Alzheimer’s Drug Discovery Foundation (ADDF) has announced that the new therapeutics, developed by PharmatrophiX, has entered into a significant milestone in its development.
ADDF also announced that PharmatrophiX has entered into an exclusive collaboration with Elan to research, develop, and commercialize a portfolio of small-molecule compounds, for the treatment of Alzheimer’s disease and other neurodegenerative conditions.
Howard Fillit, executive director of ADDF, said: This work we are supporting at PharmatrophiX is truly revolutionary and shows great promise in preventing and treating this terrible disease. And this all started with an idea from Frank Longo that many thought was a little improbable. But ADDF is able to take chances on high-risk ideas – we know that this is often where the best solutions come from.
And PharmatrophiX’s exclusive collaboration with a major biotechnology company like Elan validates our funding to PharmatrophiX, and it underlines the significant impact of Longo’s discovery in the field of Alzheimer’s drug development, he added.
At ADDF, we are about results – bridging the gap between basic research and later stage drug development in humans. Alzheimer’s is the fifth leading cause of death in the elderly and the third most costly disease overall. We’re seeking to reduce the growing consequences this disease has on individuals and families, Mr. Fillit concluded.