Alzamend Neuro, a preclinical biotech developing therapies for Alzheimer's disease, filed on Monday with the SEC to raise up to $12 million in an initial public offering.
Lead candidate AL001 is an ionic cocrystal of lithium for the treatment of Alzheimer’s and other neurodegenerative diseases and psychiatric disorders such as bipolar disorder, depression, and post-traumatic stress disorder (PTSD). Licensed from the University of South Florida, Alzamend expects to submit an IND for AL001 by the end of the 2Q21, and plans to pursue review under the 505(b)(2) pathway. Second candidate AL002 is a cell-based therapeutic vaccine in preclinical studies designed to elicit an immune response and prevent the build-up of plaque deposits in Alzheimer’s patients.
The Tampa, FL-based company was founded in 2016 and plans to list on the Nasdaq under the symbol ALZN. Spartan Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
