Includes Lead Investigational Compound, LM11A-31 p75 Neurotrophin Receptor Ligand

Raleigh -- PharmatrophiX today announced an exclusive, global collaboration to research, develop and commercialize the neurologic indications of PharmatrophiX’s portfolio of compounds targeting the p75 neurotrophin receptor (p75^NTR) with Elan Corporation, plc (NYSE: ELN).

The portfolio of small molecule compounds, termed p75 ligands, mimic the activity of the neurotrophins, interacting and potentially protecting neurons that are susceptible to loss in Alzheimer’s disease (AD).  Targeting p75^NTR could protect neurons from AD by a number of different mechanisms:  blocking the interaction between beta amyloid peptide ( and p75^NTR; downregulating the signaling pathways that mediate A toxicity; and upregulating survival signaling which is normally inhibited by .  The lead compound, LM11A-31 has been selected based on initial preclinical studies.

PharmatrophiX was founded in 2005 by Frank Longo, M.D., Ph.D., during his tenure as Chairman of Neurology at UNC-Chapel Hill with the goal of developing small molecule technology created at UNC-Chapel Hill and UC San Francisco. “PharmatrophiX is very excited to have Elan as its collaborator to develop and commercialize the neurologic indications for its compounds. Elan shares our vision and commitment to developing therapeutics that will change the course of AD and we are confident this collaboration will allow PharmatrophiX to fully achieve the potential of the p75 ligand portfolio and potentially make a difference in the lives of millions of AD patients and their loved ones,” said Dr. Longo.

“We are extremely pleased to formalize our relationship with Dr. Frank Longo and the team at PharmatrophiX, with whom we have collaborated for over two years.  The p75 ligand compounds diversify the Elan portfolio by adding an orally-available therapeutic platform that attacks AD from a different, and potentially complementary, approach to current beta amyloid therapeutics which are the focus of the Elan pipeline,” said Dr. Dale Schenk, Executive Vice President and Chief Scientific Officer at Elan.  “This collaboration with PharmatrophiX continues to reinforce our strategy to explore and pursue all approaches to bring forward disease-modifying therapeutics for AD.”

About PharmatrophiX

PharmatrophiX is a biotechnology company focused on the development of small molecule ligands for growth factor receptors relevant to neurological and other disorders. The company has an exclusive license covering small molecule technology developed at UNC-Chapel Hill and UC San Francisco and is developing additional small molecule strategies. The Alzheimer's Drug Discovery Foundation (ADDF), a venture philanthropy public charity established in 2004 to accelerate drug discovery for Alzheimer's disease, is a founding investor in PharmatrophiX. 

Contact: Anne C. Longo -- (650) 387-0161

                                  President & CEO, PharmatrophiX, Inc.

John R. Therien -- (919) 821-1220

  Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan LLP