Alzheon proposes IPO
Alzheon Inc. (Framingham, Mass.) proposed to raise up to $80.5 million on March 16 in an IPO on NASDAQ underwritten by Citigroup, Piper Jaffray, Canaccord Genuity and JMP Securities.
Alzheon plans to start a Phase III trial this year of lead candidate ALZ-801, an oral small molecule prodrug of tramiprosate, to treat Alzheimer's disease. Alzheon obtained rights to ALZ-801 in 2013 from Bellus Health Inc. (TSX:BLU), whose Alzhemed tramiprosate failed in Phase III testing for the indication. Alzheon said in 2015 that a subgroup analysis from two completed Phase III studies showed the candidate improved cognition in patients homozygous for apolipoprotein E epsilon 4 (APOE4) (see BioCentury, Nov. 25, 2013)...