Alzeca Biosciences, Inc., a Houston-based early-stage healthcare diagnostic company focused on developing novel MRI-based targeted imaging agents for the early diagnosis of Alzheimer’s disease and other neurodegenerative disorders, closed an $11m Series A financing.
With the transaction, Peter J. Werth, Jr., President and Chief Executive Officer of Chemwerth, Inc., and Navneet Puri, Ph.D., Founder and Chief Executive Officer of Nevakar, LLC, joined the Alzeca Board of Directors.
Led by Carlo Medici, CEO, Alzeca leverages proprietary technology based on nanoparticles that specifically bind to abnormal proteins that accumulate in the brain years before significant cognitive symptoms appear. The company’s imaging agents would provide a new opportunity for widely available diagnosis and screening for these important diseases.
Alzeca will use the funds to advance the development of its ADx nanoparticle, a magnetic resonance imaging (MRI) contrast agent targeting amyloid plaques, through Phase 1 human clinical trials. Amyloid is one of the key brain proteins associated with Alzheimer’s disease and other neurodegenerative conditions. Additionally, the new funding will enable the company to accelerate development of MRI-based imaging agents targeting other abnormal brain proteins associated with Alzheimer’s disease and other causes of dementia, including chronic traumatic encephalopathy (CTE).