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AMERICAN BIOGENETIC
SCIENCES, INC. EXPANDS ITS THERAPEUTIC PRODUCT PIPELINE
Copiague,
New York, July 13, 2000 - American Biogenetic Sciences,
Inc. (ABS) (Nasdaq: MABA - news) announced today the
signing of a five year extension to its research program
at University College, Dublin, Ireland. The program
will focus on the acceleration of ABS's compound for
the treatment of Alzheimer's disease and expand the
product pipeline of compounds to treat neurological
disorders.
Following the fast-tracking of ABS-205 in slowing
the production of amyloid deposits in transgenic animals
engineered to over express this small protein and,
thus, resemble an Alzheimer-type state, ABS now intends
to further evaluate this compound as a potential drug
in the treatment of schizophrenia. This approach is
based on initial observations that the compound may
enhance working memory that is known to be defective
in schizophrenia, a condition that affects one percent
of the world's population. Valproate, an anti-convulsive
agent which is structurally related to ABS-205, is
known to be effective in treating some schizoaffective
states.
The
extended program will also serve to develop a strong
product pipeline by further evaluating the cognition-enhancing
potential of the ABS-300 series, compounds modeled
on the structure of tacrine but with a different mode
of action.
The
strategic development program will be led by Professor
Ciaran M. Regan, Ph.D., D.Sc., Professor of Pharmacology,
University College, Dublin. Professor Regan is the
recent recipient of the Royal Irish Academy Award
in Pharmacology & Toxicology 2000.
Commenting on the extension of the collaboration with
University College Dublin, Ms. Ellena Byrne, Executive
Vice President of ABS, and Director of the ABS Global
Scientific Network said, "It is indeed gratifying
to see a prominent member of the ABS Global Scientific
Network make such an important contribution to the
company's pipeline of neurological therapeutic compounds
including a potential treatment for schizophrenia
which affects one percent of the world's population.
In addition, Professor Regan and his team are rapidly
proceeding with the accelerated development of ABS-205
for the treatment of Alzheimer's disease. My colleagues
at ABS are in discussions with pharmaceutical companies
who are interested in partnering with us to bring
this promising compound to the marketplace and hopefully
duplicate the success of ABS-103R for the treatment
of epilepsy, manic depression and the prevention of
migraine headache, which was recently licensed to
Abbott Laboratories.
American
Biogenetic Sciences, Inc., based in Copiague, N.Y.,
researches and develops diagnostic tests for cardio-pulmonary
conditions and infectious diseases, as well as new
treatments for neurological disorders including epilepsy,
migraine, mania, Parkinson's disease and Alzheimer's
disease. ABS also seeks out new technologies and conducts
research and development through its Global Scientific
Network in the United States, Europe, Israel, Russia
and China.
Statements in this release that are not strictly historical
are "forward looking" statements within the meaning
of the Private Securities Litigation Reform Act of
1995, and should be considered as subject to various
risks and uncertainties that could cause actual results
to differ materially from those anticipated. For further
details and a discussion of these risks and uncertainties,
see the Company's Securities and Exchange Commission
filings including its annual report on Form 10-K.
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