SOURCE: Alzheimer's Drug Discovery Foundation

December 02, 2008 16:26 ET

Alzheimer's Drug Discovery Foundation Funds P2D to Develop Anti-Alzheimer's Disease Drug

NEW YORK, NY--(Marketwire - December 2, 2008) - The Alzheimer's Drug Discovery Foundation (ADDF) announced today that it is providing a biotechnology founder's grant of $300,000 to P2D Biosciences (P2D), a start-up biotechnology company dedicated to developing drugs that prevent Alzheimer's disease (AD).

The grant will assist P2D develop novel compounds based on the drug thalidomide (Thalomid®, Celgene), which aims to prevent or slow neuronal cell death in AD. Thalidomide is currently approved for treating multiple myeloma and has been demonstrated to block the tumor necrosis factor-alpha (TNF-alpha) protein. Tumor necrosis factor is a mediator of neuronal cell death in response to inflammation and injury in the nervous system. Multiple lines of evidence suggest that TNF-alpha plays a role in AD.

"We are developing potent analogs that are up to 70-fold stronger inhibitors of TNF-alpha than thalidomide," said Prasad Gabbita, PhD, P2D's VP for Preclinical Drug Development. "We are also focused on modifying these small molecules to improve the bioavailability and CNS permeability of these compounds while reducing their toxicity profile."

"A compound that could block TNF in the brain could potentially modify the course of AD progression," said Howard Fillit, MD, ADDF's Executive Director. "If these preclinical studies are successful, P2D can test the thalidomide mimetic compounds they are currently developing in clinical trials."

ADDF is awarding the grant through its Fund for Alzheimer's Drug Discovery, an investment vehicle based on a for-profit venture fund model. The purpose of the Fund is to provide a catalyst for early-stage drug discovery and development research by making venture philanthropy grants to biotechnology companies.

About the Alzheimer's Drug Discovery Foundation

The Alzheimer's Drug Discovery Foundation (ADDF) is a public charity established in 2004 to expand upon the programs initiated by the Institute for the Study of Aging (ISOA), a private foundation founded by the Estee Lauder family in 1998. The organization's sole mission is to accelerate drug discovery research to prevent, treat and cure Alzheimer's disease, related dementias and cognitive aging through venture philanthropy. To date, ADDF and ISOA have awarded over $33 million for more than 240 research programs and conferences worldwide. For more information, please visit www.alzdiscovery.org.