Venture Report: Clinical plays Alzheon, Bright Peak raise growth capital

Three companies raised large venture rounds to progress their lead candidates into the clinic or late-stage testing. The biggest was the $100 million series E round raised by neurology play Alzheon.

The deal, led by Alerce Medical Technology Partners, provides Massachusetts-based Alzheon Inc. with the capital necessary to complete the Phase III APOLLOE4 study of valiltramiprosate (ALZ-801) to treat early-stage Alzheimer’s disease patients. With data expected this year, the financing will also support regulatory submissions, manufacturing and early commercial launch preparations as early as next year for the oral small molecule inhibitor of amyloid oligomer formation. The company is testing the therapy in patients carrying two copies of the genetic risk factor APOE4, whose are not well-served by the leading anti-amyloid mAbs; safety events in the subgroup have often led to pauses in dosing that in turn have limited mAb efficacy...