Scoop: Biotech developing oral Alzheimer's drug is on $50M hunt
A biotech attempting to develop an oral drug for patients with Alzheimer’s disease is currently raising a Series E.
The drug developer, Alzheon, disclosed a $50 million Series D last April and a $47 million grant from the National Institute on Aging in 2020, which came after back-to-back IPO attempts. The startup withdrew its Wall Street ambitions in 2018 and again in 2019.
CEO Martin Tolar confirmed to Endpoints News via email that the biotech is raising a Series E. Alzheon is in search of $50 million, according to an SEC filing posted Thursday.
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