PLANTATION, Fla., Oct. 15, 2013 /PRNewswire/ --Neurotrope, Inc. (OTCQB:NTRP) (the "Company") announced today that Dr. Larry D. Altstiel, M.D., Ph.D. has been appointed to the Company's Scientific Advisory Board. Dr. Altstiel is an expert in several neurodegenerative disease states with respect to their potential causes and treatments. He has extensive clinical and operational experience in pharmaceutical development and has published many related articles and abstracts in his field of study.
Dr. Altstiel is currently the Chief Executive Officer of Provectra, an early-stage biotechnology company developing novel gene therapy for neurodegenerative diseases. Dr. Altstiel is responsible for all of Provectra's product development activities, while leading Provectra toward commercializing products based upon its proprietary gene therapy technologies.
From 2007 to 2013, Dr. Altstiel was Vice President Neuroscience Clinical Development, Neuroscience Therapeutic Area Clinical Lead, at Pfizer Inc. His principal responsibilities were directing the PGRD Neuroscience Research Unit clinical research, which included governance, operational and budgetary responsibilities for: preclinical biology and first in human studies; supervising of transitional medical plans and related external alliances; supervising clinical teams conducting early phase clinical research from translational medicine through proof of concept and subsequent Phase 3 clinical trials.
Dr. Altstiel's other positions included Senior Vice President, Head of Global Clinical Development, at Schwarz Biosciences, Inc., Vice President for Research Operations at Eisai Medical Research Inc. and Schering-Plough and Senior Clinical Research Physician and Group Leader for Neurodegenerative Diseases Clinical and Discovery Research for Alzheimer's Disease, Parkinson's Disease and Stroke at Eli Lilly and Company. Dr. Altstiel also has gained extensive experience in psychiatry and neurology at Mount Sinai School of Medicine, Columbia Presbyterian Medical Center and Hospital and The Bronx Veteran's Administration Medical Center.
Dr. Altstiel has published over 60 publications and abstracts over the last 35 years on topics including neurodegenerative diseases such as Alzheimer's Disease and their related pharmacogenetics and potential treatments. He earned his B.S. in Chemistry / Physics at the University of Illinois, his Ph.D. in Cell Biology, Virology and Physical Chemistry at The Rockefeller University and his M.D. at The University of Miami, Miller School of Medicine.
"I am very pleased to join Neurotrope's Advisory Board and help with their product development," stated Dr. Altstiel. "The Company's novel approach to diagnosing and treating neurodegenerative disease is very exciting, and I look forward to contributing to Neurotrope's efforts in developing diagnostics and treatments for Alzheimer's Disease and other neurodegenerative diseases."
The Company's Chief Executive Officer, Dr. Jim New, said, "We are very pleased to have formalized a collaborative relationship with Dr. Altstiel. Dr. Altstiel's expertise in developing neurodegenerative disease products through research and development and shepherding those products through clinical trials will be of great help to Neurotrope as it continues to develop its neurodegenerative disease products."
Neurotrope was formed in October 2012 to develop and market two product platforms, including a non-invasive diagnostic test for Alzheimer's Disease and a drug candidate called bryostatin for the treatment of Alzheimer's Disease, both of which are in the clinical testing stage. Neurotrope was formed for the primary purpose of commercializing certain technologies that were initially developed by Blanchette Rockefeller Neurosciences Institute ("BRNI") and its affiliates, for therapeutic or diagnostic applications for Alzheimer's Disease or other cognitive dysfunctions. These technologies have been under development since 1999 and have been financed through significant funding from a variety of non-investor sources. The Company expects that its first product, the diagnostic test for Alzheimer's Disease, will finish the testing phase of its development in 2015, whereupon the Company will evaluate the feasibility of its commercialization. In addition to bryostatin and the diagnostic test for Alzheimer's Disease, the Company intends to pursue development of two other technology platforms developed by and licensed from BRNI: the first, a platform for transporting drugs into the brain through the "blood-brain-barrier," and the second, a group of drugs for enhancing cognition, mood and alertness for neuropsychiatric conditions.
Please visit www.neurotropebioscience.com for further information.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of commercially viable pharmaceuticals, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.
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SOURCE Neurotrope, Inc.