AZTherapies Closes $26.3 Million Series C Preferred Equity Financing
Summary
BOSTON, Oct. 17, 2019 (GLOBE NEWSWIRE) -- , a biopharmaceutical company developing therapeutics to extend brain health, today announced the closing of a $26.3 million Series C Preferred equity financing. Proceeds are also anticipated to fund ALZT-OP1 pre-commercial efforts and the continued advancement of the companys broad pipeline.We are very grateful to have such a committed group of investors who have deep expertise in CNS drug development and believe in our mission to target neuroinflammation as the root cause of serious neurodegenerative disease, said David R. Elmaleh, Ph.D., Founder, CEO, and Chairman of AZTherapies. Recognizing their unique combination of a novel scientific approach, targeting neuroinflammation and microglia, and a forward vision on providing affordable and accessible treatments, we are pleased to support AZTherapies efforts to progress what could be a breakthrough advancement for this large and greatly underserved patient population.About AZTherapiesAZTherapies is an advanced clinical-stage biopharmaceutical company developing novel therapies that aim to fundamentally change neurodegenerative disease progression, extending normal cognition and function and improving quality of life in the aging population. Our Phase 3 COGNITE trial in early Alzheimers disease is fully enrolled and expected to complete in late 2020. Following our lead program, we are advancing candidates for the treatment of post-ischemic stroke cognitive impairment, amyotrophic lateral sclerosis (ALS), and other indications.