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Halle/Saale, Nov. 08, 2010 — Probiodrug AG (Probiodrug), a biotech company developing novel products for the treatment of neurodegenerative and inflammatory diseases with a particular focus on Alzheimer’s disease, today announced that it has been invited to present at the Lazard Capital Markets 7th Annual Healthcare Conference, which will take place in New York, NY, from November 16 to 17, 2010. Probiodrug is one of the few privately held European life science companies lecturing at the meeting.
“We are very happy to have been invited to present at this important healthcare conference,” said Hendrik Liebers, CFO of Probiodrug. “It will be a prime opportunity to give an update on our Glutaminyl Cyclase (QC) program, our latest achievements and upcoming milestones, including our first QC inhibitor approaching clinical trials in 2011. There is a growing body of evidence of the role of QC and pyroglutamated Aβ (pGluAβ ) peptides in the pathogenesis of AD, and our program is gaining increasing recognition in AD R&D. We therefore are looking forward to present relevant findings to this audience of influential international investors and opinion leaders.”
Based on the Company’s comprehensive expertise in enzymes involved in the maintenance of peptide and protein hormones, Probiodrug has discovered a novel and potentially causative pathogenic mechanism involved in the onset of Alzheimer’s disease (AD). Starting with the findings that QC facilitates a pyroglutamate-formation (pGlu), not only from N-terminal glutamine but also from glutamate, and thereby promotes aggregation and toxicity of the pGluAβ peptides in AD, Probiodrug has launched a drug discovery program which has approached the regulatory phase. In parallel, Probiodrug is exploring the potential of QC inhibitors for other inflammatory indications.
About Probiodrug AG
Probiodrug is a leading biopharmaceutical company dedicated to the discovery and development of innovative small molecule drugs against novel molecular targets for the treatment of neuronal and inflammatory diseases. Probiodrug is validating new targets to develop first and best in class therapeutics in disease areas with high unmet medical needs. 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 other inflammatory disease conditions. The company is also pursuing additional novel targets to treat inflammatory diseases.
Probiodrug is backed by institutions such as BB Biotech, Edmond de Rothschild`s Investment Partner, Goodvent/IBG, HBM, TVM, Life Science Partners, Biogen Idec Ventures, CFH Group and private investors.
Probiodrug’s core expertise is based on its long-standing, unique 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 DP4-inhibition for the treatment of type 2 diabetes. Compounds and technology patents of its DP4 (dipeptidyl peptidase 4) 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 56 mio with the latest round of EUR 36 mio concluded in November 2009. In 2007, the company acquired Ingenium Pharmaceuticals AG; Probiodrug is located in Halle (Saale), Germany, and operates a subsidiary in Martinsried/Munich, Germany. For more information, please visit www.probiodrug.de.
Company Contact:
Dr Konrad Glund
CEO
Probiodrug AG
Weinbergweg 22
D-06120 Halle/ Saale
Germany
Tel.: +49 345 55599-00
Fax: +49 345 55599-01
Mail: Konrad.glund@probiodrug.de
Media Contact:
Dr Ludger Weß
Managing Partner
akampion
Saseler Loge 6b
D-22393 Hamburg
Germany
Tel.: +49 40 88 16 59 64
Fax: +49 40 88 16 59 65
Mail: ludger@akampion.com