NEW YORK, NY -- (MARKET WIRE) -- 03/01/07 -- The Alzheimer's Drug Discovery Foundation (ADDF), a biomedical venture philanthropy founded by the Estée Lauder family, and Elan Pharmaceuticals, Inc., a neuroscience-based biotechnology company, are pleased to announce the winners of their second annual research award program, Novel Approaches to Drug Discovery for Alzheimer's Disease. Six recipients were selected from a highly competitive pool of 32 scientists from 6 countries

The award winners are: Yousef Al-Abed, PhD, Associate Investigator and Director at the North Shore-Long Island Jewish Research Institute; John Cashman, PhD, Executive Director and Founder of the Human Biomolecular Research Institute; Donald Porter, PhD, Senior Scientist at Senex Biotechnology, Inc.; Juan Sanchez-Ramos MD, PhD, Professor of Neurology at the University of South Florida; D. Martin Watterson, PhD, Professor at Northwestern University Medical School; and Michael S. Wolfe, PhD, Associate Professor of Neurology at Brigham and Women's Hospital, Harvard Medical School, Center for Neurologic Diseases. The recipients were chosen by an independent scientific review panel of 10 experts chaired by ADDF Executive Director Howard Fillit, MD, a leading geriatrician and neuroscientist.

According to Dr. Fillit, "These awardees are conducting innovative research in Alzheimer's drug discovery. Their programs were recognized as most promising to advance the discovery of effective disease-modifying drugs for Alzheimer's. Thanks to our collaboration with Elan, we are delighted to present grant awards totaling $520,000 for this year's program."

The scientists received their awards at a recent luncheon held at the St. Regis Hotel in San Francisco, CA. Ms. Nancy Cozine, ADDF President; and Dr. Lars Ekman, Elan Executive Vice President and President, Global R&D, welcomed an audience of over 35 distinguished guests to celebrate the second annual ADDF/Elan Alzheimer's Disease Drug Discovery Awards and to recognize the recipients. During the luncheon, Ms. Cozine and Dr. Ekman both commented on the importance of this program and the ongoing need to accelerate the discovery of effective drugs to conquer this devastating disease, which impacts one in ten individuals over age 65.

Dr. Ekman stated, "Elan's collaboration with the ADDF underscores our commitment to bringing new therapeutic options to Alzheimer's patients and their caregivers. We are dedicated to working together to make tangible progress in the fight against Alzheimer's. For that reason, we are proud to support the work of this year's award recipients."

For more information regarding this unique public charity-corporate alliance research program, contact Howard Fillit, MD, at 212-935-2402 or hfillit@alzdiscovery.org.

About the Alzheimer's Drug Discovery Foundation (ADDF)

The Alzheimer's Drug Discovery Foundation (ADDF) is the only public charity solely dedicated to rapidly accelerating the discovery and development of drugs to prevent, treat and cure Alzheimer's disease and cognitive aging. To date, we have awarded $27.3 million for 183 global research programs and conferences. For more information, visit www.AlzDiscovery.org.

About Elan Pharmaceuticals, Inc.

Elan Pharmaceuticals, Inc. is a wholly-owned subsidiary of Elan Corporation, plc (NYSE: ELN). Elan is a neuroscience-based biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Our effort to develop treatment alternatives for patients and caregivers suffering from Alzheimer's disease includes research programs focused on modifying or halting the progression of the disease. Two programs that are currently in clinical development are immunotherapeutic approaches, in partnership with Wyeth, and a small molecule program, in collaboration with Transition Therapeutics. For additional information about the company, please visit http://www.elan.com.

AADDF Contact:
Suzanne Grossberg
Director of External Affairs
(212)901-8008
sgrossberg@alzdiscovery.org