Amorfix announces strategic plan to centralize operations in South San Francisco and focus on neurodegenerative disease

TSX: AMF

TORONTO, Jan. 12, 2015 /CNW/ - Amorfix Life Sciences Ltd., a biotechnology company focused on diagnostics and therapeutics for misfolded protein diseases, in particular neurodegenerative diseases, today announced that it is closing its operations in Mississauga, Ontario during the first quarter. The Company plans to relocate operations to South San Francisco later this year.  The move to California will be delayed to conserve cash until new investment funds are received.

"The San Francisco Bay Area is a dynamic hub for biotechnology and relocating the Company is an integral part of our business strategy", said Dr. Robert Gundel, Amorfix President and CEO.  "We have already identified office and laboratory space, putting us in an ideal location to implement our business plan and grow the Company." 

The Company will focus on developing its neurodegenerative disease assets for ALS and Alzheimer's disease.  For ALS, these assets include therapeutic antibodies that block misfolded SOD1 and a simple blood test diagnostic for early detection of the disease.  For Alzheimer's disease, the company has developed a 'best in class' diagnostic that can accurately identify patients with early-stage disease. 

The Company is in discussions with a number of firms concerning the development of its neurodegenerative assets, as well as strategic alliances and/or partnerships around the technologies. 

The Company will continue to be a public company listed on the TSX.

About ALS
Amyotrophic lateral sclerosis (ALS) is a fatal neuromuscular disease that afflicts approximately 30,000 individuals in North America, with 5,000 new cases per year. ALS, also known as Lou Gehrig's disease, produces weakness and atrophy in the muscles that control movement, speech, swallowing, and respiration. These muscles weaken and atrophy due to degeneration of motor nerve cells in the spinal cord and brain. Half of affected individuals die within three years and survival over five years is less than 20%. There is currently no cure for ALS, and current treatments have limited effects.

About Amorfix SOD1 Antibodies for the treatment of ALS
In ALS patients, the propagation of aggregated misfolded SOD1 protein kills the nerve cells that supply muscles. As a result, the patient becomes progressively paralyzed and unable to breathe. Dr. Neil Cashman, Amorfix CSO, discovered that misfolded SOD1 exposes regions of the protein that are buried in the properly folded form, and that specifically targeting these misfolded regions has the ability to neutralize the toxicity to nerve cells. Amorfix has developed therapeutic antibodies that recognize only the harmful, misfolded SOD1 and spare normal SOD1 protein to preserve its normal protective activity.  The Company is also developing a simple blood test diagnostic for early detection of ALS and has a granted US patent covering all therapeutic antibodies that bind to misfolded SOD1 to be used for the treatment of ALS. 

About Alzheimer's disease
More than 35 million people worldwide have Alzheimer's disease or other types of dementia.  Alzheimer's disease is the most common type of dementia and accounts for an estimated 60–80% of cases. As the population around the world ages, the incidence of Alzheimer's disease is predicted to increase significantly. Alzheimer's disease progresses through three defined phases: a stage characterized by amyloid (oligomeric A[beta]) build-up in the brain without any symptoms of the disease, mild cognitive impairment (MCI) mainly affecting memory function, and full-blown Alzheimer's disease. However, loss of memory is common in normal aging, and does not necessarily indicate Alzheimer's disease. The predominant theory is that a build up of plaques in the brain caused by the clumping and accumulation of A[beta] lead to neuronal cell death and the onset of Alzheimer's disease symptoms.  The Company has developed a diagnostic that can identify patients with MCI who are destine to develop Alzheimer's disease with 95% sensitivity by measuring the levels of aggregated A[beta]42 and aggregated A[beta]40 in patient cerebrospinal fluid (CSF). The ability to separately measure A[beta]42 and A[beta]40 is unique to the Amorfix EP-AD diagnostic and allows a greater understanding of the role of aggregated A[beta] proteins in Alzheimer's disease.    

About Amorfix
Amorfix Life Sciences Ltd. (TSX:AMF) is an early-stage product development company developing therapeutic antibodies and diagnostics targeting misfolded protein diseases. Amorfix utilizes its computational discovery platform, ProMIS™, to predict novel Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Using this technology, Amorfix is developing novel antibody therapeutics and companion diagnostics for cancer and amyotrophic lateral sclerosis (ALS). In addition, Amorfix has developed two proprietary technologies to specifically identify very low levels of misfolded proteins in a biological sample: Epitope Protection™ and AMFIA™, an ultra-sensitive dual-bead immunoassay. Use of these technologies has generated a cerebrospinal fluid (CSF) screening test for both Alzheimer's disease (AD) and mild cognitive impairment (MCI), and an ultrasensitive method for detecting the hallmark of AD, aggregated beta-Amyloid, in brain tissue, CSF and blood from animal models of AD. For more information about Amorfix, visit www.amorfix.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Amorfix Life Sciences Ltd.

Dr. Robert Gundel, President and Chief Executive Officer, Amorfix Life Sciences Ltd., Tel: [phone], Fax: [phone], [email protected]; Warren Whitehead, Chief Financial Officer, Amorfix Life Sciences Ltd., Tel: [phone], Fax: [phone], [email protected]