CORAL SPRINGS, Florida, April 20, 2015 /PRNewswire/ --
In the search for neuroscience drug discovery treatments, Alzheimer's disease and specifically autism drug candidates, a few viable therapeutic approaches have come from research on neurological conditions such as fragile X syndrome. Biotech Companies in focus today are Neurotrope, Inc. (OTC: NTRP), CytRx Corporation (NASDAQ: CYTR), Trovagene, Inc., (NASDAQ: TROV), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Abbot Laboratories (NYSE: ABT) & Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX).
Neurotrope, Inc. (OTCQB: NTRP) today announced that Neurotrope BioScience, Inc., its wholly-owned operating subsidiary, has received a grant from the FRAXA Research Foundation, Inc. ("FRAXA") to fund a pre-clinical Fragile X Syndrome ("FXS") behavior study for its lead proprietary drug candidate, bryostatin, at FRAXA's purpose built laboratory located at the University of Chile in Santiago, Chile. FRAXA was founded in 1994 by three parents of children with FXS to support scientific research aimed at finding a treatment and a cure for this disease. FXS is the most common cause of inherited intellectual disability and the most common known genetic cause of autism or autism spectrum disorders. FRAXA funds grants and fellowships at universities all over the world and has funded more than $24 million in scientific research.
Read the full NTRP Press Release at http://www.financialnewsmedia.com/profiles/ntrp.html
Under the terms of the grant, FRAXA will provide full funding for a preclinical study to evaluate the behavioral effects of bryostatin-1 in a FXS mouse model. Bryostatin is a potent activator of Protein Kinase C (PKC), which Neurotrope believes is a viable therapeutic approach for the treatment of FXS. Preclinical research at the Blanchette Rockefeller Neurosciences Institute (BRNI), which formed the basis for Neurotrope receiving Orphan Drug Designation for bryostatin, has suggested that treatment with bryostatin can mature synapses and increase the number of synaptic connections resulting in improved learning and memory. Neurotrope is developing bryostatin under a licensing agreement with BRNI. The Company was recently granted orphan drug designation by the U.S. Food and Drug Administration (FDA) for bryostatin in the treatment of FXS...
About Fragile X Syndrome - FXS is the most common cause of inherited intellectual disability and the most common known genetic cause of autism or autism spectrum disorders. There is currently no FDA approved treatment for FXS available on the market today. Symptoms of FXS include moderate to severe learning disabilities, behavioral disorders, seizures and cognitive impairment. FXS is caused by a partial or a full mutation of the FMR1 gene.
In other Biotech News & Happenings in the sector: Shares of CytRx Corporation (NASDAQ: CYTR) rose 12% to $5.04 in late afternoon trading Friday after Oppenheimer initiated coverage on the biopharmaceutical research and development oncology company with an "outperform" rating and a $10 price target. The company published encouraging Phase II interim results in January for its cancer-fighting drug aldoxorubicin. CytRx has submitted related data for a potential presentation in May at an industry conference in Chicago. Full story at http://www.thestreet.com/story/13117015/1/cytrx-cytr-stock-rises-today-following-oppenheimer-coverage-initiation.html?puc=yahoo&cm_ven=YAHOO
Trovagene, Inc., (NASDAQ: TROV) a developer of cell-free molecular diagnostics, announced Friday that clinical data presented at the 2015 European Lung Cancer Conference (ELCC) demonstrate that its urine-based Precision Cancer Monitoring℠ (PCM) platform outperformed tissue biopsy for the detection and monitoring of EGFR T790M mutations in metastatic lung cancer patients. The abstract, titled Detection of EGFR T790M Mutation in Urinary Circulating Tumor DNA from Metastatic Non-Small Cell Lung Cancer Patients, was presented today by Hatim Husain, M.D., University of California, San Diego Moores Cancer Center during the ESMO-IASLC Best Abstracts session in Geneva, Switzerland.
Eisai Inc. and Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) recently announced the completion of two Phase 1 registrational clinical trials that Eisai and Arena believe demonstrate bioequivalence of an investigational once-daily extended release formulation of lorcaserin, as compared to the twice-daily immediate release formulation approved by the US Food and Drug Administration (FDA) and marketed as BELVIQ®. If approved, the extended release formulation is expected to be marketed as BELVIQ XR, which is the brand name conditionally approved by the FDA.
Abbott Laboratories (NYSE: ABT) announced recently the company had received U.S. FDA clearance for freestyle precision NEO Blood Glucose Monitoring System which would be available over the counter at major U.S. retailers. http://finance.yahoo.com/news/blood-glucose-meter-provides-people-130000945.html
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX), a biopharmaceutical company focused on developing breakthrough treatments for human disease, announced that the company and Bristol-Myers Squibb (NYSE: BMY) have selected a development candidate for neuropathic pain as part of their neuroscience drug discovery and development alliance. Lexicon and Bristol-Myers Squibb are proceeding with plans to progress the development candidate through IND-enabling studies in preparation for the commencement of clinical trials. Bristol-Myers Squibb has the first option under the alliance to obtain exclusive clinical development and commercialization rights upon the initiation of Phase 1 clinical studies, subject to the payment of milestones and royalties to Lexicon.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by Neurotrope, Inc., Inc. by a non-affiliated third party. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group, LLC