NEW YORK, September 20 /PRNewswire/ --

- Agreement demonstrates broad potential use of Intellect's clinical 
candidate

Intellect Neurosciences, Inc. (OTC Bulletin Board: ILNS), a
biopharmaceutical company focused on the development of disease-modifying
therapeutic agents for the treatment and prevention of Alzheimer's disease
and related disorders, and CHDI, Inc., a non-profit organization pursuing the
discovery and development of drugs to prevent or slow the progression of
Huntington disease (HD), announced today that they have entered into an
agreement under which CHDI will assess Intellect's OXIGON(TM) as a potential
therapy for Huntington disease. CHDI has access to a variety of relevant
research tools, including in vitro and in vivo assays and animal models.
Intellect has completed Phase I clinical trials for OXIGON(TM) in elderly
healthy volunteers.

Dr. Daniel Chain, CEO and Chairman of Intellect, commented: "We are
pleased that CHDI is evaluating whether OXIGON's method of action might
extend to Huntington disease. OXIGON(TM) is planned to enter Phase II
clinical trials in Alzheimer's patients in 2008. The data generated in the
CHDI study could support proceeding with clinical trials in HD patients as
well."

"We are intrigued by the properties of this compound, which has
demonstrated neuroprotective effects in various animal models," said Robert
Pacifici, CHDI's Chief Scientific Officer. "We are pleased to work with the
Intellect team to evaluate the usefulness of OXIGON(TM) to treat HD."

About OXIGON(TM)

Intellect's lead drug candidate, OXIGON(TM), is a chemically synthesized
form of a naturally occurring molecule that has unique neuroprotectant and
antioxidant properties. OXIGON(TM) has been demonstrated to protect the brain
from many potent neurotoxins in animals and also to block the formation of
toxic aggregates that result from abnormal folding of proteins such as beta
amyloid that accumulates in the brain of Alzheimer's patients and potentially
other abnormal proteins such as those found in Huntington's disease.
Preclinical studies using transgenic mouse models have provided evidence that
OXIGON(TM) has the potential to reduce brain amyloid burden and improve
cognition in Alzheimer's disease.

Intellect is the exclusive licensee of patents related to the use of
OXIGON(TM), which are owned jointly by New York University and the University
of South Alabama Research Foundation. Patents have been granted in Europe,
the United States and several other countries.

About Huntington Disease

Huntington disease is a familial disease, passed from parent to child
through a mutation in a gene. Each child of a HD parent has a 50-50 chance of
inheriting the HD gene which causes programmed degeneration of brain cells
and results in emotional disturbance, loss of intellectual faculties and
uncontrolled movements. Most people with HD develop the symptoms at midlife
but in some people onset occurs in infancy or old age. The average survival
time after onset is approximately fifteen to twenty years. It is estimated
that about one in every 10,000 persons has the HD gene. At this time, there
is no way to stop or reverse the course of Huntington disease.

About Intellect Neurosciences, Inc.

Intellect Neurosciences, Inc. is a biopharmaceutical company engaged in
the discovery and development of disease-modifying therapeutic agents for the
treatment and prevention of Alzheimer's disease and other disorders.
Intellect has recently completed Phase I clinical trials for OXIGON(TM), a
unique antioxidant and anti-amyloid compound that has potential to treat
Alzheimer's disease and other disorders. Also, the Company has a broad
proprietary immunotherapy platform for both passive and active immunization
against Alzheimer's disease.

For additional information, please visit http://www.intellectns.com

About CHDI, Inc.

CHDI, Inc. is a non-profit organization pursuing a biotech approach to
rapidly discover and develop drugs that prevent or slow Huntington disease.
Through collaborations with academic and industrial partners, CHDI, Inc.
participates in all aspects of drug discovery and development from discovery
research through clinical development. For more information about CHDI, Inc.
and its collaborative programs please see www.chdi-inc.org.

Web site: http://www.intellectns.com
              http://www.chdi-inc.org