CLARKSVILLE, MD--(Marketwired - Apr 6, 2015) - Neuronascent, a biopharmaceutical company developing non-invasive, neuron regenerative therapeutics aimed at reversing cognitive deficits in Alzheimer's disease, today announced the closing of a round of financing for up to $1.2 million. Neuronascent's human neuronal progenitor-based discovery platform identified a number of novel orally-available therapeutics that promote new neuron generation at the same time inhibiting loss of neurons. Proceeds from this first institutional investment will allow the development of Neuronascent's lead Alzheimer's candidate, NNI-362, to the point of first-in-human clinical testing. The Company expects to complete all IND-enabling studies in 2015, with the considerable support of the National Institute of Aging's (NIA) Alzheimer's Disease Translational Research Program.
"With the landscape littered with failed Alzheimer's therapeutics, this investment for the development of NNI-362, that actually reversed cognitive impairment in two separate pre-clinical models of Alzheimer's disease, should allow Neuronascent to deliver this first-in-class, neuron replacement therapy into clinical testing," said Neuronascent's President and CEO Dr. Judith Kelleher-Andersson. "Furthermore, the need for effective and safe therapies for chronic neurodegenerative disorders, such as Alzheimer's disease, cannot be overstated and our patented therapeutic aims to go beyond the traditional neuroprotective therapies, by producing new neurons to replace those lost due to the disease for the first time, and to ensure these new neurons survive to maturation."
About NNI-362
Neuronascent's new chemical entity is capable of entering the brain and increasing the number of new neurons that survive to maturity, which is associated with a reversal in cognitive deficits in animal models of Alzheimer's disease. NNI-362 is in FDA-required safety testing prior to testing in Alzheimer's patients for its ability to reverse cognitive deficits by the replacement of neurons lost in the hippocampus of the brain.
About Neuronascent
Neuronascent, Inc. is an IND-enabling stage biopharmaceutical company that discovers and develops orally available, novel therapeutics aimed at halting or reversing chronic neurological disorders affecting tens of millions of people worldwide, including Alzheimer's disease, Down syndrome and Parkinson's disease. Following a unique discovery platform used to identify novel agents that promote new neurons and ensure their survival and maturation, the Company initiated efficacy and safety studies required prior to human testing. Neuronascent has completed a pre-IND meeting with the FDA concerning its neuron regenerative agent for Alzheimer's disease, NNI-362.
Safe Harbor Statement
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations.
Contact Information:
CONTACT
Judith Kelleher-Andersson, Ph.D.
CEO
1-240-876-7496