Capital increase from authorized capital in connection with the Greenshoe option has been completed
Probiodrug to present at 17th Annual BIO CEO & Investor Conference, New York City
Presentation at Society for Neuroscience (SfN) and Poster at Clinical Trials on Alzheimer’s Disease (CtaD)
HALLE/SAALE, Germany, 17 November 2014 – Probiodrug AG (“Probiodrug”), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s Disease, announces that Prof. Hans-Ulrich Demuth, co- founder and consultant of Probiodrug, will be reviewing the target validation and summarize data on its lead product candidate PQ912 at two international conferences.
The presentation and poster entitled ‘Inhibitors of glutaminyl cyclase (QC) which is up-regulated early in Alzheimer’s Disease (AD) block toxic pGlu-Abeta formation, are safe in early clinics’ will be presented at:
- Society for Neuroscience 44th annual meeting, Neuroscience 2014 Meeting in Washington DC
Session: Aggregation of Amyloid, Tau, and Other Proteins on 18th November at 9:30am to 9:45am EST
- 7th annual Clinical Trials on Alzheimer’s Disease (CtaD) in Philadelphia
Late Breaking Poster Session P1-38 on 20th November.
For more information please contact:
Dr Konrad Glund, CEO, Probiodrug
Tel: +44 (203) 440-5653
Notes to Editors:
About Probiodrug AG
Headquartered in Halle, Germany, Probiodrug AG 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 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, over 35 million people worldwide currently live with the condition and this number is expected to double by 2030 and to more than triple by 2050 to 115 million (World Alzheimer Report 2013).
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.