ILNS: Option Agreement w/Global Pharmaceutical Co. re Alzheimer's Patents

Wed. October 08, 2008; Posted: 08:22 AM

Ridgeland, MS, OCT 08, 2008 (EventX/Knobias.com via COMTEX) -- WYE | Quote | Chart | News | PowerRating -- By Fain Hughes, fhughes@knobias.com

Intellect Neurosciences, Inc. (ILNS) has entered into an Option Agreement with a top-tier global pharmaceutical company regarding the right to purchase a license to certain of Intellect's patents and patent applications related to antibodies and methods of treatment for Alzheimer's disease.

Intellect is entitled to an option fee upon execution of the Option Agreement. In addition, Intellect will be entitled to fees, and may be entitled to milestone payments and royalties from potential future drug sales, upon exercise of the Option by the licensee. Recently, Intellect received its first milestone payment under its license agreement with Wyeth and Elan related to this patent family and may be entitled to additional payments from Wyeth and Elan in the future.

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ABOUT KNOBIAS: Knobias is a premier financial information provider of trading and investing data covering all U.S. equities for investors and security professionals. Knobias is best described by its three major components: Real-time desktop applications providing quotes, charts, level 2, analysis etc.; Knobias RAiDAR providing thousands of real-time news stories, alerts and documents daily; Knobias fundamentals providing a comprehensive database of fundamental research information.

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For full details on Elan Corp Plc (ELN) click here. Elan Corp Plc (ELN) has Short Term PowerRatings of 2. Details on Elan Corp Plc (ELN) Short Term PowerRatings is available at This Link.

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