mrc

London, UK, 25th June, 2008 – MRC Technology (MRCT) (London, UK) and Intellect Neurosciences, Inc (OTCBB: ILNS) announced they have achieved an important milestone through their collaborative efforts to humanize Intellect’s lead antibody IN-N01 necessary for creating a therapeutic antibody for the treatment of Alzheimer’s disease. The antibody is intended to be used to promote clearance from the brain of the toxin that leads to Alzheimer’s disease, beta amyloid. IN-N01 is Intellect’s first drug candidate based on the technology invented by Dr. Daniel Chain, the Company’s Chairman and CEO.

Dr. Chain commented: “IN-N01 is designed to specifically block the neurotoxicity of beta amyloid, which accumulates in the brains of Alzheimer’s patients while minimizing the potential for adverse effects”. Dr. Chain added: “IN-N01 is similar to Bapineuzumab being developed independently by Wyeth and Elan Pharma International Ltd. (Elan) in that it binds the same portion of the toxin, but we are engineering IN-N01 with the aim of reducing its potential to cause inflammation in the brain and so increase the dose at which it can be administered safely. The effectiveness of our strategy will ultimately be tested in patient clinical trials. The recent announcement by Wyeth and Elan of Top Line Phase 2 positive data in a subset of patients is encouraging for this prototype drug and also opens a large window of opportunity for Intellect to develop next generation molecules. We hope that IN-N01 will be the Best-in-Class of the ANTISENILIN® antibody family and useful to treat a potentially broader population of Alzheimer’s patients”.

The Company recently announced that it has granted a royalty-bearing license to Wyeth and Elan Pharma International Ltd. (Elan) regarding patents and patent applications related to antibodies and methods of treatment for Alzheimer’s disease including a co-exclusive license to Bapineuzumab under the ANTISENILIN® patents.

“Mouse antibodies such as the precursor of IN-N01 are recognized as intrinsically immunogenic and therefore must undergo a process of humanization to create a therapeutic antibody” explained Dr. Tarran Jones, Therapeutic Antibody Group Director, MRCT. Dr. Jones commented, “We applied our expertise to create a detailed molecular model of IN-N01 to better understand which framework amino acids are important for the optimal activity and safety of the molecule. This work will be critical to the development of IN-N01 as a therapeutic antibody.”

MRCT Contact Information
Dr Tarran Jones, Director of TAG (tarran.jones@tech.mrc.ac.uk) MRC Technology, 1-3 Burtonhole Lane, Mill Hill, London NW7 1AD, UK.
Website: www.mrctechnology.org Phone: +44 (0)20 8906 7100 Fax: +44 (0)20 8906 7200

Intellect Neuroscience’s contact Information
Elliot Maza, JD, CPA - President & Chief Financial Officer Intellect Neurosciences, Inc.
7 West 18th Street, 9th Floor New York, NY 10011, USA
Website: http://www.intellectns.com Phone: 212-448-9300

Notes to Editors

About Alzheimer’s disease
Alzheimer’s disease, the most common form of dementia, is characterized by progressive loss of memory and cognition, ultimately leading to complete debilitation and death. A hallmark feature of Alzheimer’s pathology is the presence of insoluble protein deposits known as beta-amyloid on the surface of nerve cells, which results from the accumulation of soluble beta-amyloid in the brain. The effects of the disease are devastating to the patients as well as the caregivers, with significant associated health care costs. It is estimated that there are over 12 million people suffering from Alzheimer’s disease in the in the developed countries with the number increasing also in developing countries as the global population ages. Currently marketed drugs transiently affect some of the symptoms of the disease, but there are no drugs on the market today that slow or arrest the progression of the disease. These symptomatic drugs are projected to generate approximately $4 billion in sales by 2008, indicating both the size of the market and the demand for effective treatment beyond symptomatic improvements.

About Intellect’s Immunotherapy Platforms for Alzheimer’s disease
Immunotherapy for Alzheimer’s disease involves making an antibody molecule available to bind to the endogenous beta-amyloid toxin, thus promoting its clearance away from the brain. This therapeutic outcome can be achieved either by provoking the patient’s immune system to generate such an antibody (active immunization) or by administering an externally generated antibody (passive immunization). Both approaches have the potential to slow or arrest disease progression provided that key safety issues are addressed. Intellect has incorporated proprietary safety features into its ANTISENILIN and RECALL-VAXTM technology platforms for both passive and active immunization, respectively. These features and supporting patent position provides the Company with a strong competitive advantage in this field.