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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C.&#160;&#160;20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
of Report (Date of earliest event reported) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;August 28,
2009</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">APPLIED
NEUROSOLUTIONS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of Registrant as Specified in its Charter)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;Delaware&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;001-13835&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;39-1661164</font></font></div>
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or Other Jurisdiction&#160;&#160;&#160;&#160;&#160;(Commission file
Number)&#160;&#160;&#160;&#160;(IRS Employer</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;of&#160;&#160;Incorporation)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Identification
No.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;50
Lakeview Parkway, Suite 111, Vernon Hills,
IL&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;60061</font></font></div>
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of Principal Executive
Offices)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(Zip
Code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
telephone number, including area code <font style="DISPLAY: inline; TEXT-DECORATION: underline">(847)
573-8000</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</font></div>
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></div>
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section
      5</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Corporate
      Governance and Management</font></div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
5.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On August 28, 2009, the Registrant and
Craig S. Taylor, Ph.D. agreed to the terms of his employment as President and
CEO, and a member of the Registrant&#8217;s Board of Directors (the
&#8220;Board&#8221;).&#160;&#160;Dr. Taylor&#8217;s employment will commence on September 1, 2009,
as will his appointment as the President and CEO and as a director.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Dr. Taylor will receive a base salary
of $250,000 per annum plus a bonus of up to 50% of his base salary, as
determined by the compensation committee of the Board, which bonus, if any, may
be paid either in cash or a combination of cash and stock.&#160;&#160;Dr.
Taylor&#8217;s base salary and bonus will be pro-rated for the remainder of
2009.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Dr. Taylor will be granted a stock
option to purchase shares equal to 4.0% of the Registrant&#8217;s issued and
outstanding common stock at an exercise price equal to the closing price of the
Registrant&#8217;s common stock on the over-the-counter market on September 1, 2009
(the first day of his employment).&#160;&#160;The option will vest in one-third
installments on September 1, 2010, 2011 and 2012 (the first, second and third
anniversaries of the commencement of Dr. Taylor&#8217;s employment).&#160;&#160;The
Registrant has agreed to adjust Dr. Taylor&#8217;s stock options to maintain his
ability to purchase 4.0% of the issued and outstanding common stock in the event
that Dr. Taylor&#8217;s options are diluted by shares that are issued or issuable as a
result of securities sold in any fund raising by the Registrant during
2009.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
Taylor is an accomplished healthcare executive with a broad range of leadership
experience including the following areas: diagnostic and drug development,
alliance management, licensing and project management.&#160;&#160;Dr. Taylor was
working as a management consultant prior to employment at the Registrant, and
also worked as a management consultant from 1994 to 1996.&#160;&#160;He was the
CEO of a small private biotech company from 2007 to 2008.&#160;&#160;Prior to
his tenure at Adams Street Partners, LLC where he was Partner, Direct Venture
Capital Investments from 2000 to 2006, Dr. Taylor served as Associate Director
of Business development for G.D. Searle (now part of Pfizer) from 1996 to
2000.&#160;&#160;Prior to joining Searle in a business capacity, he served as a
Senior Research Biochemist, Project Manager at Abbott Laboratories (NYSE: ABT)
in the Diagnostic Division from 1990 to 1993.&#160;&#160;Dr. Taylor&#8217;s career has
blended his scientific and business experience, building from his formal
education, having earned both a Ph.D. at Georgetown University, School of
Medicine and an MBA from the University of Chicago, Booth School of
Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of
the Registrant&#8217;s press release regarding the appointment of Dr. Taylor as
President, CEO and a director is attached as Exhibit 99.1.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section
9 &#8211; Financial Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01&#160;&#160;&#160;Financial Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
release dated September 1, 2009</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized on this 1st day of September 2009.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;APPLIED
NEUROSOLUTIONS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;/s/David
Ellison</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Name:&#160;&#160;David
Ellison</font></div>
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Chief Financial Officer</font></div><br>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -15.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Applied
NeuroSolutions Appoints Craig Taylor, as President &amp; CEO</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Former
Abbott Scientist and Searle Business Executive to Lead the Company</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vernon Hills, IL</font> September 1,
2009 - Applied NeuroSolutions, Inc. (OTC BB:APSN, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.AppliedNeuroSolutions.com</font>),
a biotechnology company focused on the development of products for the early
diagnosis and treatment of Alzheimer&#8217;s disease (&#8220;AD&#8221;), today announced the
appointment of Craig S. Taylor, Ph.D. as its President, CEO and a member of its
Board of Directors, replacing Ellen R. Hoffing&#160;&#160;who stepped down as
President and CEO on August 28, 2009 (but who will remain our Chairman of the
Board).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
Taylor is an accomplished healthcare executive with a broad range of leadership
experience including the following areas: diagnostic and drug development,
alliance management, licensing and project management.&#160;&#160;Prior to his
tenure at Adams Street Partners, LLC where he was Partner, Direct Venture
Capital Investments, Dr. Taylor served as Associate Director of Business
development for G.D. Searle (now part of Pfizer).&#160;&#160;Prior to joining
Searle in a business capacity, he served as a Senior Research Biochemist,
Project Manager at Abbott Laboratories (NYSE: ABT) in the Diagnostic
Division.&#160;&#160;Dr. Taylor&#8217;s career has blended his scientific and business
experience, building from his formal education, having earned both a Ph.D. at
Georgetown University, School of Medicine and an MBA from the University of
Chicago, Booth School of Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commenting
on the appointment, Ellen Hoffing, APNS Chairman of the Board said, &#8220;We are
pleased to welcome Craig to APNS and are confident that he has the technical and
business skill sets to lead APNS through our next stage of serum diagnostic
development and pharmaceutical partnering.&#160;&#160;His hands on background in
diagnostics, licensing and project management, directed at developing and
commercializing both diagnostic and pharmaceutical products, should be extremely
valuable as we continue advancing our serum diagnostic program, and the related
licensing and partnership arrangements, towards commercial success.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
reaction to his new role Craig added, &#8220;I am excited to be joining APNS with its
promising portfolio of innovative technologies focused on improving the lives of
people suffering from Alzheimer's disease.&#160;&#160;I look forward to working
with Eli Lilly and Company on our drug development collaboration and to continue
advancing the Company&#8217;s serum diagnostic development program to
commercialization.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Applied NeuroSolutions:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Applied
NeuroSolutions, Inc. (OTC BB:<font style="DISPLAY: inline; TEXT-DECORATION: underline">APSN</font> - <font style="DISPLAY: inline; TEXT-DECORATION: underline">News</font>) is developing
diagnostics and therapeutics to detect and treat Alzheimer's disease (AD)
building on discoveries originating from the Albert Einstein College of
Medicine.&#160;&#160;Applied NeuroSolutions is in a collaboration with Eli Lilly
and Company to develop novel therapeutic compounds to treat the progression of
AD.&#160;&#160;For its diagnostic pipeline, Applied NeuroSolutions is focused on
both serum and cerebrospinal fluid (CSF) tests to detect AD at a very early
stage.&#160;&#160;The CSF based 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.&#160;&#160;Alzheimer's disease currently
afflicts over five million Americans, and the world market for AD therapy is
currently estimated to be nearly 30 million patients.&#160;&#160;For more
information, visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.AppliedNeuroSolutions.com</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Contact:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Applied
NeuroSolutions, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">David
Ellison, CFO, 847-573-8000</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
press release contains forward-looking statements. Applied NeuroSolutions 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 <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.AppliedNeuroSolutions.com</font>
, and review the company's filings with the Securities and Exchange
Commission.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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form8knewceo.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C.  20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported)
August 28,
2009
APPLIED
NEUROSOLUTIONS, INC.
(Exact
name of Registrant as Specified in its Charter)
Delaware                                   001-13835                                  39-1661164
(State
or Other Jurisdiction     (Commission file
Number)    (IRS Employer
of  Incorporation)                                                           Identification
No.)
50
Lakeview Parkway, Suite 111, Vernon Hills,
IL                               60061
(Address
of Principal Executive
Offices)                                             (Zip
Code)
Registrant's
telephone number, including area code
(847)
573-8000
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
|_|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
|_|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Section
      5
Corporate
      Governance and Management
Item
5.02
Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On August 28, 2009, the Registrant and
Craig S. Taylor, Ph.D. agreed to the terms of his employment as President and
CEO, and a member of the Registrant's Board of Directors (the
"Board").  Dr. Taylor's employment will commence on September 1, 2009,
as will his appointment as the President and CEO and as a director.
Dr. Taylor will receive a base salary
of $250,000 per annum plus a bonus of up to 50% of his base salary, as
determined by the compensation committee of the Board, which bonus, if any, may
be paid either in cash or a combination of cash and stock.  Dr.
Taylor's base salary and bonus will be pro-rated for the remainder of
2009.
Dr. Taylor will be granted a stock
option to purchase shares equal to 4.0% of the Registrant's issued and
outstanding common stock at an exercise price equal to the closing price of the
Registrant's common stock on the over-the-counter market on September 1, 2009
(the first day of his employment).  The option will vest in one-third
installments on September 1, 2010, 2011 and 2012 (the first, second and third
anniversaries of the commencement of Dr. Taylor's employment).  The
Registrant has agreed to adjust Dr. Taylor's stock options to maintain his
ability to purchase 4.0% of the issued and outstanding common stock in the event
that Dr. Taylor's options are diluted by shares that are issued or issuable as a
result of securities sold in any fund raising by the Registrant during
2009.
Dr.
Taylor is an accomplished healthcare executive with a broad range of leadership
experience including the following areas: diagnostic and drug development,
alliance management, licensing and project management.  Dr. Taylor was
working as a management consultant prior to employment at the Registrant, and
also worked as a management consultant from 1994 to 1996.  He was the
CEO of a small private biotech company from 2007 to 2008.  Prior to
his tenure at Adams Street Partners, LLC where he was Partner, Direct Venture
Capital Investments from 2000 to 2006, Dr. Taylor served as Associate Director
of Business development for G.D. Searle (now part of Pfizer) from 1996 to
2000.  Prior to joining Searle in a business capacity, he served as a
Senior Research Biochemist, Project Manager at Abbott Laboratories (NYSE: ABT)
in the Diagnostic Division from 1990 to 1993.  Dr. Taylor's career has
blended his scientific and business experience, building from his formal
education, having earned both a Ph.D. at Georgetown University, School of
Medicine and an MBA from the University of Chicago, Booth School of
Business.
A copy of
the Registrant's press release regarding the appointment of Dr. Taylor as
President, CEO and a director is attached as Exhibit 99.1.
Section
9 – Financial Statements and Exhibits
Item
9.01   Financial Statements and Exhibits
(d)         Exhibits.
99.1           Press
release dated September 1, 2009
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized on this 1st day of September 2009.
APPLIED
NEUROSOLUTIONS, INC.
By:
/s/David
Ellison
Name:  David
Ellison
Title:   
Chief Financial Officer
Applied
NeuroSolutions Appoints Craig Taylor, as President & CEO
Former
Abbott Scientist and Searle Business Executive to Lead the Company
Vernon Hills, IL
September 1,
2009 - Applied NeuroSolutions, Inc. (OTC BB:APSN,
www.AppliedNeuroSolutions.com
),
a biotechnology company focused on the development of products for the early
diagnosis and treatment of Alzheimer's disease ("AD"), today announced the
appointment of Craig S. Taylor, Ph.D. as its President, CEO and a member of its
Board of Directors, replacing Ellen R. Hoffing  who stepped down as
President and CEO on August 28, 2009 (but who will remain our Chairman of the
Board).
Dr.
Taylor is an accomplished healthcare executive with a broad range of leadership
experience including the following areas: diagnostic and drug development,
alliance management, licensing and project management.  Prior to his
tenure at Adams Street Partners, LLC where he was Partner, Direct Venture
Capital Investments, Dr. Taylor served as Associate Director of Business
development for G.D. Searle (now part of Pfizer).  Prior to joining
Searle in a business capacity, he served as a Senior Research Biochemist,
Project Manager at Abbott Laboratories (NYSE: ABT) in the Diagnostic
Division.  Dr. Taylor's career has blended his scientific and business
experience, building from his formal education, having earned both a Ph.D. at
Georgetown University, School of Medicine and an MBA from the University of
Chicago, Booth School of Business.
Commenting
on the appointment, Ellen Hoffing, APNS Chairman of the Board said, "We are
pleased to welcome Craig to APNS and are confident that he has the technical and
business skill sets to lead APNS through our next stage of serum diagnostic
development and pharmaceutical partnering.  His hands on background in
diagnostics, licensing and project management, directed at developing and
commercializing both diagnostic and pharmaceutical products, should be extremely
valuable as we continue advancing our serum diagnostic program, and the related
licensing and partnership arrangements, towards commercial success.
In
reaction to his new role Craig added, "I am excited to be joining APNS with its
promising portfolio of innovative technologies focused on improving the lives of
people suffering from Alzheimer's disease.  I look forward to working
with Eli Lilly and Company on our drug development collaboration and to continue
advancing the Company's serum diagnostic development program to
commercialization."
About
Applied NeuroSolutions:
Applied
NeuroSolutions, Inc. (OTC BB:
APSN
-
News
) 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 its diagnostic pipeline, Applied NeuroSolutions is focused on
both serum and cerebrospinal fluid (CSF) tests to detect AD at a very early
stage.  The CSF based 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 nearly 30 million patients.  For more
information, visit
www.AppliedNeuroSolutions.com
Contact:
Applied
NeuroSolutions, Inc.
David
Ellison, CFO, 847-573-8000
This
press release contains forward-looking statements. Applied NeuroSolutions 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.
###