Proteome Sciences plc (“Proteome Sciences”), the Aim listed proteomics and gene expression research company, and Mindset BioPharmaceuticals Ltd (“Mindset”), the Israeli Alzheimer's disease drug discovery and development company, are pleased to announce today that they have together been awarded a £450,000 grant by The Britech Foundation (“Britech”) for a research programme into Alzheimer’s disease.
Proteome Sciences will use its leading edge, high sensitivity proteomics techniques to map and quantify changes in protein expression using Mindset BioPharmaceuticals' highly regarded model systems for Alzheimer's disease which will be applied to the discovery of new targets for therapy and for new improved diagnostic markers for this highly prolific condition.
The three year project will provide a unique and powerful partnership for drug discovery and diagnostic markers for Alzheimer's disease.
It has been estimated that there are about ½ million Alzheimer's suffers in Britain and, according to the American Alzheimer's Association, approximately 4 million people in the USA suffer from Alzheimer's. Most of them are over the age of 65 and half of all Americans over 85 are thought to have Alzheimer's. By 2005, it has been predicted that this will rise to over 14 million people in the US alone. For a disease that can span from two to twenty years, the cost in the USA is currently estimated at $180bn annually.
The project has been awarded the grant by The Britech Foundation, a joint UK-Israel body established to fund innovative research programmes between commercial entities in the two countries.
Christopher Pearce, Chief Executive of Proteome Sciences commented:
“Our association with this research programme and the opportunity to combine our proteomics skills with Mindset’s experience in Alzheimer's to research this disease is another exciting development that will further enhance our specific and well established capabilities in the area of neurodegenerative diseases.”
Commenting on the award, Tony Warwick, Chief Executive of Britech, said
"We are delighted to be able to support this very exciting project and the new alliance between Proteome Sciences and Mindset. The biotechnology synergies between the UK and Israel continue to impress us enormously, and I'm confident we will be seeing many more high-quality projects in this sector".
For further information please contact:
Proteome Sciences plc
Christopher Pearce,
Chief Executive
Tel: +44 (0)1932 86506
E-mail: psplc@compuserve.com
Public Relations for Proteome Sciences
Ikon Associates
Adrian Shaw
Tel: +44 (0)1483 271291
Mobile: +44 (0)797 9900733
E-mail: adrian@ikon-associates.com
The Britech Foundation Ltd
Dr Tony Warwick,
Chief Executive
Tel: +44 (0)118 988 0275
Fax: +44 (0)118 988 0375
E-mail: tony.warwick@britech.org
Adi Riza,
Manager
Israel
Tel: +972 3 754 9581
Fax: +972 3 754 9582
E-mail: britech@actcom.co.il
Notes for editors:
The Britech Foundation (www.britech.org) was formed in 1999 as a result of an intergovernmental agreement between the United Kingdom and the State of Israel to set up a £15.5m British-Israel industrial R&D Fund. This follows the success of other bi-national R&D funds deployed in Israel. The Britech fund is used to promote and encourage high-technology R&D collaboration between firms in Britain and Israel, and provides direct support for collaborative projects aimed at the development of commercial products or processes. Britech has offices in Reading, UK and Tel Aviv, Israel
Mindset BioPharmaceuticals (USA) Inc. is pleased to announce the signing of a service agreement in which H. Lundbeck's drug candidates will be tested in Mindset’s unique double transgenic-mouse model of Alzheimer's disease and cognitive impairments. The model develops behavior abnormalities and the hallmark features of Alzheimer's neuropathology, including amyloid plaque deposition, at an early age. This model enables rapid screening of multiple drug candidates. Mindset, which is the only company licensed to offer 3rd-party testing in the double transgenic (APP/PS1) mouse model, provides state-of-the-art services including, validated biochemical tests, high through-put neuropathology and behavioral testing, to accelerate and enhance the pharmaceutical lead selection process.
Mindset's CEO Dr Daniel Chain comments: “We are excited by this opportunity to collaborate with Lundbeck where we are able to contribute a unique capability in Alzheimer’s disease preclinical research. We appreciate Lundbeck’s confidence in our operations and believe that Mindset’s services which are available to companies worldwide, will soon become the gold standard for pre-clinical testing of drugs intended for the treatment or prevention of Alzheimer’s disease and other cognitive disorders”.
Mindset BioPharmaceuticals, an expanding research and discovery company, is an innovative leader in the development of disease-modifying therapies for Alzheimer's disease and other degenerative conditions of the brain. Mindset has proprietary programs in small molecules and immunotherapies aimed at relieving the suffering of patients with neurodegenerative diseases. In addition to its own development programs, Mindset is further assisting the worldwide effort in combating Alzheimer's disease. The Company offers unique research services to third parties utilizing the double transgenic (APP/PS1) model of AD.
For more details, please contact:
Irene Zeitoun, PhD, MBA
E-mail: izeitoun@mindset.co.il
Tel: +972-2-541 2727
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