Neoprobe Corp. (NEOP) said it has gained exclusive worldwide
licensing rights for a radioimaging material from AstraZeneca PLC
(AZN, AZN.LN) that might help better diagnose Alzheimer's
disease.
Shares rose 2.5% to $2.50 after hours Monday. The stock is off
20% over the past three months through the close.
The pharmaceutical company said the fluorine-based radioimaging
candidate can help evaluate patients with symptoms of cognitive
impairment, a possible indicator of Alzheimer's. The material uses
low-level radiation to highlight deposits in the brain that can be
imaged in positron emission tomography scans, commonly known as PET
scans.
Clinical studies of more than 70 patients suggested the
candidate can quickly and safely identify patients who probably
suffer from Alzheimer's. Alternatively, a negative result will show
that patients do not suffer from the disease.
Neoprobe plans to start a phase-3 clinical program using the
product in early 2013 while at the same time building the safety
and training database needed to offer it. Patents and patent
applications filed for the product are effective until 2028.
Neoprobe earlier this month said it will change its name to
Navidea Biopharmaceuticals Inc., following the sale of its namesake
medical device business. The company is scheduled to begin trading
under new ticker symbol NAVB on the NYSE Amex exchange Jan. 5.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com