DURHAM, N.C., Feb. 9, 2011 (GLOBE NEWSWIRE) -- Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp. (OTCQB:CURX) (Frankfurt:8CX), today announced Curaxis' new listing on the Frankfurt Stock Exchange (FSE). Curaxis was at the FSE for its opening on February 8, 2011, and will trade under the symbol 8CX:GR.
"We are thrilled to be listed on the Frankfurt Stock Exchange," said Mr. Smith. "As a forward-thinking company, we are among an increasing number of U.S. companies focused on expanding our reach in Europe. This new listing will benefit both Curaxis and our shareholders alike."
The phase IIB clinical trials for Curaxis' lead Alzheimer's drug candidate, Memryte, are anticipated to launch in mid-2011. Memryte addresses the pathologies of Alzheimer's disease through multiple pathways, including beta-amyloid, tau phosphorylation, inflammation and aberrant cell cycling.
"We are very excited to work with Curaxis in Europe. With its stock now listed on the Deutsche Boerse FSE, Curaxis is the only European-traded pure-play drug company with an Alzheimer's drug candidate in advanced FDA trials," said Andreea Porcelli, owner at Luxembourg-based Continental Advisors S.A.
"As Curaxis' U.S. investment banker, we believe the cross-border listing increases liquidity options and creates new strategic partnership opportunities for Curaxis worldwide," added William Schloth, Chief Executive Officer, Southridge Investment Group, LLC.
About Curaxis
Curaxis is an emerging specialty pharmaceutical company with a hormone drug product candidate for the treatment of Alzheimer's disease and multiple cancers. Curaxis' therapeutic platform is based on the hypothesis that many diseases of aging may be caused by age-related changes in the function of the hypothalamic-pituitary-gonadal (HPG) axis. The HPG axis is a hormonal endocrine feedback loop that controls development, reproduction and aging in animals. This drug development platform is built on the premise that hormones associated with this feedback loop are beneficial early in life, when they promote growth and development, but are harmful later in life when the mechanism for feedback is compromised, thereby leading to disease processes, including pathologies associated with Alzheimer's disease and various cancers.
Notice Regarding Forward Looking Statements
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding potential results and future plans and objectives of Curaxis Pharmaceutical Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the Securities and Exchange Commission. Other risk factors may include, but are not limited to, fluctuation in quarterly results, and increased competition in our operations, our ability to continue operations as scheduled, and our ability to protect the proprietary technology we use. Further, the company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the company's control, such as announcements by competitors and service providers.
The contents of this press release are presented as a general overview of the company. It is intended only to contain general information regarding the company and its business and does not purport to provide complete disclosure or analysis of all matters, which may be relevant to a decision to make an investment, including all risk factors or similar considerations. Although the information is believed current as of the date herein, the information may be subject to change, amendment or supplementation, and the company does not expect, and assumes no obligation, to update or otherwise revise the information herein.