As of January 25, 2007, GlobePan Resources Inc. was acquired by Intellect USA, Inc. Intellect Neurosciences, Inc., a biopharmaceutical company, engages in the research and development of drugs primarily for the treatment of Alzheimer’s disease. It also focuses on the development of drugs for the treatment of major disorders of the central nervous system, such as Parkinson’s disease, Huntingdon’s disease, Creutzfeld-Jacob disease, stroke, ischemia, and other diseases associated with oxidative stress. The company’s principal products under development include OXIGON, a Phase I clinical trials completed drug candidate, which is a chemically synthesized form of dual mode of action for the clearance of amyloid beta toxin away from the brain and reduce its toxicity; ANTISENILIN, a monoclonal therapeutic antibody; and RECALL-VAX and BETA-VAX, which are vaccination products. The company was founded in 2005 and is headquartered in New York, New York.