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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