Business
Neurotrope Launches New Long-Term Clinical Trial of Bryostatin with the National Institutes of Health for the Treatment of Patients with Alzheimer's Disease
- New Phase 2 Study to Be Conducted in Collaboration with NIH Under a $2.7 Million Grant - - Management to Host Investor Conference Call and Webcast Today at
About this update from Nexttrip, Inc.
[{"type":"text","content":"- New Phase 2 Study to Be Conducted in Collaboration with NIH Under a $2.7 Million Grant -\n - Management to Host Investor Conference Call and Webcast Today at 11:00 AM ET -\n\n\nNEW YORK, May 28, 2020 /PRNewswire/ -- Neurotrope, Inc. (Nasdaq: NTRP) today announced the launch of a new long-term study of Bryostatin-1 for the treatment of patients with Alzheimer's disease (AD). The Phase 2 clinical study will be conducted in collaboration with the National Institutes of Health (NIH) under a $2.7 million grant to Neurotrope. After reviewing the data from the previous trial with Key Opinion Leaders and the NIH, we designed a study to evaluate the long-term therapeutic effect of Bryostatin-1 in the absence of Namenda® (memantine) in patients with AD. The Company has engaged Worldwide Clinical Trials to initiate site recruitment and activation. \nAs recently announced, Neurotrope has entered into a definitive merger agreement pursuant to which Metuchen Pharmaceuticals, L.L.C. and Neurotrope have agreed to merge in an all-stock transaction resulting in a newly formed holding company focused on men's health conditions, which will be named Petros Pharmaceuticals, Inc. (\"Petros\"). Upon closing of the transaction, Bryostatin-1 and substantially all of Neurotrope's existing assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the merger agreement, will be spun-out into a new, separately traded company which will retain the name Neurotrope Bioscience, Inc. (\"NBI\"). \n\"The initiation of a new Bryostatin-1 study in AD, and our efforts in advancing a merger with Metuchen, underscore what we believe is a unique opportunity for our investors to participate in two distinct, publicly-listed companies with potentially meaningful value propositions: Petros Pharmaceuticals, Inc. and the spin-out company NBI,\" stated Dr. Charles S. Ryan, Neurotrope's Chief Executive Officer. \n\"We are very excited to advance Bryostatin-1 to its next phase of development,\" stated Dr. Daniel Alkon, President and Chief Scientific Officer of Neurotrope. \"Central to this new development effort is to study Bryostatin-1's efficacy over a longer course of treatment and in patients whom we believe show the most potential for clinical benefit. Given the high unmet need for new therapies to treat AD, recognized by the NIH...