AXYX Axonyx

Axonyx Inc. (NASDAQ: AXYX) announced today that three presentations of data on its drug development candidate, Phenserine, and one presentation of data on its drug development candidate, Posiphen(TM), will be made at the 9th International Geneva/Springfield Symposium on Advances in Alzheimer Therapy in Geneva, Switzerland, being held April 19-22, 2006. Phenserine has been in development by the Company for the treatment of mild to moderate Alzheimer's disease (AD) and Posiphen is currently being developed for the treatment of AD progression. The first presentation is entitled "Double Blind Placebo-Controlled Evaluation Of The Safety and Efficacy of Phenserine Tartrate for the Treatment of Mild to Moderate Alzheimer's Disease" and will highlight data from Axonyx's two curtailed Phase III clinical trials with Phenserine. This will cover a statistically significant improvement of ADAS-cog score over placebo demonstrated by the 15mg twice daily group at times following 12 weeks of treatment. The second presentation is entitled "Changes of Brain Volumes during Treatment of Patients with Mild to Moderate Alzheimer's Disease with Phenserine Tartrate or Placebo." This will report a trend indicating a preservation of brain volumes for patients on Phenserine treatment in a small group of 16 AD patients who had brain volumes assessed before and after 6 months of treatment with Phenserine tartrate (PT). The third presentation is entitled "Effect of Phenserine Treatment on Brain Amyloid Load and Cerebral Metabolism in Mild Alzheimer Patients as Studied by PET." This will outline an ongoing clinical positron emission tomography (PET) study of Phenserine, which was initiated in November 2004 at the Karolinska Institute, Sweden. The fourth presentation is entitled "Brain Beta-Amyloid (1-42) In Mice Treated Orally with Posiphen Tartrate Is Significantly Lower than in Vehicle Controls." This will report the reduction of beta-amyloid (1-42) levels in mouse brain following Posiphen treatment. The reduction in mice was shown to be associated with blood levels of Posiphen that were lower than the levels attained in the first phase I human Posiphen study. Axonyx is pleased that the organizers of the Geneva Symposium have accepted these presentations which will be available to the leading authorities who attend this important scientific event. About Axonyx Axonyx Inc. is a U.S.-based biopharmaceutical company engaged in the acquisition and development of proprietary pharmaceutical compounds for the treatment of Central Nervous System disorders. The Company currently has three compounds in development for Alzheimer's disease, namely Phenserine - a potential symptomatic and disease progression treatment of mild to moderate Alzheimer's disease (AD), Posiphen(TM) - a potential disease progression treatment for AD now in Phase I, and BisNorCymserine (BNC) - a potential symptomatic treatment of severe AD now in pre-Investigational New Drug (IND) stage. The Company is looking to identify licensing partners to further the development of Phenserine. This press release may contain forward-looking statements or predictions. These statements represent our judgment to date, and are subject to risks and uncertainties that could materially affect the Company, including those risks and uncertainties described in the documents Axonyx files from time to time with the SEC, specifically Axonyx's annual report on Form 10-K. Specifically, with respect to our drug candidates Phenserine, Posiphen(TM) and BisNorCymserine, Axonyx cannot assure that: any preclinical studies or clinical trials, whether ongoing or conducted in the future, will prove successful, and if successful, that the results can be replicated; safety and efficacy profiles of any of its drug candidates will be established, or if established, will remain the same, be better or worse in future clinical trials, if any; pre-clinical results related to cognition and the regulation of beta-APP will be substantiated by ongoing or future clinical trials, if any, or that any of its drug candidates will be able to improve the signs or symptoms of their respective clinical indication or slow the progression of Alzheimer's disease; any of its drug candidates will support an NDA filing, will be approved by the FDA or its equivalent, or if approved, will prove competitive in the market; or that Axonyx will have or obtain the necessary financing to support its drug development programs. Axonyx cannot assure that it will be successful with regard to identifying (sub-) licensing partner(s) for any of its compounds, or that any such partner will successfully develop or commercialize any such compound. Axonyx undertakes no obligation to publicly release the result of any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.