NEW YORK, May 6, 2010 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company focused on development of disease-modifying therapeutic agents for Alzheimer’s disease (“AD”), announced today that it has reached a debt settlement agreement with CARBOGEN AMCIS AG, one of Intellect’s largest trade creditors, in connection with prior services rendered. As a result of the settlement agreement, CARBOGEN will remain a key supplier of Intellect’s lead internal drug candidate, OXIGON™ (OX1), which has potential for the treatment of Alzheimer’s disease and other important indications.
