Alzamend Neuro announces final closing of $5M private placement
Alzamend Neuro's Financing: Alzamend Neuro has successfully completed a $5 million private placement, selling Series C Convertible Preferred Stock and warrants to an investor, with the final shares purchased ahead of schedule on June 13, 2025.
Clinical Trials Funding: The funds raised will support five Phase II clinical trials for AL001 "Lithium in Brain" Studies at Massachusetts General Hospital, with the first trial initiated in May 2025 and additional trials planned for later in 2025.
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Alzamend Neuro Completes Clinical Phase of Phase II Trial for AL001 "Lithium in Brain" at Massachusetts General Hospital
Clinical Trial Completion: Alzamend Neuro has completed the clinical portion of its Phase II trial for AL001, a novel lithium-delivery system, aimed at improving treatment for Alzheimer's, bipolar disorder, major depressive disorder, and PTSD.
Innovative Imaging Technology: The trial utilized a unique head coil technology for high-resolution lithium imaging, allowing for precise quantification of lithium in the brain, which may lead to better therapeutic efficacy and reduced side effects compared to conventional lithium salts.
Potential for Improved Safety: AL001 is designed to deliver lithium effectively while minimizing systemic exposure, potentially eliminating the need for therapeutic drug monitoring (TDM) and reducing risks of kidney and thyroid complications associated with traditional lithium treatments.
Future Developments: Alzamend plans to report topline data in the first quarter of 2026 and aims to initiate further Phase II clinical trials next year, building on the promising results of AL001's safety and efficacy profile.
EXCLUSIVE: Alzamend Completes Clinical Phase of AL001 Study In Healthy Volunteers
Clinical Study Completion: Alzamend Neuro has completed the clinical portion of its first Phase 2 study of AL001, a novel oral therapeutic for Alzheimer's and other disorders, with topline data expected in early 2026.
Innovative Drug Delivery: AL001 aims to provide a safer lithium delivery system, potentially reducing systemic side effects and eliminating the need for frequent therapeutic drug monitoring, which is a challenge with traditional lithium salts.
Imaging Technology Utilization: The study employed advanced imaging technology to accurately quantify lithium in the brain, helping to establish optimal dosing for specific diseases.
Secondary Drug Candidate: Alzamend is also developing ALZN002, an immunotherapy targeting amyloid-beta proteins in Alzheimer's patients, with a Phase 1/2A trial already initiated to assess its safety and efficacy.
