Ivax Corp. said Wednesday that its wholly owned subsidiary,Baker Cummins Pharmaceuticals Inc., is starting Phase II trialsof Alzene in patients with Alzheimer's disease.
Alzene is believed to improve neuronal cell membrane fluidityassociated with the disease by modifying the fatty acidcomposition of the neuronal cell membrane.
According to the Miami company, preliminary data from Israelindicated that Alzene improved the cognitive functions of 70percent of Alzheimer's patients taking the drug. The drug wasdeveloped at Bar-Ilan University.
Also on Wednesday, Deprenyl Research Ltd. (NASDAQ:DEPLF) ofToronto said it has received Canadian government approval tobegin two Phase II trials of Alzene. Deprenyl sublicensedCanadian rights to the drug from Ivax in December.
Deprenyl will begin immediately a study of the drug's effect onmemory in normal adults. A second trial in Alzheimer'spatients will begin enrollment shortly, said Deprenyl PresidentJames Doherty.
Ivax shares were down 50 cents to $33.50. Deprenyl lost 63cents to $16.38. -- Karen Bernstein
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