NEW YORK, March 21, 2011 /PRNewswire-USNewswire/ — The
Alzheimer’s Drug Discovery Foundation (ADDF) announced that it has
awarded a grant of $170,750 to ADispell Inc. to develop small
molecule drugs designed to halt the progression of cognition loss
that occurs with Alzheimer’s Disease.
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ADispell has licensed technology from Cornell University to
develop neuroprotective drug candidates targeting a novel site on
the nicotinic acetylcholine receptor which is critical for memory
processing. These new drug candidates should improve
symptoms, slow the progression of Alzheimer’s disease and
potentially reverse the course of the disease. The ADDF’s
grant will fund a significant pharmacological proof-of-concept
program to validate the effects of these compounds in animal
models.
“We are really grateful that the ADDF has found value in our
innovations and is supporting our work to move this important
technology forward,” said Stephen Curry, Ph.D., Chief Executive
Officer for ADispell. “We have identified a novel drug target that
improves mental performance and compounds that act on that target
to improve brain function. These funds will allow us to gain a
better understanding of how the compounds affect diseases that
cause cognition loss.”
“ADispell’s unique approach to targeting memory loss holds great
promise as a treatment for Alzheimer’s disease,” said Howard
Fillit, M.D., Executive Director for the ADDF. “The ADDF’s
investment in ADispell at this critical proof-of-concept stage has
the potential to advance their program to the next stage of
development.”
There are estimated to be more than 5 million patients in the
United States and more than 35 million individuals worldwide
suffering from Alzheimer’s disease. The disease is believed
to have an annual impact of $172 b
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