NEW YORK, Nov. 23, 2016 /PRNewswire/ -- Neurotrope, Inc. (OTCQB: NTRP), a company focused on developing drugs to treat neurodegenerative diseases including Alzheimer's disease, today issued a statement on Eli Lilly's experimental drug solanezumab. Lilly stated that, based upon results from its recent Phase 3 clinical trial, solanezumab failed to improve cognition of patients with mild Alzheimer's disease.
Dr. Daniel Alkon, Neurotrope's President and Chief Scientific Officer stated' "I deeply regret the news released today that Lilly's latest trial of its leading Alzheimer's drug candidate has failed. Lilly's dedication and persistence to finding a cure for this devastating affliction deserves everyone's admiration and gratitude.
Repeated attempts to treat or even slow the relentless progression of Alzheimer's disease by targeting the red flag in patient's brains called amyloid plaques have continued to lead to such disappointing outcomes.
Neurotrope has focused all of its resources on regenerative medicine that would replace the lost synaptic networks that are so consistently associated with the breakdown of human cognitive functions. Bryostatin, a drug that induces growth of new networks to replace those that have degenerated while also degrading plaques and tau tangles, may also address the red flags of this scourge threatening increasing numbers of the world's aging populations. At Neurotrope, we believe that treating Alzheimer's disease is a daunting challenge that will need to be treated by a drug with multi modal efficacy. We believe that our drug bryotstatin may be the drug. The top line results of our Phase 2 study with 148 patients is expected to be announced in April 2017.
We hope, at that time, that a new therapy will be viewed as a possible future treatment for this disease."
Neurotrope BioScience, Inc., a wholly owned subsidiary of Neurotrope, Inc., is at the forefront of biotechnology companies having a focus on developing a novel therapy for the treatment of moderately severe to severe Alzheimer's disease. The scientific basis of our treatment is activation of Protein Kinase C isozymes and by bryostatin, a natural product, which in mouse AD models was demonstrated to result in repair of damaged synapses as well as synaptogenesis, the induction of new neuronal networks, reduction of toxic beta-amyloid generation, prevention of neuronal death, and enhancement of memory and learning, thus having the potential to improve cognition and behavior in Alzheimer's disease.
Neurotrope is also conducting preclinical studies of bryostatin-1 as a treatment for Fragile X Syndrome and Niemann-Pick Type C disease, two rare genetic diseases for which only symptomatic treatments are currently available. The FDA has granted Orphan Drug Designation to Neurotrope for bryostatin-1 as a treatment for Fragile X Syndrome. Bryostatin-1 has undergone testing in over 1,500 people establishing a large safety database.
Neurotrope has exclusively licensed technology from Cognitive Research Enterprises (formerly named the Blanchette Rockefeller Neurosciences Institute) for Alzheimer's disease therapeutics and Fragile X Syndrome and has a world-wide, exclusive license with the Icahn School of Medicine at Mt. Sinai for Niemann-Pick Type C disease.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding the proposed study and timing of initiation, and continued development of use of bryostatin for Alzheimer's disease and other cognitive diseases, and the Company's ability to list its common shares on a major stock exchange. Such forward-looking statements are subject to 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 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 patent portfolio, the Company's inability to expand the Company's business, the Company's inability to meet listing requirements for major stock exchanges, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, availability of the Company's raw materials, existing or increased competition, 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 Annual Report on Form 10-K for the year ended December 31, 2015 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. The Company does not undertake to update these forward-looking statements.
Please visit www.neurotropebioscience.com for further information.
For additional information, please contact:
Jeffrey Benison, Investor Relations
212 334 8709 or 516 286 6099
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SOURCE Neurotrope, Inc.