Stockholm, Sweden - July 22, 2002

Mindset BioPharmaceuticals (USA) Inc. and New York University School of Medicine (NYUSM) announced today that they have signed an agreement through which Mindset becomes the worldwide exclusive licensee of a breakthrough vaccine technology for the treatment of Alzheimer’s disease. The first promising results obtained from transgenic animal studies at NYUSM were published last year by the prestigious American Journal of Pathology.  Scientists at Mindset, led by Dr. Cheryl Fitzer Attas, have discovered that the vaccine is also less likely to cause an autoimmune response in patients. Many opinion leaders attribute a so-called T-cell mediated autoimmune response to the incidence of brain inflammation in a recent Alzheimer’s vaccine trial.

AMYREXTM, the vaccine being developed by Mindset in collaboration with scientists at New York University, is based on a soluble, non-toxic and highly immunogenic, synthetic homologue of human Alzheimer’s amyloid toxin. Dr. Blas Frangione, Professor of Pathology at NYUSM commented: “It is widely believed that brain amyloid deposition is intimately related to neurodegeneration, which leads to dementia. Hence, preventing amyloidogenesis can arrest or delay Alzheimer’s disease. Our goal with the Alzheimer’s vaccine is to challenge the native immune system to undertake its natural defensive and protective role against abnormal protein folding using a safe highly immunogenic synthetic antigen.”  The vaccine has been demonstrated in animal models to inhibit the deposition of toxic amyloid fibrils that lead to Alzheimer’s disease.

Mindset holds several pending patent applications dating back from 1997, which claim the breakthrough concept of using antibodies directed against the Alzheimer’s toxin for the prevention and treatment of Alzheimer’s disease.

“The cutting-edge technology we have licensed from NYUSM strengthens our leadership position in developing immuno-based therapeutics for the treatment of Alzheimer’s disease. AMYREXTM fits well with Mindset’s existing intellectual property portfolio and activities in this area,” said Dr. Daniel Chain, President and Chief Executive Officer of Mindset BioPharmaceuticals.
 
Dr. Michael Schickler, Mindset’s Chairman added:  “Mindset has been a pioneer in this field while maintaining a strong emphasis on safety issues. Patient safety has been our principal focus both in developing passive immunization strategies based on uniquely engineered antibodies and for the vaccine approach, which ultimately depends on producing a safe immune response in patients”. 

Abram Goldfinger, Executive Director of Industrial Liaison/Technology Transfer at NYUSM said: “We are pleased to have concluded this agreement with Mindset which signals our confidence in the company’s abilities and expertise in Alzheimer’s disease research. We welcome the continuing collaboration between Mindset and NYUSM scientists”.

About Mindset BioPharmaceuticals

Mindset BioPharmaceuticals (US and Israel) is emerging as a leading developer of innovative therapeutic products for the treatment of Alzheimer's disease and other neurodegenerative diseases. Mindset’s therapeutic approaches are aimed at modifying the course of the disease, whereas existing therapies are essentially symptomatic, without affecting disease progression.

Mindset has developed a unique platform for lead drug candidate selection and optimization using transgenic mouse models to study drugs effects in Alzheimer's disease and other neurodegenerative disorders including cognitive impairment. MindGenix is a subsidiary of Mindset based in Albany, NY, which offers contract research in the transgenic models.

Mindset is led by a world-class team and is backed by two leading investment groups, MPM Capital and Clal Biotechnology Industries.

About Alzheimer’s Disease

Alzheimer’s disease is a  neurodegenerative disorder affecting approximately 8 million Europeans and Americans and the number is expected to rise dramatically with an increasing elderly population. With symptoms ranging from forgetfulness to language difficulties, from changes in mood and personality to loss of insight culminating in the destruction of brain cells, this devastating condition is one of the leading causes of death in the western world.

Until now, no cure or disease-modifying therapy has been developed for Alzheimer’s disease. Drugs currently available for the treatment of the disease appear to affect symptoms of the disease, rather than the underlying pathogenesis. There is an urgent need to rethink the goals of Alzheimer’s disease treatment and to create drugs that will not only alleviate cognitive problems associated with the malady’s early stages, but more importantly, slow progression and even prevent the disease altogether. Mindset is poised to meet the therapeutic challenge created by the steadily rising prevalence of Alzheimer’s disease and other neurological disorders.

Contact Details:

Mindset BioPharmaceuticals Ltd.
5 Kiryat Hamada Street
Har Hotzvim
Jerusalem
Israel
Tel: 972 2 541 2727
Fax: 972 2 541 2726
E-mail: info@mindset.co.il
Website: www.mindset.co.il