Velacor Therapeutics Pty Limited

Novel Treatment for Alzheimer's Disease

Velacor Therapeutics is developing a revolutionary treatment for Alzheimer's disease. Tau tangles are an emerging target in Alzheimer's disease. Protein tau stabilises the microtubule transport system in healthy neurons which is essential for the health of the neuron and communication between neurons. In Alzheimer's disease tau becomes hyperphoshorylated leading to a breakdown in microtubule transport and the formation of tau tangles, affecting the ability of neurons to communicate and eventually leading to death of the neuron. Protein Phosphatase 2a (PP2A) is the key phosphatase responsible for cleaving phosphate from protein tau and the activity of this enzyme has been shown to be reduced in Alzheimer's disease. Velacor's lead compound has been shown to restore activity of this enzyme and represents a first-in-class therapy. The treatment also has application in other neurodegenerative diseases with tau pathology such as Frontal Temporal Dementia, Cortico Basal Degeneration and Supranuclear Palsy. Velacor has completed phase 1 clinical testing in humans demonstrating the safety and tolerability of the lead compound. Velacor is poised to commence a phase 2a clinical trial in Alzheimer's disease and has received approval to conduct the study from the Melbourne Health Human Research Ethics Committee. The phase 2a study will be financed via a private placement in the company to be underwritten by Velacor director and AFL Chairman, Mike Fitzpatrick and Velacor Chairman, Ray Wilson. Velacor is seeking interest from potential investors. Interested parties should contact Velacor CEO Grant Morley on +61 (0)3 83443189 or gmorley@unimelb.edu.au