AltPep secures $53M in funding to advance novel Alzheimer’s, Parkinson’s therapeutics
Click Here to Manage Email Alerts
A Seattle-based biotechnology company announced completion of a $52.9 million Series B financing round to advance clinical trials of novel therapeutics for Alzheimer’s and Parkinson’s diseases.
According to a release from AltPep Corp., proceeds will accelerate the company’s Sobin therapeutics into phase 1 clinical trials for AD and PD and promote its first Soba diagnostic, which was previously granted breakthrough designation, toward FDA clearance. Soba diagnostics are sensitive, simple blood tests designed for early detection and diagnosis of amyloid diseases.
“This new funding bolsters our efforts to bring early detection and treatment to patients with Alzheimer’s and Parkinson’s diseases,” Valerie Daggett, PhD, founder and CEO of AltPep, said in the release. “AltPep continues to reach significant milestones, including recent preclinical in vivo data demonstrating an improvement in cognitive deficits with our lead compound for Alzheimer’s disease. Also, our Soba assay targeting toxic oligomers, which are early molecular triggers of disease, shows great potential for detection of Alzheimer’s disease.”