NIH Awards $1.8 Million Research Grant to Pain Therapeutics in Support of a Blood-based Diagnostic for Alzheimer’s Disease...
September 18 2017 - 7:00AM
Pain Therapeutics, Inc. (Nasdaq:PTIE), a biopharmaceutical company,
announced today it has been awarded an approximately $1.8 million
research grant from the National Institutes of Health (NIH).
This grant will support innovative technology developed by the
Company to diagnose Alzheimer’s disease with a simple blood test.
“Finding a way to diagnose disease at an
early-stage is vitally important,” said Remi Barbier, President
& CEO of Pain Therapeutics. “A blood test may help detect
Alzheimer’s disease before symptoms occur, or rule out other
possible causes of memory problems, or might be used as a biomarker
to measure the efficacy of drug candidates during clinical
trials.”
The NIH's National Institute on Aging awarded
this research grant to Pain Therapeutics following a competitive,
in-depth evaluation of its technology for scientific and technical
merit.
The research grant is a technical-milestone based
award that will enable Pain Therapeutics to work collaboratively
with leaders in the field to develop a blood-based diagnostic for
Alzheimer’s. The diagnostic technology is related to PTI-125,
Pain Therapeutics’ clinical-stage drug candidate for Alzheimer’s
disease, whose underlying science has been published in Journal of
Neuroscience, Neurobiology of Aging, Journal of Biological
Chemistry, PLOS-One and other peer-reviewed scientific
journals.
About Alzheimer's
Disease and DiagnosticAlzheimer’s disease is a progressive
brain disorder that slowly destroys memory and thinking
skills. Damage to the brain starts a decade or more before
problems appear. During this early stage of disease, people seem to
be symptom-free, but toxic changes are taking place in the
brain. Eventually, brain damage becomes widespread and
affected people are unable to care for themselves. Currently,
Alzheimer’s cannot be detected until symptoms appear. Over
five million Americans live with Alzheimer’s, a number that will
increase significantly in the coming years.
Pain Therapeutics owns all worldwide development
and commercial rights to PTI-125 and related technology, including
diagnostic, without royalty or milestone obligations to any
third-parties.
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 safety or
effectiveness of PTI-125 and the Company’s plan to develop a
blood-based diagnostic for Alzheimer’s Disease, or to test its
specificity. 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 the ability to demonstrate the
specificity, safety, efficacy or potential health benefits of a
blood-based diagnostic. 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
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