Intellect Neurosciences Retains Chain Pharmaceuticals LLC
July 30 2013 - 11:30AM
Intellect Neurosciences, Inc. (OTCBB:ILNS) announced today it has
retained Chain Pharmaceuticals LLC as a consultant to assist the
company in managing its patent estate and external collaborations
and pursuing strategic alternatives for the company, which may
include partnerships, strategic business model alternatives, a sale
or other transaction.
"We are delighted Dr. Daniel Chain has agreed to return to
Intellect as a consultant and assist us with our strategic
options," said Elliot M. Maza, Consulting Chief Financial Officer
and Director of Intellect Neurosciences. "As the founder of
Intellect, Dr. Chain is uniquely qualified to assist us in our
efforts to maximize the value of Intellect's unique collection of
high value assets."
About Intellect Neurosciences
Intellect Neurosciences, Inc. develops innovative approaches
aimed at arresting or preventing Alzheimer's disease and other
neurodegenerative diseases, with a specific focus on
proteinopathies. Intellect's pipeline includes therapeutic
vaccines, antibodies and neuroprotective antibody drug conjugates.
For more information, please visit www.intellectns.com.
Safe Harbor Statement Regarding Forward-Looking
Statements:
The statements in this release and oral statements made by
representatives of Intellect Neurosciences relating to matters that
are not historical facts (including, without limitation, those
regarding future performance or financial results, the timing or
potential outcomes of research collaborations or clinical trials,
any market that might develop for any of Intellect's product
candidates and the sufficiency of Intellect's cash and other
capital resources) are forward-looking statements that involve
risks and uncertainties, including, but not limited to, the
likelihood that actual performance or results could materially
differ, that future research will prove successful, the likelihood
that any product in the research pipeline will receive regulatory
approval in the United States or abroad, or Intellect's ability to
fund such efforts with or without partners. Intellect undertakes no
obligation to update any of these statements. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as to the date hereof. Accordingly, any
forward-looking statements should be read in conjunction with the
additional risks and uncertainties detailed in Intellect's filings
with the Securities and Exchange Commission, including those
discussed in Intellect's Quarterly Report on Form 10-Q (file no.
333-128226), filed on May 20, 2013 and the risk factors discussed
under the caption "Risk Factors" in Intellect's Annual Report on
Form 10-K (file no. 333-128226), filed on October 15, 2012.
CONTACT: Jules Abraham
JQA Partners, LLC
917-885-7378
jabraham@jqapartners.com