DURHAM, N.C., Feb. 7, 2011 (GLOBE NEWSWIRE) -- Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp. (OTCBB:CURX), commented today on a new report by the Alzheimer's Association, titled "Generation Alzheimer's – the defining disease of the baby boomers", which demonstrates the devastating impact and size of Alzheimer's disease. Five million Americans have already been diagnosed with Alzheimer's, and that number may increase as the Baby Boomer generation turns 65 this year, according to the report.
Mr. Smith stated, "With 10 million baby boomers expected to either die with or from Alzheimer's, it is certainly time for Curaxis to take its place in providing a solution for this debilitating disease. We are looking to complete our evaluation of potential candidates and engage a Contract Research Organization for Curaxis' upcoming Phase IIB clinical trial in the near term. From a cost competitive standpoint, as well as the high demand for Alzheimer's clinical work, our market timing for the selection of a CRO could not be better."
The phase IIB clinical trial for Curaxis' lead Alzheimer's disease treatment, Memryte, is anticipated to launch in mid 2011. Memryte addresses the pathologies of Alzheimer's through multiple pathways, including beta-amyloid, tau phosphorylation, inflammation and aberrant cell cycling.
For more information about the Alzheimer's Association report, please visit www.alz.org/boomer.
About Curaxis
Curaxis is an emerging specialty pharmaceutical company with a hormone drug product candidate for the treatment of Alzheimer's disease and multiple cancers. Curaxis' therapeutic platform is based on the hypothesis that many diseases of aging may be caused by age-related changes in the function of the hypothalamic-pituitary-gonadal (HPG) axis. The HPG axis is a hormonal endocrine feedback loop that controls development, reproduction and aging in animals. This drug development platform is built on the premise that hormones associated with this feedback loop are beneficial early in life, when they promote growth and development, but are harmful later in life when the mechanism for feedback is compromised, thereby leading to disease processes, including pathologies associated with Alzheimer's disease and various cancers. For more information, please visit www.curaxispharma.com.
Notice Regarding Forward Looking Statements
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding potential results and future plans and objectives of Curaxis Pharmaceutical Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the Securities and Exchange Commission. Other risk factors may include, but are not limited to, fluctuation in quarterly results, and increased competition in our operations, our ability to continue operations as scheduled, and our ability to protect the proprietary technology we use. Further, the company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the company's control, such as announcements by competitors and service providers.
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