-Company to Host Conference Call at 9:00 a.m. EDT-
MONTVALE, N.J., Oct. 15 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals
Corp. (Nasdaq: MEMY) today announced top-line data from the multi-center,
randomized, double-blind, placebo-controlled Phase 2a study of MEM 1003, a
neuronal L-type calcium channel modulator, in Alzheimer's disease. The trial
enrolled 183 subjects with mild to moderate Alzheimer's disease at over 40
centers in the United States and included monotherapy subjects and subjects on
stable doses of cholinesterase inhibitors. The trial failed to meet its
primary endpoint, which was a twelve-week mean change in the Alzheimer's
disease Assessment Scale -- Cognitive subscale (ADAS-cog) score in the overall
population.
The negative results were largely driven by an unusually large placebo
response in the subgroup of monotherapy subjects. In the subgroup of subjects
receiving cholinesterase inhibitors, the change in ADAS-cog favored treatment
over placebo, although this difference was not statistically significant.
Similarly, in this subgroup, numeric improvements were seen in all of the four
secondary endpoints, which included the Mini-Mental State Exam, the
Alzheimer's Disease Cooperative Study -- Activities of Daily Living, the
Clinician Interview-Based Impression of Change with Caregiver Input and the
Neuropsychiatric Inventory.
"Based on this information, I believe that further development of this
compound merits consideration," said Pierre N. Tariot, M.D., Professor of
Research Psychiatry, Director of the Memory Disorders Center of the Banner
Alzheimer's Institute in Phoenix, and chairman of the study's data and safety
monitoring board.
"While we are disappointed that the trial did not meet the primary
endpoint, we are encouraged by the favorable trend seen in the subgroup of
subjects receiving cholinesterase inhibitors," said Stephen R. Murray, M.D.,
Ph.D., Chief Medical Officer. "Clearly there is a significant need for new
options for the treatment of Alzheimer's disease, and we believe that the
effects of MEM 1003 seen in this study warrant further investigation."
Subjects participating in the study were randomized at enrollment into one
of three treatment groups -- 30 mg of MEM 1003 twice a day, 90 mg of MEM 1003
twice a day or placebo twice a day. During the double-blind treatment segment
of the study, subjects received MEM 1003 or placebo for a period of 12 weeks,
which was followed by a four-week single-blind placebo treatment. Secondary
measures assessed changes in activities of daily living, behavior and global
function.
MEM 1003 was generally well-tolerated in the trial. The rates of
treatment-emergent adverse events were similar in all arms of the trial.
There were seven treatment-emergent serious adverse events (SAEs) in five
subjects, including two deaths. Four of the subjects were in the 30 mg dose
group and the fifth subject was in the 90 mg dose group. None of the SAEs
were deemed to be treatment-related by the investigators.
The Company expects to report top-line results from its Phase 2a clinical
trial of MEM 3454, its lead nicotinic alpha-7 agonist, in Alzheimer's disease
by the middle of the fourth quarter.
About MEM 1003
MEM 1003 is a neuronal L-type calcium channel modulator that Memory
Pharmaceuticals is developing for the treatment of Alzheimer's disease. By
blocking L-type calcium channels, MEM 1003 may regulate the flow of calcium
and reestablish normal levels of calcium, which may help treat and prevent the
onset of Alzheimer's disease.
Conference Call and Webcast Information
Memory Pharmaceuticals will hold a conference call on Monday, October 15,
2007, at 9:00 a.m. EDT to discuss the top-line data from the trial. The
conference call will also be broadcast live from the "Investors" section of
the Company's website. Memory Pharmaceuticals' senior management will host the
conference call. Investors and other interested parties may access the call
as follows:
Date: Monday, October 15, 2007
Time: 9:00 a.m. EDT
Telephone (U.S.): 866.831.6247
Telephone (international): 617.213.8856
Participant Passcode: 75768586
Webcast: http://www.memorypharma.com under the
"Investors" section
An audio replay of the conference call will be available from 11:00 a.m.
EDT on Monday, October 15, 2007, until Monday, October 22, 2007. To access the
replay, please dial 888.286.8010 (U.S.) or 617.801.6888 (international) and
enter passcode number 19010973. An audio replay of the conference call will
also be available under the "Investors" section of the Company's website
during the same period.
About the Company
Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on
developing innovative drugs for the treatment of debilitating CNS disorders
such as Alzheimer's disease, schizophrenia, depression and bipolar disorder.
For additional information, please visit our website at www.memorypharma.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that are subject to
risks and uncertainties. All statements, other than statements of historical
facts, regarding management's expectations, beliefs, goals, plans or Memory
Pharmaceuticals' prospects, future financial position, future revenues and
projected costs should be considered forward-looking. Readers are cautioned
that actual results may differ materially from projections or estimates due to
a variety of important factors, including the outcome of clinical trials of
Memory Pharmaceuticals' drug candidates and whether they demonstrate these
candidates' safety and effectiveness; the risks and uncertainties associated
with: obtaining additional financing to support Memory Pharmaceuticals' R&D
and clinical activities and operations; obtaining regulatory approvals to
conduct clinical trials and to commercialize Memory Pharmaceuticals' drug
candidates; Memory Pharmaceuticals' ability to enter into and maintain
collaborations with third parties for its drug development programs; Memory
Pharmaceuticals' dependence on its collaborations and its license
relationships; achieving milestones under Memory Pharmaceuticals'
collaborations; Memory Pharmaceuticals' dependence on preclinical and clinical
investigators, preclinical and clinical research organizations, manufacturers
and consultants; and protecting the intellectual property developed by or
licensed to Memory Pharmaceuticals. These and other risks are described in
greater detail in Memory Pharmaceuticals' filings with the Securities and
Exchange Commission. Memory Pharmaceuticals may not actually achieve the goals
or plans described in its forward-looking statements, and investors should not
place undue reliance on these statements. Memory Pharmaceuticals disclaims any
intent or obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release.
SOURCE Memory Pharmaceuticals Corp.
-0- 10/15/2007
/CONTACT: Jzaneen Lalani, General Counsel, +1-201-802-7249; or Laura
Perry of Stern Investor Relations, Inc., +1-212-362-1200, both for Memory
Pharmaceuticals Corp./
/Web site: http://www.memorypharma.com /
(MEMY)
CO: Memory Pharmaceuticals Corp.
ST: New Jersey
IN: BIO HEA MTC
SU: SCZ CCA TRI
JD-CF
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8135 10/15/2007 06:00 EDT http://www.prnewswire.com
