GAITHERSBURG, Md., April 6 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
announced today that it has been awarded a Phase I Small Business Innovation
Research (SBIR) grant from the National Institute of Aging (NIA) of the
National Institutes of Health (NIH).
The grant, entitled, "A Novel Neuroprotective Approach for Ischemia," will
provide funding towards the evaluation of the toxicity, efficacy, and
mechanism of action of PAN-811 and its derivatives as neuroprotectants for
global and focal ischemia. The Company developed and utilized several cell-
based screening assays modeling ischemic neuronal cell death to identify PAN-
811, a bioavailable small molecule that displays potent neuroprotection in our
assays. The scope of work under the grant also includes examination of these
compounds in an animal model of transient focal brain ischemia to evaluate in
vivo efficacy and toxicity.
"We are pleased to receive a fourth SBIR award from the NIH, as it points
to the significance of the technologies we are developing," stated Bijan
Almassian, PhD, Chief Operating Officer of the Company. "Our recent results
demonstrate that PAN-811 can efficiently block hypoxia- and ischemia-induced
neurodegeneration. The funded SBIR proposes further studies in lead
optimization, determination of the mechanism of drug action, and preclinical
animal-based efficacy studies of PAN-811 as a neuroprotectant for ischemic-
related disease."
Ischemia-related diseases encompass a large group of maladies and
associated syndromes resulting from neuronal cell death subsequent to
ischemia. The clinical significance of cerebral ischemia is compounded by the
lack of effective neuroprotective treatments that directly inhibit ischemic
neuronal death. Therefore, discovery and development of neuroprotectants is a
priority in the prevention and treatment of ischemic-related disease.
The neurodegenerative signaling cascade initiated by ischemia is complex,
involving glutamate release and glutamate receptor activation, intracellular
calcium ion accumulation, free radical production, and consequent necrosis and
apoptosis. Neurodegeneration is a multi-step process, and while ischemia is
the initiating event, the process may continue for several hours to several
days even after reperfusion. As such, drugs capable of interfering in a
single or multi-step manner within the ischemia cascade have the
neuroprotective properties to be used prior to, during, and well after the
initiating event.
Market Opportunity
Ischemia is often associated with neuronal injury and subsequent
neurodegeneration. Focal ischemia as occurs in ischemic stroke causes both
brain as well as spinal cord damage. In the US, the incidence of stroke is on
the order of 800,000 cases per year and more than 4 million peoples are
currently living with the consequences of stroke. Stroke is the third leading
cause of death in the US, and a major cause of long-term disability.
Global ischemia occurs in many abnormal conditions, including
intracerebral hemorrhage due to hypertension and subarachnoid hemorrhage, as
well it associates with cardiac arrest, hypotension, closed head injury,
drowning, strangulation, and open-heart surgery. Hypoxia induced cognitive
decline has been identified at discharge in 53% of patients following coronary
artery bypass graft (CABG) operations. Although there is some further
recovery, long-term measurements suggest that this decline is not transient
(42% of patients at five years). Approximately 500,000 CABG procedures are
performed in the US each year and a similar number are performed in Europe.
Recent studies in the etiology of Alzheimer's disease (AD) have indicated
that hypoxia caused by hypoperfusion of the brain may contribute to the
initiation and progress of the disease. AD is marked by significant
neurodegeneration associated with high levels of reactive oxygen species
production and cellular oxidative damage. Approximately 4 million people in
the US are affected with AD, and that number is expected to grow as the US
population ages.
About Panacea Pharmaceuticals, Inc.
Panacea Pharmaceuticals, Inc. is an emerging biopharmaceutical company
focused on utilizing functional genomics and proteomics to develop
therapeutics and diagnostics for diseases with substantial unmet clinical
need. The Company's product development focus is on novel proteins and
biochemical pathways related to cellular regulation and cell cycle
abnormalities in oncology as well as both acute and chronic neurodegenerative
conditions such as hypoxia-induced cognitive impairment, Parkinson's disease,
and Alzheimer's disease.
More information is available at http://www.PanaceaPharma.com.
Except for historical information presented in this press release, matters
discussed herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements are based on the opinions and estimates of management only
as of the date of this release and are subject to certain risks and
uncertainties that could cause actual results to differ materially from any
future results, performance, or achievements expressed or implied by such
statements. Factors that might cause such a difference include, but are not
limited to, uncertainties related to our access to capital, the progress,
costs, and results of any clinical trials undertaken by us, progress of our
research and development projects, and uncertainties related to whether our
product candidates would ultimately achieve commercial success. We do not
undertake any obligation to update publicly any forward-looking statement,
whether as a result of new information, future events, or otherwise unless
required by law.
CONTACT: Kasra Ghanbari, President of Panacea Pharmaceuticals, Inc.,
+1-240-243-8000, ext. 108, Fax: +1-240-465-0450, or Kasra@PanaceaPharma.com
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.panaceapharma.com
CONTACT:
Kasra Ghanbari, President of Panacea
Pharmaceuticals, Inc., +1-240-243-8000, ext. 108, Fax:
+1-240-465-0450, or Kasra@PanaceaPharma.com
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