Applied NeuroSolutions Q1 2008 Alzheimer's Disease Diagnostic Development Programs...

Applied NeuroSolutions Q1 2008 Alzheimer's Disease Diagnostic Development Programs Update

VERNON HILLS, Ill.--(Business Wire)--
Applied NeuroSolutions, Inc. (OTCBB:APNS)
(www.AppliedNeuroSolutions.com), a Company focused on the development
of products for the early diagnosis and treatment of Alzheimer's
disease ("AD"), recently announced its financial results for the
quarter ended March 31, 2008 and today provides highlights on its
development program for Q1. The Company has achieved its Q1 diagnostic
program milestone and is on-track to meet its upcoming milestones.

Pipeline Overview

The Company's diagnostic focus in Q1 was to achieve program
milestones advancing its AD diagnostic programs. APNS has targeted its
R&D spend to its serum-based diagnostic tests with clearly defined
2008 milestones listed below.

-- Q1 Achieved Milestone: Total-tau "rule out" test tools
identified

-- Q2 Upcoming Milestone: P-tau 231 "rule in" test tools
identified

-- Q4 Upcoming Milestone: Serum "rule out" and "rule in" test
feasibility

Diagnostic Partnerships

The Company's strategy to optimize the development of a
serum-based diagnostic includes identification of an external partner
that can leverage APNS's proprietary tools. As part of this effort,
APNS has conducted initial technology assessments and identified
potential partners that meet the company's criteria. As a next step,
APNS will collaborate with these technology companies to establish the
serum test's feasibility.

Offering of P-tau 231 Test for Use in AD Clinical Trials

Leveraging the growing body of scientific evidence, including 21
peer-reviewed articles in leading neurology and other scientific
journals, APNS initiated a program to offer the P-tau 231
cerebrospinal fluid test to pharmaceutical, biotechnology, and imaging
companies. Given the substantial investment required to conduct
clinical trials, information provided by the P-Tau 231 test can offer
a cost-effective tool to optimize companies' AD drug development
programs. Revenue generated from providing this service would help
support the further development of Applied NeuroSolutions's diagnostic
pipeline.

Commenting on the Company's recent milestone achievements, Ellen
R. Hoffing, APNS's Chairman, President and Chief Executive Officer,
stated "I am pleased to announce we have hit our first quarter
diagnostic program milestone. With respect to our therapeutic program,
our ongoing collaboration with Eli Lilly and Company to develop novel
therapeutic compounds to treat the progression of AD also continues to
make good progress. In addition to our pipeline progress, our
initiative to generate revenue with our existing P-Tau 231 CSF test
capitalizes on the growing body of data validating P-tau 231 as an
early and highly specific AD biomarker at a time of unprecedented
activity in AD clinical trials. We look forward to continuing to meet
our milestones and ultimately playing a significant role in advancing
novel solutions for the treatment of Alzheimer's patients."

For further information please visit the company's website at
www.AppliedNeuroSolutions.com, and review the company's filings with
the Securities and Exchange Commission.

About Applied NeuroSolutions:

Applied NeuroSolutions, Inc. (OTCBB:APNS) is developing
diagnostics and therapeutics to detect and treat Alzheimer's disease
(AD) building on discoveries originating from the Albert Einstein
College of Medicine. Applied NeuroSolutions is in a collaboration with
Eli Lilly and Company to develop novel therapeutic compounds to treat
the progression of AD. For the diagnostic pipeline, Applied
NeuroSolutions is focused on both cerebrospinal fluid (CSF) and serum
tests to detect AD at a very early stage. The P-Tau 231 test now being
offered for use in clinical trials can effectively differentiate AD
patients from those with other neurological diseases that have similar
symptoms. There is currently no FDA approved diagnostic test to detect
AD. Alzheimer's disease currently afflicts over five million
Americans, and the world market for AD therapy is currently estimated
to be 30 million patients. For more information, visit
www.AppliedNeuroSolutions.com

This press release contains forward-looking statements about
Applied NeuroSolutions. The company wishes to caution the readers of
this press release that actual results may differ from those discussed
in the forward-looking statements and may be adversely affected by,
among other things, the risks associated with new product development
and commercialization, clinical trials, intellectual property,
regulatory approvals, potential competitive offerings, and access to
capital. For further information, please visit the company's website
at www.AppliedNeuroSolutions.com, and review the company's filings
with the Securities and Exchange Commission.

Applied NeuroSolutions: 847-573-8000
Ellen Hoffing, Chairman, President & CEO
David Ellison, CFO

Copyright Business Wire 2008