Probiodrug announces IPO plans

Alzheimer's disease company Probiodrug AG (Halle/Saale, Germany) said it plans to file for an IPO on Euronext Amsterdam. It did not disclose how much it plans to raise.

Probiodrug's lead candidate is PQ912, a glutaminyl cyclase (QC) inhibitor. The company plans to begin enrolling a Phase II trial of the compound to treat AD in 1Q15. Pyroglutamated beta amyloid, which is produced from QC, has been correlated with cognitive decline in individuals with AD, according to the company. ...