KIRKLAND, Washington, October 4, 2010 /PRNewswire/ -- Tasly Pharmaceutical Co., Ltd. (Tianjin, China) and ProteoTech, Inc. (Kirkland, WA, USA) today announced an agreement to co-develop ProteoTech's novel small molecule therapeutic, Exebryl-1(R), for the treatment of mild-to-moderate Alzheimer's disease. Exebryl-1(R) has been shown to inhibit beta-amyloid protein aggregate formation in brain, as well as disaggregate amyloid plaques that are already present. The drug has also shown specificity against tau protein aggregates and may be the first therapeutic targeting beta-amyloid and tau protein associated with this disease.
The collaboration will focus on moving the clinical development of this drug though the regulatory process in China and the US. Terms of the deal were not disclosed but will include an upfront payment, development costs and research funding to ProteoTech according to Manuel Menendez, Managing Partner of Nobel Pacific, who acted as an advisor to both companies. Tasly will gain rights for Exebryl-1(R) for China and ProteoTech will retain rights for the United States and the rest of the world.
We are very happy with this opportunity to work with the team at ProteoTech and we feel that Exebryl-1(R) will become a very important medication in China against the growing epidemic of Alzheimer's disease stated Dr. Henry Sun, Vice President of Tasly Group and President of Tasly Pharmaceuticals, Inc.
ProteoTech CEO, Steve Runnels said The opportunity for this collaboration with a major international pharmaceutical company is very exciting for us. We are very fortunate to have Tasly as a partner and their experience in drug development, especially in China, provides an opportunity to accelerate Exebryl-1(R) through clinical development. We look forward to a successful Exebryl-1(R) collaboration with Tasly and the potential development of other promising technologies in our pipeline as well.
About ProteoTech: ProteoTech is a private drug development company in Kirkland, WA and is focused on targeting amyloid diseases. Besides Exebryl-1(R) for Alzheimer's disease treatment, the Company is also in late stage pre-clinical development of Synuclere(TM) (http://www.proteotech.com/pipeline/synuclere.html) for the treatment of Parkinson's disease, Systebryl(TM) (http://www.proteotech.com/pipeline/systebryl.html) for the treatment of Systemic Amyloidosis, and is in late stage pre-clinical development for a novel small peptide called PeptiClere(TM) (http://www.proteotech.com/pipeline/pepticlere.html) for the treatment of Alzheimer's disease. For more information please see the Company web site at http://www.proteotech.com.
About Tasly: Tasly was founded in May 1994 in Tianjin, China. With the pharmaceutical industry as its center, Tasly has become a leading group of high technology companies, whose scope of business includes modern TCM, ethical pharmaceutical and biological medications, healthcare products and functional foods covering the fields of research and development, manufacturing and distribution. Trading on the Shanghai Stock Exchange (#600535), Tasly has consistently kept true to the core values of adding to shareholder value as well as social responsibility and philanthropy. For more information please see the company web site at http://www.tasly.com.
SOURCE: ProteoTech Inc.
CONTACT: Steve Runnels, +1-425-823-0400, Ext. 16, email@example.com