LAS VEGAS, June 7, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals Inc. (AMEX:LIV), a developer of innovative drugs, is pleased to announce the National Institutes of Health (NIH) has awarded a grant in the amount of $250,000 for the continued development of its research compounds with known Viral Replication Suppression and Neuronal Protective Properties.
The National Institute of Mental Health, Small Business Technology Transfer (STTR) Grant application was submitted by Samaritan Pharmaceuticals, in collaboration with The University of California, San Diego and Dr. Ian Everall as the Principal Investigator.
Samaritan's collaborating scientists discovered a series of antiviral drugs that not only offered therapeutic benefit to HIV-infected patients with escalating viral loads, but also potentially provided neuroprotective benefit. This discovery potentially presented an opportunity for Dr. Everall of the University of San Diego (UCSD), HIV Neurological Research Center (HNRC), to further his work in seeking and demonstrating the efficacy and safety of such therapeutics in order to address a global pandemic.
Neurocognitive complications have been estimated to occur in 30% to 50% of all HIV-infected individuals. Though it is often subtle, this impairment can affect day-to-day life and is associated with earlier mortality. Some reversibility of neurocognitive disturbance has been reported with some HAART regimens. However, the data are not consistent. Additionally, the pathogenesis of HIV-neurocognitive impairment is not well-characterized further delaying the advent of an effective treatment. Moreover, many HAART regimens do not penetrate the blood-brain barrier.
Dr. Janet Greeson, CEO of Samaritan Pharmaceuticals stated, "We are extremely appreciative of this recognition by NIH and the added credibility it brings to our infectious disease drug candidates."
Samaritan Pharmaceuticals:
"Transforming Today's Science Into Tomorrow's Cures..."
Samaritan Pharmaceuticals is an entrepreneurial biopharmaceutical company that concentrates its efforts toward commercializing new innovative therapeutic products. Samaritan has partnered its Phase II infectious disease drug SP-01A, an oral HIV viral-entry inhibitor, to Pharmaplaz, Ireland. Additionally, its Alzheimer's drug Caprospinol, with the potential to restore memory loss in Alzheimer's disease patients, has been issued an IND by the FDA. Samaritan has several drugs in nonclinical studies preparing for IND development; it is evaluating the use of SP-1000 for Hypersholestolemia patients and the use of SP-10T1 as an "oral treatment" for Hepatitis-C. In addition, Samaritan has acquired the marketing and sales rights to sell ten revenue-generating products in various Eastern European countries.
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The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings, and Website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science, and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K filed April 13, 2007. The company undertakes no duty to update forward-looking statements.