Alzheon files for $80M IPO to take once-failed Alzheimer's drug in­to PhI­II

A com­pa­ny based just out­side Boston is join­ing the pa­rade to the pub­lic mar­kets, hop­ing to raise $80.5 mil­lion to de­vel­op an Alzheimer’s drug that’s a true Hail Mary, con­sid­er­ing the field’s re­cent im­plo­sions.

The drug­mak­er, Alzheon, filed a no­tice with the SEC sig­nal­ing its up­com­ing IPO, but the com­pa­ny might need more cash than it can raise in this round. Back in 2016, Alzheon’s CEO Mar­tin To­lar told End­points News the com­pa­ny would need more like $100 mil­lion to pay for two Phase III stud­ies for its lead drug — and that would be a bar­gain com­pared to most late-stage Alzheimer’s pro­grams.

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