(Charlottetown, PE, March 31, 2015) Neurodyn Life Sciences Inc. (‘Neurodyn’ or the ‘Company’), today announced it has completed a $1 million funding round from existing shareholders and a range of investors in both Canada and the US including certain US family-managed venture funds. The Company will use the funds to support development and commercial initiatives across its product line of bioactive pharmaceuticals and natural health products including the Company’s revolutionary new Alzheimer’s drug, Memogain®; and a new cognitive enhancing emulsion, Cerbella™.
“Investors are excited about the near-term potential of our product pipeline. Like us, they recognize the devastating socio-economic impact of an aging population that is becoming increasingly more susceptible to neurological disease,” says Ken Cawkell, CEO of Neurodyn.
Memogain® is Neurodyn’s patent-protected improvement of the natural cognitive enhancer galantamine, which is currently used for the treatment of mild to moderate Alzheimer’s disease. Our Phase 1A clinical trial results demonstrated that Memogain’s design promotes higher preference for the brain, and thus fewer adverse side effects while at the same time providing higher cognitive enhancement, compared to presently marketed Alzheimer’s drugs.
“Recent regulatory meetings in the EU suggest that Memogain® could be the next Alzheimer’s drug approved in Europe,” says Cawkell. “EU regulators have commented that Memogain® could qualify for their Innovative Medicines Initiative, designed to expedite new drugs to market.”
Cerbella™ is Neurodyn’s highly bioavailable formulation of ginsensosides and green tea catechins, which are complexed and delivered in a flavored Omega-3 emulsion. Both its proprietary formulation and state-of-the-art packaging will revolutionize the way consumers think about brain health. The Company anticipates Cerbella™ will launch in the US and Canadian markets later this year.
About Neurodyn: Neurodyn (www.neurodyn.ca) is a Canadian biotechnology company focused on identifying, validating and developing natural compounds into both prescription drugs and natural products for the early treatment of neurological diseases. Through its offices in Charlottetown, Halifax, and Germany, Neurodyn manages prescription drug and natural health product commercialization as well as subsidiaries in fine chemicals & medicinal chemistry and animal modeling of neurological disease.
Mr. Kenneth Cawkell, Chief Executive Officer
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Dr. Denis Kay, Chief Scientific Officer
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Mr. Robert Cervelli, Executive Director
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Dr. Alfred Maelicke, Managing Director Europe
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Neurodyn’s expectations and projections.