Press Releases

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.

 

 


American Biogenetic Sciences, Inc. 2000