Probiodrug AG to Publish First Half 2015 Results on 27 August, 2015
Probiodrug reports financial results for H1 2015
HALLE/SAALE, Germany, 24 August 2015 – Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s disease, announces today that Prof Dr Hans-Ulrich Demuth will be presenting at the International Conference on Brain Disorders and Therapeutics 2015 on Tuesday, August 25th 2015 at 16:50 BST. The presentation is entitled: “Targeting Neurotoxic N-Terminal Pyroglutamated Abeta (pGlu-Abeta) with inhibitors of Glutaminyl Cyclase (QC) and pGlu-Abeta-specific antibodies has reached clinical stage”. The conference is held at the Crowne Plaza London-Heathrow, UK, from August 24th to 26th, 2015.
Prof. Hans Ulrich Demuth co-founded Probiodrug and is now a member of the Scientific Advisory Board. He worked for several years as Chief Scientific Officer at Probiodrug on the molecular mechanisms of Alzheimer’s disease. Based on his radically new insights in the key pathological role of an Amyloid Beta variant, he established an innovative therapeutic concept to fight the devastating disease. Probiodrug now has a first in class and first in indication small molecule in clinical development phase 2a.
Inge Lues, Chief Development Officer, stated: „Since working with the company in 2008 I was highly impressed by the groundbreaking new findings, manifested also by granted medical use patents and the team’s endurance in attempting to establish a new concept in the scientific community. We are very much looking forward to see what our front-running medicine candidate PQ912 will show in early AD patients. ”
Prof. Demuth, along with his team and various academic collaborators, elucidated and substantiated the pathological role of a critical Abeta variant, called pGlu-Abeta. Most importantly, Prof. Demuth discovered the enzyme Glutaminyl Cyclase as being essential for the formation of pGlu-Abeta, providing a very interesting new target to inhibit pGlu-Abeta production. This mechanism has been broadly validated preclinically. Prof. Demuth has been part of the Fraunhofer Society since 2013 and is a senior scientific consultant for Probiodrug.
For more information, please contact:
Dr Konrad Glund, CEO
Mary Clark, Supriya Mathur, Alexia Faure
Tel: +44 (0) 203 440 5653
Notes to Editors:
About Probiodrug AG
Headquartered in Halle, Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.
Today Probiodrug’s aim is to become a leading company in the development of Alzheimer’s disease treatments and to thereby provide a better life for Alzheimer’s disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer’s disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company’s view, with a leading position in this field of research. www.probiodrug.de
About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, 44 million people worldwide currently live with the condition and this number is expected to almost double by 2030 and to more than triple by 2050 to over 132 million. Alzheimer’s also has an estimated, global societal cost of over $600 billion (World Alzheimer Report 2014).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.