Elan is building on its breakthrough research and extensive experience in Alzheimer's disease and is also studying other neurodegenerative
disorders, such as Parkinson's disease. Two of Elan's compounds from the Alzheimer's disease immunotherapy program, in collaboration
with Wyeth, are currently progressing through clinical trials. Dosing of patients with ACC-001 in a Phase I clinical trial
began in the third quarter of 2005. Phase II trials of the humanized monoclonal antibody AAB-001, designed and engineered
to remove the neurotoxic beta-amyloid peptide that accumulates in the brains of patients with Alzheimer's disease, began in
the first half of 2005.
As it emerges from a challenging period, Elan Corporation remains committed to filling significant unmet medical needs by
bringing scientific innovations in science to market. Its proprietary NanoCrystal technology offers substantial patient benefit,
and its research in the areas of inflammatory and neuropathic pain, autoimmune diseases, and neurology hold promise to relieve
Paradoxically, the company's challenges also have spawned broader growth in the Irish biopharmaceuticals industry. Former
Elan executives have launched new companies such as Azur Pharm Limited, AGI Therapeutics Limited, Merrion Pharmaceuticals,
Inc., PharmaPlaz, PK Pharma Innovations Limited, InfoSight Corporation, BioClin Research Laboratories, and a venture fund
and a life sciences law practice. Focused on a range of services ranging from new therapeutic areas to drug delivery and analytical
support services, these companies are contributing to the strengthening of the biopharmaceuticals sector in Ireland.