the Company with a dominant position in this field of research. Probiodrug is backed by institutions such as Edmond de Rothschild Investment Partners, BB Biotech, IBG, HBM, TVM Capital, Life Sciences Partners, Biogen Idec New Ventures, CFH Group, funds managed by Wellington Management 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. Probiodrug was founded in 1997 by Prof Dr Hans-Ulrich Demuth and Dr Konrad Glund. For more information, please visit www.probiodrug.de.
Dr. Konrad Glund, CEO
Tel: +49 (345) 555-9900