Acumen Pharmaceuticals, a Phase 1 biotech developing a monoclonal antibody for Alzheimer's disease, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Acumen Pharmaceuticals believes it is developing a novel approach to Alzheimer's disease (AD) by targeting soluble amyloid-beta oligomers, which are globular assemblies of amyloid-beta that the company believes are a key underlying cause of the disease. The company's lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. ACU193 entered a Phase 1 trial in patients with mild dementia or cognitive impairment due to AD in the 2Q21, with data expected in the 4Q22.
The Charlottesville, VA-based company was founded in 1996 and plans to list on the Nasdaq under the symbol ABOS. BofA Securities, Credit Suisse, Stifel, and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
