Berwyn, Pennsylvania, Jan 05, 2022 (Newsfile Corp via COMTEX) -- Berwyn, Pennsylvania--(Newsfile Corp. - January 5, 2022) - Annovis Bio, Inc. /zigman2/quotes/216213707/composite ANVS 0.00% ("Annovis" or the "Company"), a clinical-stage drug platform company addressing neurodegenerative diseases, today announced that the United States Adopted Names (USAN) Council has assigned the unique name "Buntanetap" for the Company's lead drug candidate ANVS401/Posiphen. Buntanetap, a translational inhibitor of neurotoxic proteins, is currently under clinical development in Alzheimer's disease (AD), Parkinson's disease (PD), and dementia in Down syndrome (AD-DS).
"The USAN approval of Buntanetap as the generic name of ANVS401 is another step forward in its clinical advancement and affirmation as a potential drug for the treatment of neurodegenerative diseases such as Alzheimer's and Parkinson's disease," said Maria L. Maccecchini, Ph.D., Founder, President, and CEO of Annovis. "Buntanetap is a unique translational inhibitor of neurotoxic aggregating proteins. No such other drug exists at this time."
Buntanetap, previously known as ANVS401 or Posiphen, is sometimes mistaken for phenserine. However, Buntanetap is the pure (+) enantiomer, i.e., mirror image, of (-) phenserine. The two compounds are totally different drugs as they have different efficacy, mechanisms of action, and there is no chiral switching between them or their metabolites. Phenserine is an acetylcholinesterase inhibitor, similar to Aricept or Exelon, while Buntanetap inhibits the translation of neurotoxic aggregating proteins. Both compounds derive from the intramural research program at National Institute of Aging, a division of the U.S. National Institutes of Health. Phenserine was invented in 1995, while Buntanetap in 2002. Both enantiomers were licensed to Axonyx, Inc., which developed phenserine into phase 3 clinical studies. Axonyx merged with Torrey Pines Therapeutics, which licensed Buntanetap to QR Pharma in 2008 that became Annovis Bio in 2019.
Buntanetap is currently under clinical development by Annovis and recently concluded two phase 2 studies, one in AD patients and one in PD patients, showing positive results in both patient populations and improvement of cognition and motor function, respectively. The Company expects guidance from the U.S. Food and Drug Administration (FDA) in Q1 of 2022 on the initiation of phase 3 clinical trials for AD and PD.
The United States Adopted Names (USAN) Council is responsible for selecting simple, informative, and unique nonproprietary drug names. The USAN Council establishes logical nomenclature classifications based on pharmacological or chemical relationships. The USAN Council (USANC) is comprised of volunteers nominated to the Council based on relevant knowledge, experience and interest in pharmacology or medicinal chemistry. In addition to one member-at-large and a U.S. Food and Drug Administration (FDA) liaison, the USAN council consists of one representative from The American Medical Association (AMA), the United States Pharmacopeia (USP) and the American Pharmacists Association (APhA) .
About Annovis Bio, Inc.
Headquartered in Berwyn, Pennsylvania, Annovis Bio, Inc. (Annovis) is a clinical-stage, drug platform company addressing neurodegeneration, such as Alzheimer's disease (AD), Parkinson's disease (PD), and Alzheimer's in Down Syndrome (AD-DS). We believe that we are the only company developing a drug for AD, PD, and AD-DS that inhibits more than one neurotoxic protein and, thereby, improves the information highway of the nerve cell, known as axonal transport. When this information flow is impaired, the nerve cell gets sick and dies. We conducted two Phase 2 studies: one in AD patients and one in both AD and PD patients. In the AD/ PD study our drug improves memory loss and dementia associated with AD, as well as motor function in PD.
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words, and include, without limitation, statements regarding the timing, effectiveness, and anticipated results of Buntanetap clinical trials. Forward-looking statements are based on Annovis Bio, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Annovis Bio, Inc. undertakes no duty to update such information except as required under applicable law.
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