NEW YORK, Nov. 21 /PRNewswire-FirstCall/ -- Intellect Neurosciences, Inc. , a biopharmaceutical company focused on development of disease-modifying therapeutic agents for the treatment and prevention of Alzheimer’s disease released today the following Letter to Shareholders from Dr. Daniel Chain, its Chairman and CEO.
Dear Shareholders,
It is my privilege to serve as Chairman and CEO of Intellect Neurosciences Inc., which I helped found in 2005. As this year draws to a close, I would like to update you regarding the Company’s activities and achievements. I am proud to report that Intellect has made important progress in key areas that I believe will add enormously to the future value of the Company and reward you for your support.
Our strategy to bring Intellect to a leading position in the creation of treatments for Alzheimer’s disease (“AD”) has three components:
Intellect has made significant progress in each component of the strategy. Some highlights follow:
2. Identify and develop Intellect’s product pipeline:
3. Leverage our investment in our technology platforms:
Based on our transforming scientific discoveries and sound business model, Intellect is on track to become a major player in the discovery and development of drugs to treat AD, a devastating disease that is rapidly growing in prevalence and for which there are currently no efficacious disease-modifying treatments. We have made excellent progress towards achieving our goal for our company even in the face of a truly daunting financial market.
Financially, we continue to vigorously pursue various options to provide the funding necessary to fully realize the aforementioned strategy. We thank you for your patience and understanding as we go through this process.
As we move forward to realize the potential of our discoveries, we are grateful for the support and confidence of all of our shareholders. Be assured that we are steadfast in the pursuit of our goal to build a company that makes significant contributions to the public health and that brings outstanding financial rewards to its investors.
Thank you for your continued interest and support of Intellect Neurosciences, as we work to develop new drugs aimed at slowing or preventing Alzheimer’s disease.
Sincerely,
Daniel Chain, Ph.D.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. is a biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment and prevention of AD and other disorders. The Company has a broad proprietary immunotherapy platform for both passive and active immunization against AD. Also, Intellect has completed Phase I clinical trials for OXIGON(R), which has the potential to be used as a treatment for AD and other serious disorders.
For additional information, please visit http://www.intellectns.com,
Safe Harbor Statement Regarding Forward-Looking Statements
The statements in this release and oral statements made by representatives of Intellect 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 Intellect’s product candidates and the sufficiency of Intellect’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 Intellect’s ability to fund such efforts with or without partners. Intellect 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. Accordingly any forward-looking statements should be read in conjunction with the additional risks and uncertainties detailed in Intellect’s filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in Intellect’s Annual Report on Form 10-KSB/A (file no. 333-128226) filed on November 7, 2008.
CONTACT: Elliot Maza, JD, CPA President & Chief Financial Officer,
Intellect Neurosciences, Inc., +1-212-448-9300
Web site: http://www.intellectns.com/
