Intellect Neurosciences, Inc. is a biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment and prevention of rare neurodegenerative conditions. The company’s internal drug discovery programs are focused on the therapeutic applications of monoclonal antibodies and antibody-drug conjugates. Intellect has granted licenses to global pharmaceutical companies covering several of the patents in its intellectual property portfolio, which will entitle the company to significant milestone payments and sales based royalties upon successful development and commercialization of the licensed drug candidates.
BITDA is a company’s earnings before interest, taxes, depreciation, and amortization and is an accounting measure calculated using a company’s net earnings, before interest expenses, taxes, depreciation and amortization are subtracted, as a proxy for a company’s current operating profitability.
Although EBITDA is not a financial measure recognized in generally accepted accounting principles, it is widely used in many areas of finance when assessing the performance of a company, such as securities analysis. It is intended to allow a comparison of profitability between different companies, by discounting the effects of interest payments from different forms of financing (by ignoring interest payments), political jurisdictions (by ignoring tax), collections of assets (by ignoring depreciation of assets), and different takeover histories (by ignoring amortization often stemming from goodwill). EBITDA is a financial measurement of cash flow from operations that is widely used in mergers and acquisitions of small businesses and businesses in the middle market. It is not unusual for adjustments to be made to EBITDA to normalize the measurement allowing buyers to compare the performance of one business to another.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc., a biopharmaceutical company, discovers and develops therapeutic agents for the treatment and prevention of neurodegenerative conditions primrily proteinopathies. Its licensed programs include OX1 (SHP622), an orally-administered, brain-penetrating, and naturally-occurring copper-binding small molecule, which has tested in human Phase I safety clinical trials for the treatment of various neurodegenerative diseases, such as Friedreich’s Ataxia. The company’s internal pipeline, which are in preclincial comprise TauC3 for the treatment of Alzheimer’s disease; and CONJUMAB-A for the treatment of age related macular degeneration. The company has a research collaboration agreement with Medical Research Council Technology, as well as license agreements with the South Alabama Medical Science Foundation, New York University, AHP Manufacturing BV, and Northwestern University. Intellect Neurosciences, Inc. was founded in 2005 and is based in Englewood Cliffs, New Jersey.