Framingham biopharma company raises $100M for Alzheimer’s treatment
Image | Courtesy of Google Maps
Alzheon headquarters in Framingham
Alzheon, a Framingham-based biopharmaceutical company, has raised $100 million in Series E financing to advance development and the commercial launch of an oral tablet aiming to treat early Alzheimer’s disease.
The oral tablet, known as ALZ-801 or Valiltramiprosate, intends to block the formation of neurotoxic molecules in the brain believed to be drivers of the disease. The treatment has shown potential for robust efficiency in high-risk Alzheimer’s disease populations, according to a press release announcing the funding issued by Alzheon on Wednesday.
“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. Our ability to raise $150 million over the last two financing rounds in the current climate speaks volumes about the prospects of our innovative science and technology,” Dr. Martin Tolar, founder, president, and CEO of Alzheon, said in the press release.
The funding comes after a 2022 Series D financing round where the company raised $50 million for development of ALZ-801. The company reported promising results for the treatment in September. The U.S. Food and Drug Administration gave the treatment fast-track designation in 2017.
ALZ-801 is being evaluated in two clinical trials involving early Alzheimer’s disease subjects. Alzheon is aiming for commercial launch of the treatment in the United States during 2025.
WBJ Web Partners
Most Recent
Most Recent
0 Comments