Intellect Neurosciences, Inc.
Intellect Neurosciences Inc. (OTCBB: ILNS) is a biopharmaceutical company engaged in the discovery and development of therapeutic approaches designed to address multifactorial diseases caused by the abnormal folding of proteins, collectively known as proteinopathies. We are particularly focused on Alzheimer’s amyloidosis and related tauopathies.
Intellect’s business strategy is to develop its drug candidates to the point where they are attractive to large pharmaceutical companies and then to enter into license or partnership agreements to with such companies to accelerate commercialization. As an example, we acquired OX1 (now known as SHP622) a small molecule, multi-modal, antioxidant experimental medicine, completed preclinical studies and human safety trials, and then licensed the program to ViroPharma for development of a drug to treat Friedreich's Ataxia (FA) and other neurodegenerative diseases. Under the license agreement, Intellect could receive up to $120 million in milestone payments and significant sales based royalties if the drug product is approved for sale by the relevant regulatory authorities such as the FDA and EMA.
Intellect’s current focus is on tau passive immunotherapy for the treatment of Alzheimer’s disease. The company in-licensed a monoclonal antibody from Northwestern University pursuant to an exclusive, worldwide development and commercialization license agreement and developed a patented method to use the antibody to target a particularly toxic form of tau protein known as TauC3. Initial animal data conducted by the company indicates disease-modifying potential for the TauC3 antibody and is the basis for a new set of studies to be conducted in collaboration with a leading academic Alzheimer’s investigator. The new studies, expected to commence in early 2015, are aimed at demonstrating the competitive advantage of Intellect’s TAUc3 antibody compared to tau antibodies under development by other companies.
Intellect outsources its R&D activities. The company works with academic centers of excellence and specialized contract research organizations, which allows the company to maintain a highly efficient and cost effective structure.