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Vaccine for Alzheimer's?
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July 8, 1999: 5:11 a.m. ET
Ireland's Elan may have treatment for brain-wasting disease: stock rises
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LONDON (CNNfn) - Irish drug group Elan announced Thursday it has developed a possible vaccine for Alzheimer's disease. The news pushed Elan's stock up nearly 1.5 percent in early London trading.
The New York, London and Dublin-listed group has undertaken several studies with mice which have resulted in a therapy to treat and prevent the development of the brain-wasting disease which affects millions of people worldwide.
Elan President and Chief Operating Officer John Groom said in a statement, "These findings, while preliminary, are exciting."
He said the group would file an application later this year with the U.S. Food and Drug Administration to seek approval to begin Phase 1 clinical studies of the vaccine, AN-1792, on humans.
Analysts warned however, that major hurdles remain before a cure for Alzheimer's can be certain.
"This looks interesting stuff, but it's very, very early stages," said pharmaceuticals analyst James McKean at Morgan Stanley. He said that the drug, if proved successful, was probably still 10 years away from the market.
"There have been other drugs [for treating Alzheimer's] which looked promising, but then disappointed," he added.
AN-1792 works by preventing the formation of protein deposits which build up as Alzheimer's takes hold. However, doubts over the new technology center on whether these proteins are a cause of Alzheimer's, or merely a by-product of the brain.
Elan (ELN) stock rose 1.4 percent to 1,837 pence in early London trade Thursday. 
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Elan Corp.
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