LOS ANGELES--(BUSINESS WIRE)-January 24, 2007 09:30 AM Eastern Time
Proneuron Biotechnologies Inc. today announced the initiation of a program to develop Proneuron's PN277 neuro-restorative therapy for Parkinson's disease (PD). The goal is to examine the ability of PN277 to prevent degeneration of dopaminergic neurons and/or to reverse dopamine loss in relevant preclinical models. PN277 is an oligopeptide that has been found to have significant immune-mediated neuro-restorative activities.

PN277 has been found to induce a protective mechanism that reduces neuronal loss, facilitates restorative activities and enhances neurogenesis in several preclinical models for acute and chronic neuro-degenerative conditions. Hence, PN277 has the potential to slow or prevent neurodegenerative processes as well as to restore function in damaged neuronal systems including the dopaminergic system.

PN277 is being developed by Proneuron for the treatment of various CNS disease conditions, of which ischemic stroke is in the most advanced state.

PN277 has already completed most required studies in support of a planned Phase I study for stroke. Company representatives have met the FDA to present its pre-IND file, and the company intends to pursue a Phase I study during 2007.

The Michael J. Fox Foundation for Parkinson's Research (MJFF) has awarded funding of $430,000 for the project under its Therapeutics Development Initiative. This program aims to add Foundation resources to companies’ own, making Parkinson’s a more attractive investment for industry and helping to push PD research further out the drug development pipeline toward the clinic and patients.

Brian Fiske, PhD, associate director of research programs for MJFF, said: "The Foundation and the review committee were enthusiastic about Proneuron's approach to modulate immune responses as a possible neuroprotective therapy for Parkinson's disease. We are pleased to provide funding for this potentially high-impact research."

Dr. Eti Yoles, Proneuron's VP R&D, added: "Developing PN277 as a potential treatment for PD, in parallel to our efforts to develop it for ischemic stroke and other indications, is a key element toward achieving our mission to accelerate the development of potentially effective treatments for un-curable central nervous system diseases."

About Proneuron: Proneuron Biotechnologies Inc., headquartered in Los Angeles, CA, is a privately held biopharmaceutical company developing products for the treatment acute and chronic disorders of the central nervous system based on proprietary technology for modulating the interaction between the nervous and the immune systems. See http://www.proneuron.com

About The Michael J. Fox Foundation: Founded in 2000, The Michael J. Fox Foundation for Parkinson’s Research is dedicated to ensuring the development of a cure for Parkinson’s disease within this decade through an aggressively funded research agenda. The Foundation has funded over $90 million in research to date, either directly or through partnerships. For more information, please visit the Foundation’s Web site at http://www.michaeljfox.org/.