AlzProtect raises EUR 2 million in series A financing
AlzProtect, a biopharmaceutical company involved in the development of new therapeutic solutions in the neurodegenerative diseases area, announced the completion of a €2 million Series A financing round. This round of €2 million gathered some historical shareholders (Finovam and Nord France Amorçage) and private investors. This round has been matched by an additional €1 million support from Bpifrance in the form of subsidies and refundable advance payments.
The funding raised will allow AlzProtectto accelerate the development of its drug candidate AZP2006 by financing a first clinical trial with healthy volunteers. This first study should be followed by a Phase 2 in the field of the frontotemporal dementia (FTD), which is in some ways similar to Alzheimer’s disease. The FTD is particularly invalidating and remain orphan of any treatment.
The drug candidate AZP2006 acts on the main characteristics of the represented neurodegenerative diseases, in the case of the Alzheimer's disease, by the toxic forms derived of proteins Tau and APP (Amyloid Precursor Protein). The proof-of-concept studies on animal models demonstrated protective and preventive effects on the one or the other way of induction (APP or Tau) by revealing very encouraging harmlessness characteristics. So AZP2006 should enter Phase I of clinical trials during summer, 2014. Its therapeutic potential would afterward be widened in other major pathologies linked to the neuronal death.
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