The drug is called Rember and the company that is doing the research is called TauRx Therapeutics which is based in Singapore. It doesn't seem to be publicly traded but I bet they will be getting some serious venture capital out of this news.
I could also see someone like Wyeth or Elan picking up this company on the cheap after bapineuzumab failed on them. With a large company like Wyeth or Elan backing them TauRx would get big piles of money to work with. Here is more on what the drug does. If this drug does actually help with Alzheimer's (or just stops its progression) then I nominate Dr. Wischik and his team for the Nobel Prize for Medicine.
Previous research has shown that the buildup of brain lesions known as neurofibrillary tangles, which are composed of a short fragment of a protein called tau, is correlated with increasing levels of dementia symptoms. And, these tangles first appear in the brain long before symptoms of the disease become clinically apparent. Methylthioninium chloride (MTC, or brand name rember(TM)) has been shown in the test tube to dissolve tau tangle filaments and prevent aggregation of tau into tangles. MTC has also been shown to block the toxic effects of aggregated tau in cells. In animal models, MTC has demonstrated cognitive and behavioral benefits in line with reduced tau pathology.
In research reported at ICAD 2008, Claude M. Wischik, Professor in Mental Health, University of Aberdeen, United Kingdom and Chairman, TauRx Therapeutics, Singapore, and colleagues conducted a 24-week, double-blind, randomized, dose-ranging, parallel design trial of MTC monotherapy in 321 people with Alzheimer's at 17 centers in the United Kingdom and Singapore, followed by a 60-week, blinded, active treatment extension. The control group received placebo for the initial 24 weeks and then a minimal efficacy dose subsequently. The primary objective was to investigate the effects of oral MTC at 30, 60 and 100 mg doses three times per day, compared with placebo, over 24 weeks on cognitive function as measured by the ADAS-cog in patients with mild or moderate Alzheimer's, stratified by stage of the disease. Another objective was to determine MTC's potential to modify the course of Alzheimer's over 19 months. Imaging results from SPECT and PET scans were collected at baseline and after 24 weeks of treatment.
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