Alzheon, Inc., a Framingham, Mass.-based clinical-stage biopharmaceutical company focused on brain health, memory and aging, closed a $10m Series A financing round.
The round was led by Ally Bridge Group with participation from other new and existing investors.
The company intends to use the funds to advance its lead drug candidate, ALZ-801, an oral, small molecule, first-in-class inhibitor of amyloid formation and neurotoxicity, toward completion of the clinical and regulatory studies for initiation of a potential pivotal clinical study in Alzheimer’s disease in the near future.
Led by Martin Tolar, M.D., Ph.D., Founder, President and Chief Executive Officer, Alzheon is a clinical-stage biotechnology company focused on brain health, memory and aging, which develops innovative treatments for Alzheimer’s disease and other neurological and psychiatric disorders. Its lead product candidate, ALZ-801, is an oral small molecule inhibitor of amyloid aggregation and neurotoxicity with potential to be a first-in-class therapy for a genetically defined population of patients with or at high risk for Alzheimer’s disease.