Intellect Neurosciences Inc. (fka ILNS)

[montanus]

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Letter to Shareholders

NEW YORK, Aug. 7, 2012 (GLOBE NEWSWIRE)

"Intellect Neurosciences has carefully planned a survival strategy to ensure its continued viability. In doing so, we have remained ahead of the curve with respect to next-generation therapies by creating multiple distinctive platform technologies that generate drug candidates for a wide variety of diseases. We also have protected our work through an extensive global patent portfolio. Consequently, Intellect has a significant value proposition in our preclinical programs and in our OX1 product, which was licensed to ViroPharma and is anticipated to enter Phase 2 clinical trials in patients with Friedreich's Ataxia. With the anticipated completion of Phase 2 trials by 2015, Intellect could receive in excess of $100 million in milestone payments from ViroPharma and, upon regulatory approval, royalties from sales in this orphan indication over many years. Prior to 2015, new licensing deals for our pipeline programs could yield substantial non-dilutive capital.

Thank you for your continued support of Intellect Neurosciences and our important mission to create a world without Alzheimer's disease and other debilitating neurodegenerative diseases.

Sincerely,

Daniel Chain, Ph.D.

Chairman & CEO"


http://ir.stockpr.com/intellectns/press-releases/detail/783/intellect-neurosciences-issues-letter-to-shareholders