Gong marks IPO Probiodrug
By sounding the gong, CEO of Probiodrug (Trading symbol PBD), Dr Konrad Glund, celebrates the IPO of Probiodrug. Mr. Glund is accompanied by amongst others, Dr Hendrik Liebers, CFO and Dr Inge Lues, Chief Development Officer of Probiodrug.
Headquartered in Halle, Germany, Probiodrug AG is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s Disease. Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides which play a central role in pathological conditions.
Today Probiodrug’s aim is to become a leading company in the development of Alzheimer’s Disease treatments and to thereby provide a better life for Alzheimer’s Disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer’s Disease. The Company has medical use and composition of matter patents related to the inhibition of QC and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company’s view, with a leading position in this field of research.
Alzheimer’s Disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s Disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, over 35 million people worldwide currently live with the condition and this number is expected to double by 2030 and to more than triple by 2050 to 115 million (World Alzheimer Report 2013).
For more information: www.probiodrug.de