Intellect Neurosciences in Dispute With Licensee Over Significant Milestone Payment
Intellect Neurosciences, Inc. recently announced an update to previously disclosed patent news. On May 8, 2012, the USPTO granted to Intellect a patent covering the company’s ANTISENILIN monoclonal antibody platform technology for the treatment and prevention of Alzheimer’s disease. This patent is at the heart of one of the company’s license agreements with a global pharmaceutical company, and Intellect believes that under the terms of the license agreement, its issuance triggers a milestone payment.
This licensee has recently informed Intellect that it does not believe the milestone payment requested is due under the license agreement. Intellect has responded that there is no legitimate basis for refusing to make the milestone payment, and the company intends to vigorously pursue its rights under the license agreement.
“We are extremely disappointed by our licensee’s response for which we are seeking further clarification,” said Dr. Daniel G. Chain, Chairman and CEO of Intellect Neurosciences. “Unless this matter can be resolved promptly, Intellect will have no choice but to pursue this matter through legal channels.”
The patent discloses therapeutic antibodies to treat Alzheimer’s disease. The antibodies specifically bind to the ends of the beta amyloid protein without binding to the amyloid precursor protein (APP), which has important safety advantages compared to antibodies that do not have this feature. The granted patent claims are directed to treatment methods that use antibodies that recognize the free C-terminus of beta amyloid 1-40. Intellect has additional patent applications pending in the
The best-known example of a therapeutic antibody that binds to the free C-terminus of beta amyloid 1-40 is ponezumab (aka PF-04360365). A Phase I study to determine effect of PF-04360365 on clearance of beta amyloid from cerebrospinal fluid in patients with Alzheimer’s disease and healthy volunteers is being conducted according to www.ClinicalTrials.gov (identifier NCT01005862) last updated July 3, 2012. This trial, which is scheduled to complete in August 2012, follows other completed Phase I and II trials.
Intellect Neurosciences, Inc., develops innovative approaches aimed at arresting or preventing Alzheimer’s disease and other neurodegenerative diseases especially focused on proteinopathies. Intellect’s pipeline includes therapeutic vaccines, antibodies, and neuroprotective antibody drug conjugates. For more information, visit www.intellectns.com.
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