DGAP-News: Curaxis Pharmaceutical Corp.: CEO PATRICK S. SMITH COMMENTS ON RECENT NEW YORK TIMES ARTICLE
ID: 364130
Curaxis Pharmaceutical Corp.: CEO PATRICK S. SMITH COMMENTS ON RECENT
NEW YORK TIMES ARTICLE
10.03.2011 / 10:37
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CURAXIS Pharmaceutical Corp.
Contact: David Corcoran
Email: dcorcoran@curaxispharma.com
European Advisor: Andreea Porcelli
Phone: 0035-2-2088-0289
Email: andreea.porcelli@contiadvisors.com
________________________________________________________________________
FOR IMMEDIATE RELEASE
CURAXIS PHARMACEUTICAL CORP. CEO PATRICK S. SMITH COMMENTS ON RECENT NEW
YORK TIMES ARTICLE
'DRUG FIRMS FACE BILLIONS IN LOSSES IN '11 AS PATENTS END'
DURHAM, NC - March 10, 2011 - Patrick S. Smith, President and Chief
Executive Officer of Curaxis Pharmaceutical Corp. (OTCQB: CURX) (Frankfurt:
8CX), commented today on an article by Duff Wilson published in the New
York Times on March 6, 2011. According to Mr. Smith, the article titled
'Drug Firms Face Billions in Losses in '11 as Patents End,' which discusses
the rationale for investing in Big Pharma while patents are expiring and
drug pipelines are virtually empty, can be viewed as positive news for
Curaxis.
'Mr. Wilson's article mentions the recent failures of Alzheimer's drugs in
FDA trials sponsored by major pharmaceutical companies, which were largely
based on beta amyloid that have shown no statistical significance in the
trials, as well as having serious side effects on patients. Curaxis is
taking a different approach to treating Alzheimer's with a form of
leuprolide proven to be extremely safe by reducing the overproduction of a
leutenizing hormone that is commonly found in older people and scientific
research has shown to be a contributing factor to Alzheimer's,' said Mr.
Smith
Curaxis' lead hormone drug candidate Memryte has shown statistical results
which appear equal to, if not better, than those reported of any
Alzheimer's drug in FDA trials according to some specialists in the field.
Memryte, which targets the primary pathological events of Alzheimer's
disease, has also shown to stabilize Alzheimer's in patients who have a
moderate to advanced phase of the disease.
Curaxis plans to enter Phase IIb trials to verify these findings and
provide additional support that Memryte works to stabilize Alzheimer's in
combination with certain drugs known as acetylcholinesterase inhibitors
('AChEIs') of which Aricept is the most widely prescribed and going off
patent this year. Curaxis has on file a patent pending for use of Memryte
with AChEIs .
'Our clinical work has shown a synergistic effect with Aricept and we
believe the combination provides a better outcome when Memryte stops the
aberrant cell cycling, allowing Aricept to work more effectively for a
longer duration,' added Mr. Smith. 'We anticipate securing patents to
provide a combination treatment at a very competitive price. Our findings
are encouraging due to the safety of both drugs for many patient years.'
About Curaxis
Curaxis is an emerging specialty pharmaceutical company with a hormone drug
product candidate for the treatment of Alzheimer's disease and multiple
cancers. Curaxis' therapeutic platform is based on the hypothesis that
many diseases of aging may be caused by age-related changes in the function
of the hypothalamic-pituitary-gonadal (HPG)axis. The HPG axis is a
hormonal endocrine feedback loop that controls development, reproduction
and aging in animals. This drug development platform is built on the
premise that hormones associated with this feedback loop are beneficial
early in life, when they promote growth and development, but are harmful
later in life when the mechanism for feedback is compromised, thereby
leading to disease processes, including pathologies associated with
Alzheimer's disease and various cancers.
Notice Regarding Forward Looking Statements
This press release includes certain 'Forward-Looking Statements' within the
meaning of section 21E of the Securities Exchange Act of 1934, as amended.
All statements regarding potential results and future plans and objectives
of Curaxis Pharmaceutical Corporation are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from
our expectations include, but are not limited to, those factors that are
disclosed under the heading 'Risk Factors' and elsewhere in our documents
filed from time to time with the Securities and Exchange Commission. Other
risk factors may include, but are not limited to, fluctuation in quarterly
results, and increased competition in our operations, our ability to
continue operations as scheduled, and our ability to protect the
proprietary technology we use. Further, the company operates in an industry
sector where securities values are highly volatile and may be influenced by
economic and other factors beyond the company's control, such as
announcements by competitors and service providers.
The contents of this press release are presented as a general overview of
the company. It is intended only to contain general information regarding
the company and its business and does not purport to provide complete
disclosure or analysis of all matters, which may be relevant to a decision
to make an investment, including all risk factors or similar
considerations. Although the information is believed current as of the date
herein, the information may be subject to change, amendment or
supplementation, and the company does not expect, and assumes no
obligation, to update or otherwise revise the information herein.
# # #
End of Corporate News
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