Intellect Neurosciences, Inc.
Intellect Neurosciences Inc. (OTCBB: ILNS) is a biopharmaceutical company engaged in the discovery and development of immunotherapeutic approaches that are designed to address multifactorial diseases caused by the abnormal folding of proteins, collectively known as proteinopathies affecting the brain and the eye. Intellect’s business strategy is to develop its drug development programs to a point of value accretion where they can be partnered with large pharmaceutical companies to accelerate commercialization. The company has already entered into licensing transactions that could result in substantial revenues from milestone and royalty payments if the licensed products are successfully developed through clinical trials and commercialized. Of particular note, is the transaction with ViroPharma that recently stated it plans to enter Phase 2 clinical trials in patients with Friedreich's Ataxia, an orphan indication in 2013. Intellect could receive in $120 million in milestone payments from ViroPharma and, if approved, double digit royalties from sales over many years.
Intellect’s pipeline has evolved from the vision of its former Chairman and CEO, Dr. Daniel Chain, who spearheaded the development of several innovative therapeutic drugs for the treatment of diverse disease indications such as Friedreich’s Ataxia a rare neurodegenerative condition that manifests in childhood and age related macular degeneration, the leading cause of blindness in elderly people. Intellect’s technology includes several inventions of Dr. Chain in addition to technology he identified and in-licensed on behalf of the company.
Intellect remains ahead of the curve with respect to creating next-generation therapies and is currently active in two main areas, a completely novel application of antibody drug conjugates in which monoclonal antibodies are empowered with anti-oxidant and anti-inflammatory activities and immunotherapy approaches targeting various neurotoxic forms of tau protein which has relevance to multiple different disease indications.
The Manhattan-based company outsources its R&D activities working with academic centers of excellence and specialized contract research organizations both nationally and internationally which allows the company to maintain a highly efficient and cost effective structure.