Message #13 From:
Stock News Bot Date: September 22, 2005 07:31:00 AM
APNS News Applied NeuroSolutions Alzheimer's Test Featured On WGN-TV And In Medical Device Daily
VERNON HILLS, Ill.--(BUSINESS WIRE)--Sept. 22, 2005--Applied NeuroSolutions, Inc. (OTC BB:APNS) (www.appliedneurosolutions.com), a biotechnology company dedicated to developing products to diagnose and treat Alzheimer's disease ("AD"), said its Alzheimer's disease test was featured earlier this month on Chicago's WGN-TV news (http://wgntv.trb.com/news/local/eveningnews/wgntv-090705medicalwatch, 0,6713777.story?coll=wgntv-evening-news-2)(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.) and in the trade publication Medical Device Daily.
During the segment on WGN-TV News at Nine, medical reporter Dina Bair discussed how the test works, using cerebrospinal fluid to detect an abnormal protein that is found in people who have AD. The segment noted that a simple and accurate AD test would be significant because it would help differentiate AD from other dementias, enabling patients to start receiving treatments earlier. Such a test would also assist in the development of new medications and be helpful in testing the effectiveness of various therapies, according to the report.
The article in the trade publication Medical Device Daily focused on Applied NeuroSolutions' recent submission of its pre-IDE application with the FDA, studies that reflect the effectiveness of the test and the vast market potential for such a product.
"Early diagnosis and effective treatment of Alzheimer's is one of the most important healthcare issues facing our country and the world today," said Dr. John DeBernardis, President and CEO of Applied NeuroSolutions. "We're gratified that the public is becoming more aware of this issue."
Applied NeuroSolutions, Inc. is developing products to diagnose and treat Alzheimer's disease based on a novel hypothesis of AD pathology. In partnership with Dr. Peter Davies and a scientific team at Albert Einstein College of Medicine, Applied NeuroSolutions has developed a cerebrospinal fluid (CSF) test to detect Alzheimer's disease at a very early stage with 85%-95% accuracy in more than 3,000 patient samples. There are approximately 2 million new patients annually worldwide who are candidates for an AD CSF diagnostic test, according to Datamonitor. In the U.S. alone, Datamonitor projects an $80 to $160 million annual market potential.
The company is also developing a blood serum-based screening test, as well as a new class of therapeutics to treat AD. Alzheimer's disease currently afflicts over 4 million Americans, and the market for AD therapy is expected to grow to 21 million patients by 2010 in the seven major pharmaceutical markets (USA, France, Germany, Italy, Spain, U.K. and Japan) according to BioPortfolio, Ltd.
There are currently no FDA-approved diagnostic tests to detect Alzheimer's disease.
This press release contains forward-looking statements. Applied NeuroSolutions wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. For further information, please visit the company's website at www.appliedneurosolutions.com, and review the company's filings with the Securities and Exchange Commission.
