Alzeca raises $11M in series A
Diagnostic imaging play Alzeca Biosciences Inc. (Houston, Texas) raised $11 million in a series A round. The round included $8 million in new money and $3 million through the conversion of convertible notes. ChemWerth Inc. (Woodbridge, Conn.) President and CEO Peter Werth was the lead investor in the round and will be joining Alzeca's board. Existing investor Dolby Family Ventures also participated.
Founded in 2011, Alzeca is developing an MRI-based imaging agent, ADx, for the early diagnosis of Alzheimer's disease and other neurodegenerative disorders based on technology from Ananth Annapragada's lab at the University of Texas Health Science Center (UT Health). Annapragada, Alzeca's chief scientist and a director, is now based at Texas Children's Hospital...