ABS Awarded NIH Grant To Alzheimer's Research

The National Institutes of Health (NIH) has awarded a $100,000 Small Business Innovation Research (SBIR) grant to American Biogenetic Sciences, Inc. to advance the company's research into ABS-205, its early stage Alzheimer's neuroscience compound. In preliminary studies, ABS-205 has demonstrated activity in stimulating nerve growth in brain cell lines and in preventing learning deficits. The funding was granted under the auspices of the National Institute on Aging (NIA), one of the NIH institutes.

"The NIH grant will allow us to learn more about the effect that acute and chronic administration of the compound has on learning and memory function," said Dr. Alan O'Connell, manager, Neurobiology Product Development for ABS and the principal investigator on the SBIR grant program. "The NIH funding also provides independent validation of ABS' strategy for the development of ABS-205."

ABS-205, a small organic compound, has effects similar to those of nerve growth factor (NGF), such as promoting the growth of new nerve connections involved in memory formation. It also has the ability to cross the blood brain barrier and accumulate where it is needed, in brain regions associated with learning and memory. This transfer of peptides across the blood-brain barrier has been one of the major stumbling blocks in growing new nerve connections, said Dr. O'Connell.

The Phase I SBIR grant will fund an initial six-month period of research. If ABS meets the research targets set out in its grant application and continues to demonstrate the commercial potential of ABS-205, the company will be eligible to apply for a subsequent Phase II SBIR grant of approximately 0.75 million dollars, to continue the development of the compound.

For more information: American Biogenetics Sciences, Inc., 1375 Akron Street, Copiague, NY 11726, USA. Telephone: 516-789-2600. Fax: 516-789-1661.