Intellect Neuroscience is very promising small biotech, but like vast majority of biotechs out there it is lacking funds. AD is the next frontier for biotechs, pharmas and health care providers alike coinsiding with burgeoning baby boomers and overall aging population.
Current therapies don't even come close to addressing the vast needs of Alzheimers patients. As matter of fact current pharmacological agents are marginally effective at best. Effective treatment is desperately needed.
Company raised $200k for the short term, but the they're trying to raise $3 to $5mil to initiate PII trial for Oxigon, which "has been successfully tested for safety across animal species and in two human Phase I clinical trials conducted in a total of 90 healthy elderly volunteers".
Oxigon is a chemically synthesized form of a small, naturally occurring molecule that has anti- fibrillogenic, neuroprotectant and antioxidant properties. Oxigon can reduce accumulation of toxic soluble beta-amyloid peptides and inhibit plaque deposition. Simultaneously, it acts as a neuroprotectant, preventing neuronal damage from beta-amyloid-induced oxidative stress. Preclinical studies using transgenic mouse models have provided evidence that Oxigon has the potential to reduce brain amyloid burden and improve cognition in Alzheimer's disease. Additional studies have demonstrated the
potential utility of Oxigon to treat indications and conditions such as Parkinson's, Huntingdon's and other diseases in which oxidative stress is a significant contributing factor.
Company sent out letter to their preferred convertible shareholders to covert their shares into common shares at $0.10 per share, so that the company can raise additional funds through selling shares to fund Oxigon development. Also, the company is seeking to increase authorized shares from 100mil to 650mil as well as seeking approval for reverse split if deemed beneficial to list on higher exchanges, Nasdaq.
Inspite of negative sentiment surrounding possible r/s in the future and potential dilution the conversion may result, I'm quite bullish on this company for their science, knowledge, portfolio of drug candidate in the area of Alzheimers disease as well as their management. I hate to think what might happen to the share price if certain milestones are achieved, but the potential is quite enormous.
For those willing to wait patiently, these prices could absolutely payoff big time. Of course, the risk is definitely present as well. However, when Wyeth, now Pfizer, Elan and J&J have done thorough DD and poured hundreds of millions of dollars to date and additional million in the ongoing P3 studies, odds of success in investing ILNS is compelling.
