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Mindset BioPharmaceuticals Ltd. Obtains Notice of Allowance for European Patent Related to Use of Insulin Sensitizers in Senile Dementia, Dementia and Memory Loss


2/24/2009 10:52:08 AM

NEW YORK, Feb. 24 /PRNewswire/ -- Mindset BioPharmaceuticals (USA) Inc ("MINDSET") a company privately held by MPM Capital and other shareholders announced today that it has received a Notice of Allowance in Europe related to patent applications describing the use of insulin sensitizer drugs for the prevention and treatment of memory loss. Drugs of this type include Rosiglitazone and Pioglitazone which have been approved for the treatment of type II diabetes mellitus. Glucose is used by cells in the brain to make energy that they need to live but glucose utilization may be impaired in the brain's of older people and especially those suffering from Senile Dementia or other forms of memory loss. There is growing evidence that this defective brain glucose utilization results from resistance to the action of insulin. Insulin sensitizer drugs such as Rosiglitazone and Pioglitazone help brain cells properly use glucose in individuals whose ability to use it is impaired. Several clinical studies have shown that these insulin sensitizer drugs improve learning and memory.

Dr. Daniel Chain, the Company's Founder & President and one of two inventors of the patent commented: "We are gratified that our seminal ideas concerning the ability of this class of drugs to combat Senile Dementia and other types of memory loss are being tested by GlaxoSmithKline, a major pharmaceutical company." Dr. Chain added: "We are hopeful that this new approach will help combat the devastating consequences of Senile Dementia and also help improve age-related memory loss affecting millions of older people who are not yet demented."

Professor Mike Cawthorne, Director of Metabolic Research, Clore Laboratory at The University of Buckingham (www.buckingham.ac.uk/clore) co-inventor with Dr. Chain and leader of the research team that originally discovered rosiglitazone as a diabetes treatment commented: "If insulin sensitizer drugs such as Rosiglitazone proves affective in clinical trials those results will surely herald an important new therapeutic option to improve the quality of life for people all over the world who suffer from various dementias as well as normal age-related memory loss."

About Mindset BioPharmaceuticals (USA) Inc

MINDSET is a privately held biopharmaceutical company focused on memory loss in Alzheimer's disease, Senile Dementia, Dementia and Age-Related Cognitive Impairment. Mindset has two wholly-owned subsidiaries: Mindset BioPharmaceuticals (Israel) Ltd which has collaborated with Proteome Sciences Plc on project Pro-Tamad to discover and patent proteins which may be used to develop tests for the early diagnosis and treatment of Alzheimer's disease and MindGenix Inc., (www.mindgenix.com) a contract research organization that provides testing in a preclinical model of Alzheimer's disease and related disorders.

For enquiries regarding potential collaboration and/or licensing opportunities regarding our technologies as well as investment in MINDSET, please contact:

Safe Harbor Statement Regarding Forward-Looking Statements

The statements in this release and oral statements made by representatives of Mindset relating to matters that are not historical facts (including without limitation those regarding future performance or financial results, the timing or potential outcomes of research collaborations or clinical trials, any market that might develop for any of Mindset's product candidates and the sufficiency of Mindset's cash and other capital resources) are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that actual performance or results could materially differ, that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, or Mindset's ability to fund such efforts with or without partners. Mindset undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof.

CONTACT: Dr. Daniel Chain, Ph.D., President of Mindset BioPharmaceuticals
(USA) Inc, +1-212-465-0900, daniel_chain@eartlink.net



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