October 9, 2008
Alte Biosciences to Present Depression and Gastrointestinal Disorder Treatments at 2008 SEBIO
Alte Biosciences is pleased to announce that it has been selected as an early-stage presenter at the Tenth Annual Southeast BIO Investor Forum (SEBIO 2008) to be held December 4-5, 2008 in Palm Beach, Florida. SEBIO is the premier venture capital forum in the southeastern United States and has proven to be a valuable opportunity for companies to gain exposure in the investment community.
“We are grateful that our research efforts have been recognized and that we will be able to present our company to a broader audience. We have been developing treatments for late onset depression and gastrointestinal disorders using the scientific resources of PharmaDirections. Now we can take advantage of this forum to seek additional development partners who are as interested in overcoming these debilitating diseases as we are,” stated Dr. Richard Soltero, CEO of Alte Biosciences.
Alte Biosciences will use the SEBIO meeting to officially begin their fund raising program for two development stage programs involving novel treatments for late onset depression and for inflammatory bowel disease (IBD). Initial funding will be applied to bring ARX-111 through an IND and a Phase 2 proof of concept study for the treatment of late onset depression, to be followed by the development of ARX-211, a proprietary drug combination product for the same disorder. Funding will also be used to bring ABS-15 to an IND filing and first in man safety trials for the treatment of IBD.ARX-111 was licensed from Duke University Medical Center. ABS-15 was invented by PharmaDirections, under contract to Alte Biosciences, as part of a group of innovative molecules that will treat inflammatory bowel disease. ABS-15 consists of two mutual pro-drugs that release well recognized and well tolerated drugs from specialized formulations that will deliver these molecules in ways that will improve their anti-inflammatory, anti-microbial and cytoprotective properties.
About Alte Biosciences: Alte Biosciences is a virtual pharmaceutical company based in Cary NC. Alte’s primary focus is the development of new, more cost-effective treatments for patients with debilitating chronic diseases. Since its inception in 2003, the Company has built a proprietary portfolio of development stage opportunities for late onset depression and inflammatory bowel disease, using the strategies of inventing new chemical entities and of ‘drug repurposing’, i.e. identifying new indications and new formulations for existing drugs with drug repurposing in mind.
About PharmaDirections: PharmaDirections is a pharmaceutical consulting and projectt management company located in North Carolina’s Research Triangle Park region. PharmaDirections is focused on helping its client identify and implement the most cost-effective strategies for research in preclinical, CMC and regulatory affairs areas. For more information, visit www.PharmaDirections.com