Amorfix and the Ontario Genomics Institute announce partnership to accelerate development of a blood test for Alzheimer's disease

TORONTO, Jan. 31 /CNW/ - Amorfix Life Sciences Inc. and the Ontario
Genomics Institute (OGI) announced today they are entering into a partnership
to develop a blood test for Alzheimer's disease, EP-AD(TM), based upon
Amorfix's patent-pending Epitope Protection technology. OGI will assist
Amorfix in accelerating its program for diagnosis of neurodegenerative
diseases drawing on OGI's portfolio of state-of-the-art genomics and
proteomics facilities, research and pre-commercial development in Ontario.
Dr. George Adams, Amorfix's CEO said, "Alzheimer's Disease affects 10% of
people over 65 years old and there is no definitive way to confirm a diagnosis
before death. I am very pleased to have OGI's support as we aim to be the
first to develop a definitive blood test for Alzheimer's."
Alzheimer's disease is associated with an accumulation of protein
aggregates, called amyloid, in the brain. Recent research has suggested that
these amyloid aggregates result from aggregation of misfolded A-beta protein
fragments. A-beta is present in blood and the company believes aggregates are
also present in the circulation in Alzheimer's patients. Dr. Neil Cashman,
Amorfix's CSO said, "Until now, it has been very difficult to detect
aggregated misfolded proteins in blood where normal protein is prevalent. With
our progress on the Epitope Protection platform, we are now in a position to
finish our development of a test for Alzheimer's A-beta aggregates in blood."
"We are very excited to partner with Amorfix to expedite the translation
of leading research discoveries for public benefit," said Dr. Christian Burks,
OGI President and CEO. "Ontario, with its leading-edge genomics and proteomics
research community, is uniquely positioned to foster advances in our
understanding of the role of protein misfolding and aggregation in human
disease, and Amorfix is uniquely positioned to apply this understanding to
discovery of better diagnostics tools and therapies for Alzheimer's and other
neurodegenerative diseases."
Pursuant to a term sheet executed December 22, 2005, OGI has executed a
subscription agreement to invest $100,000 in Amorfix to accelerate the
EP-AD(TM) project. OGI will, upon closing, invest $50,000 receiving 100,000
common shares of AMF and 50,000 warrants to purchase shares for $.90 for a
term of two years. Upon the achievement of a defined research milestone, OGI
will invest $50,000 at market price and receive a one-half warrant for each
share purchased to purchase a share at the then market price within 2 years.
This transaction is subject to acceptance for filing by the TSX Venture
exchange.