Pain Therapeutics Awarded $3.2 Million NIH Grant to Study Alzheimer’s Disease
15 Août 2018 - 2:00PM
– NIH Grant will Support Clinical Testing
of PTI-125 –
Pain Therapeutics, Inc. (Nasdaq: PTIE), a biopharmaceutical
company, today announced that the National Institutes of Health
(NIH) has awarded the Company a $3.2 million clinical research
grant to support a Phase II study with PTI-125, the Company’s drug
candidate to treat Alzheimer’s disease. Pain Therapeutics
expects to initiate the study in Q4 2018.
"We are once again grateful to the NIH for its
support of our clinical program around PTI-125," said Remi Barbier,
President & CEO of Pain Therapeutics. “There is a
profound need to develop new drugs for patients with
Alzheimer’s. NIH has long been a champion of innovative new
science that stands up to rigorous, peer-reviewed evaluation and
that has potential to benefit human health in areas of unmet needs,
such as Alzheimer's."
The NIH's National Institute on Aging awarded
this clinical research grant to Pain Therapeutics following an
in-depth, peer-reviewed evaluation of PTI-125 for scientific and
technical merit.About PTI-125Pain
Therapeutics believes its program in Alzheimer’s has game-changing
characteristics. Its lead drug candidate, PTI-125, is a small
molecule that has a unique mechanism of action for treating
Alzheimer’s disease. The underlying science for PTI-125 is
published in prestigious technical journals, including Journal of
Neuroscience, Neurobiology of Aging, and Neuroimmunology and
Neuroinflammation, with additional technical publications
pending. The Company is also waiting to hear back from the
NIH regarding a second research grant application to support
PTI-125.
The Company’s other asset in Alzheimer’s is a
simple blood test, called PTI-125DX, to detect or confirm whether a
person has Alzheimer’s disease, even years before symptoms
appear. An early diagnosis of Alzheimer's could allow
treatment to start sooner, optimize treatment options for each
individual and improve chances to slow or halt the disease.
About Alzheimer's
DiseaseAlzheimer’s Disease (AD) is a progressive brain
disorder that slowly destroys memory and thinking skills, and
eventually the ability to carry out the simplest tasks. There
is no approved drug therapy to reverse, or even halt, the course of
AD.
Strategic Reorganization Expected to be
Announced ShortlyPain Therapeutics has initiated a
strategic reorganization to align its resources on advancing its
drug and diagnostic assets in Alzheimer’s disease. Full
details of this reorganization plan, including details of its
planned Phase II study in Alzheimer’s, specific milestones and
measures of clinical progress, will be shared with the public via
conference call within weeks, after the reorganization is
finalized.
About Pain
Therapeutics, Inc.Pain Therapeutics, Inc. is a
clinical-stage biopharmaceutical company that develops novel
drugs. The FDA has not yet established the safety or efficacy
of any of our drug candidates. For more information, please
visit www.paintrials.com.
Note Regarding Forward-Looking
Statements: This press release contains forward-looking
statements for purposes of the Private Securities Litigation Reform
Act of 1995 (the "Act"). Pain Therapeutics disclaims any
intent or obligation to update these forward-looking statements,
and claims the protection of the Safe Harbor for forward-looking
statements contained in the Act. Examples of such statements
include, but are not limited to, statements regarding the
reorganization of the Company’s resources, and the timing of public
announcements regarding such reorganization; and the potential
benefits of the Company’s program in Alzheimer’s disease.
Such statements are based on management's current
expectations, but actual results may differ materially due to
various factors. Such statements involve risks and
uncertainties, including, but not limited to, those risks and
uncertainties relating to our financial and operational ability to
carry out development activities around Alzheimer’s disease.
For further information regarding these and other risks
related to our business, investors should consult our filings with
the U.S. Securities and Exchange Commission.
For More Information Contact:Ruth
ArayaPain Therapeutics, Inc.IR@paintrials.com(512) 501-2485
Pain Therapeutics (NASDAQ:PTIE)
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