Apr 17 Intellect Neurosciences, Inc. (ILNS)
OtcWizard, Penny PayDay, MadPennyStocks, PennyStockVille, CoolPennyStocks, Stock Rich, SmallCapStockPlays, StockEgg, PennyInvest, BullRally, HotOTC, and OTCPicks reported earlier on Intellect Neurosciences, Inc. (ILNS), and we are reporting on the Company, here at the QualityStocks Daily Newsletter.
OTCQB listed Intellect Neurosciences, Inc. is a biopharmaceutical company based in New York, New York. It is developing and advancing a patent portfolio related to specific therapeutic approaches for treating Alzheimer's disease (AD). The Company is also developing proprietary drug candidates to treat AD and other diseases associated with oxidative stress. Intellect Neurosciences’ central business strategy is the licensing of its intellectual property (IP) and development of innovative therapeutics that it has purchased, developed internally, or in-licensed from universities and others.
Intellect looks to complete human proof of concept (Phase II) studies and subsequently enter into collaboration agreements, licenses or sales to complete product development and commercialize the resulting drug products. Its intention is to reap revenues from licensing fees, milestone payments, development fees, royalties and/or sales related to the use of its drug candidates or IP for specific therapeutic indications or applications. The Company’s current business centers on granting licenses to its patent estate to large pharmaceutical companies and on R&D of proprietary therapies for the treatment of AD through outsourcing and other arrangements with third parties.
Intellect’s pipeline includes drugs based on its immunotherapy platform technologies, ANTISENILIN and RECALL-VAX. The basis of these immunotherapy programs are on monoclonal antibodies and therapeutic vaccines, respectively, to prevent the accumulation and toxicity of the amyloid beta toxin. Both are in pre-clinical development. Intellect’s lead product candidate in its immunotherapy programs is IN-N01. This is a monoclonal antibody that has undergone particular procedures in the humanization process at MRCT in the UK.
Neurosciences’ most advanced drug candidate is OX1. This is a chemically synthesized form of a small, potent, dual mode of action, naturally occurring molecule. The Company granted an exclusive license to ViroPharma, Inc. in September of 2011, regarding certain of Intellect Neurosciences licensed patents and patent applications related to OX1. It transferred to ViroPharma all of its data and knowledge related to OX1 in exchange for payment by ViroPharma of a $6.5 million up-front licensing fee and additional regulatory milestone payments based upon future defined events in the United States and the EU. ViroPharma expects to develop and commercialize OX1 as a treatment of Friedreich's Ataxia and possibly other diseases for which OX1 may qualify for orphan drug designation.
This past January, Intellect announced that it obtained a Notice of Allowance from the United States Patent and Trademark Office (USPTO). The patent allowance is for TOC-1. This is a monoclonal antibody that selectively binds neurotoxic pre-fibrillar tau aggregates that are important pathological components in AD and other neurodegenerative tauopathies. Intellect Neurosciences previously obtained development and commercialization rights to TOC-1 under an exclusive license agreement with Northwestern University.
Intellect Neurosciences, Inc. (ILNS), closed Wednesday's trading session at $0.008, down 11.11%, on 1,923,877 volume with 35 trades. The average volume for the last 60 days is 2,172,792 and the stock's 52-week low/high is $0.0041/$0.013.
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