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Home Industry News Pharmaceutical Alzheon Obtains $100M to Progress Alzeimer Therapy
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Alzheon Obtains $100M to Progress Alzeimer Therapy

13th June 2024

This extra investment occurs after the business secured $50 million in 2022 during a Series D financing.

With this investment of $100 million, the APOLLOE4 Phase III clinical study including 325 early-stage AD patients will be completed in order to assess the effectiveness of ALZ-801.

 

In Q3 of 2024, the research will submit its findings, and a NDA filing will come next.

The additional funding will help with product manufacturing and get ready for ALZ-801’s possible commercial debut as an initial oral Alzheimer’s disease-modifying treatment.

A two-year, 84 patient Phase II biomarker trial that was finished in the second part of 2023 also assessed ALZ-801.

Alzheon founder, president and CEO Martin Tolar commented: “Alzheon has experienced tremendous progress in the past year and the promise of our novel oral Alzheimer’s treatment, ALZ-801, has attracted prominent institutional and private investors.

He continued: “Our ability to raise $150m over the last two financing rounds in the current climate speaks volumes about the prospects of our innovative science and technology.’’

“Our well-differentiated drug candidate with a favourable safety profile, showing no increased risk of vasogenic brain oedema in more than 3,000 AD patients, is positioned to potentially become the first oral disease-modifying therapy for the treatment of Alzheimer’s disease.”

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