HALLE/SAALE, Germany, 13 May 2015 – Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s disease (AD), today announces its first quarter business update for the period ended 31 March 2015, in the form of an interim management report.
The interim management report including the first quarter 2015 business update is available for download on the company website (www.probiodrug.de/investors/reports-and-presentations/).
Operational Highlights
- Enrolment of first patient in Phase 2a “SAPHIR” study at leading Alzheimer Center in Amsterdam
- Key patents on Glutaminyl Cyclase (QC) inhibition for the treatment of AD granted in Japan
- Additional data on Glutaminyl Cyclases (QCs) in its relation to AD published in Acta Neuropathologica
- Data on Probiodrug’s Anti-pGlu-3 Abeta monoclonal Antibody presented at the 12th International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PDTM 2015), Nice
- Expenditures and corresponding cash position in line with management expectations
- As at 31 March, 2015 Probiodrug held EUR 18.7 million in cash and cash equivalents
Commenting on the first quarter, Dr Konrad Glund, Chief Executive Officer of Probiodrug said: “We have had a promising start to 2015. The start of the Phase 2a “SAPHIR” clinical study of our lead product candidate PQ912 is a significant achievement for the company. We strengthened our IP position in Japan with the grant of new patents. We also announced progress with our anti-pGlu-3 Abeta monoclonal antibody as well as further scientific insight on the role of Glutaminyl Cyclase (QC) and pGlu-Abeta in the pathology of AD.
“Furthermore, the beginning of 2015 has been significant for the Alzheimer’s field as a whole. Biogen reported early clinical data on its general Abeta Antibody showing slowing of disease progression, clearly supporting the concept of Abeta being key in the AD-pathology and encourages us to pursue our differentiated, toxicity focused approach.”
For more information, please contact:
Probiodrug
Dr Konrad Glund, CEO
Email: pbagnpg@cebovbqeht.qr
Hume Brophy
Mary Clark, Supriya Mathur, Hollie Vile
Tel: +44 (0) 203 440 5653
Email: cebovbqeht@uhzroebcul.pbz
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 Glutaminyl Cyclase (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, 44 million people worldwide currently live with the condition and this number is expected to almost double by 2030 and to more than triple by 2050 to over 132 million. Alzheimer’s also has an estimated, global societal cost of over $600 billion (World Alzheimer Report 2014).
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.