Axonyx Announces Milestone Payment From Serono

seronoUnder the terms of a license agreement for beta-sheet breaker technology, has announced the receipt of a milestone payment of $1 million from S.A. The milestone payment was triggered when Serono initiated a Phase I clinical trial with a beta-sheet breaker peptide for the potential treatment of Alzheimer’s disease.

The study will involve healthy volunteers.

In mouse studies, the peptide significantly reduced both amyloid plaques (by approximately 50%) and nerve cell death.

“Serono’s achievement in starting this clinical trial is a significant milestone in the development of the Axonyx beta- sheet breaker technology,” stated Marvin S. Hausman, M.D., President and Chief Executive Officer of Axonyx Inc. “This approach has the potential of being a breakthrough treatment for a devastating disease such as Alzheimer’s that has seen few new developments recently.” Axonyx is developing compounds and technologies for the diagnosis and treatment of Alzheimer‘s disease, human memory disorders and prion-based illnesses such as Mad Cow Disease.

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