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Neurodegenerative diseases are disorders that result in the progressive loss of structure or function of neurons, negatively impacting cognitive and physical abilities.
As per the National Institute of Neurological Disorders, around 50 million Americans are affected by over 600 neurologic disorders. And over 6 million Americans suffer from Alzheimer’s.
Drug discovery and development for neurodegenerative disorders is a complex process involving multi-stakeholders. Alzheon is an industry-leading clinical-stage biotechnology company involved in developing medicines for neurodegenerative diseases.
This article will tell you everything about Alzheon, from its startup story, founder, and products to funding, growth, investors, and plan.
Alzheon – Company Highlights
| Company Name | Alzheon |
|---|---|
| Headquarters | Framingham, Massachusetts, United States |
| Sector | Biotechnology Research |
| Founders | Martin Tolar |
| Founded In | 2013 |
| Revenue | $1.3B (2022) |
| Website | Alzheon.com |
Alzheon – About
Alzheon – Industry
Alzheon – Founders and Team
Alzheon – Startup Story
Alzheon – Mission and Vision
Alzheon – Business Model
Alzheon – Products and Services
Alzheon – Funding and Investments
Alzheon – Patents and Trademarks
Alzheon – Growth
Alzheon – Partners
Alzheon – Competitors
Alzheon – Future Plans
Alzheon – About
Alzheon is a private clinical-stage biopharmaceutical company with a Phase 3 program in Alzheimer’s disease. Moreover, it is committed to developing innovative medicines by directly addressing the underlying pathology of neurodegenerative disorders.
The company leverages its expertise in inhibiting protein misfolding and aggregation to develop these disease-modifying treatments.
Alzheon – Industry
In 2021, the global biotechnology market size was estimated to be USD 1,023.92 billion and is projected to grow at a CAGR of 13.9% from 2023 to 2030. The industry is driven by robust government support via initiatives to modernize regulatory framework, improvements in approval processes & reimbursement policies, and standardized clinical studies.
The Covid-19 pandemic positively impacted the global market by presenting increased opportunities and advancements for drug clinical research, development, and manufacturing of vaccines for diseases.
In addition to Alzheon, several other companies are involved in clinical research and developing drugs for neurodegenerative diseases. Biogen, Cleveland Clinic, Aquinnah, Genentech, Lilly, etc., are some companies supporting and conducting clinical trials for developing medicines to treat neurodegenerative diseases.
Alzheon – Founders and Team
Martin Tolar is the founder of Alzheon. He completed his Ph.D. in Neuroscience from the University of Cincinnati College of Medicine and his Residency in Neurology from Boston Medical Center. Moreover, he graduated from the University of Michigan-Stephen M. Ross in Executive Management in 2006.
He has been an active Scientific Board member and Business Advisory Board & Scientific Review Board member at The Alzheimer Foundation and Alzheimer’s Drug Discovery Foundation, respectively.
Presently, he is the president and CEO of Alzheon, Inc. In addition, Martin is the Founder and Chairman of the Executive Board of the International Neurodegenerative Disorders Research Center (INDRC).
Alzheon is a team of over 20 experienced neuroscientists, pharmacologists, drug developers, clinicians, and business leaders.
Alzheon – Startup Story
A veteran of Alzheimer’s drug programs, Martin Tolar, is the founder of Alzheon. He founded the company in July 2013. It was in April 2015 that the company completed its $10 million Series A round and used the funds to commence the Phase 1b bridging clinical program for ALZ-801. This clinical program was completed in July 2016, and in 2017, ALZ-801 received a Fast Track designation for the FDA.
The company appointed former IV AX President Neil Flanzraich, JD, as the Board of Directors Vice Chairman in August 2018. Moreover, in August 2020, the US National Institute on Aging, a part of the National Institutes of Health, awarded a $47 million grant to Alzheon over five years. This grant was given to support the Phase 3 clinical trial of ALZ-801 that started in May 2021.
Alzheon – Mission and Vision
Alcheon strives to bring transformational therapies to patients with Alzheimer’s and other devastating neurodegenerative disorders.
Alzheon – Business Model
At Alzheon, the team uses its scientific knowledge and clinical expertise to apply a precision medicine approach to individual genetic and biological information so that the company can advance in the challenging field of therapeutics for Alzheimer’s and many other neurological disorders.
Alzheon – Products and Services
ALZ-801- Alzheon’s lead investigational product- is in Phase 3 for Alzheimer’s. It is an oral small-molecule prodrug of tramiprosate capable of entirely blocking the formation of neurotoxic soluble amyloid oligomers in the brain.
An easy-to-take tablet, ALZ-801, is evaluated on clinical trials constituting 2,000+ Alzheimer’s patients and, thus, builds on the safety and efficacy profile of its active compound tramiprosate.
Sarika Anand
Alzheon – Funding and Investments
Alzheon has undertaken 9 funding rounds in which it has raised a total amount of $138.2 million. Its latest funding round – Venture Round, was conducted on January 11, 2023, and raised $1.7 million. 3 investors fund the company, including National Institute on Aging and Ally Bridge Group.
| Date | Round | Number of Investors | Money Raised | Lead Investor |
|---|---|---|---|---|
| January 11, 2023 | Venture Round | – | $1.7 million | – |
| April 14, 2022 | Series D | – | $50 million | – |
| September 30, 2020 | Venture Round | – | $2.4 million | – |
| August 20, 2020 | Grant | 1 | $47 million | National Institute on Aging |
| June 9, 2017 | Series B | 1 | $15.8 million | Ally Bridge Group |
| February 26, 2016 | Debt Financing | – | $1.3 million | – |
| July 27, 2015 | Debt Financing | – | $6.9 million | – |
| April 8, 2015 | Series A | 2 | $10 million | Ally Bridge Group |
| January 9, 2015 | Venture Round | – | $3.1 million | – |
Alzheon – Patents and Trademarks
Alzheon is registered with 12 patents primarily categorized in the ‘Medical or Veterinary Science and Hygiene’ class. In addition, the company is registered with 8 trademarks, primarily in the ‘Pharmaceutical, Veterinary, and Sanitary Products’ category.
Alzheon – Growth
The estimated annual revenue of Alzheon in 2022 is $1.6 million per year ($73,182 per employee), with its current valuation standing at 1.3 billion. Moreover, the monthly web visits grew by 509.72%, with 18,505 visits. And its employee count increased by 22% last year.
Alzheon – Partners
Alzheon has entered into a collaboration and license agreement with IOCB (Institute of Organic Chemistry and Biochemistry of the Czech Academy of Sciences) to develop the first Alzheimer’s diagnostic assay to measure neurotoxic beta-amyloid oligomers in the human brain.
Alzheon – Competitors
Some of its main competitors are:
- Alector
- Cortexyme
- Denali
- Cubex
- DispatchHealth
- Landoes Biopharma
- Alkahest Inc
- Minerva Neurosciences
Alzheon – Future Plans
Alzheon’s next-generation candidate is ALZ-1903- a new chemical entity that is a more potent inhibitor of amyloid misfolding.
FAQs
Who is the founder of Alzheon?
Martin Tolar founded Alzheon in 2013.
What is Alzheon and what does it do?
Alzheon is a private clinical-stage biopharmaceutical company with a Phase 3 program in Alzheimer’s disease. Moreover, it is committed to developing innovative medicines by directly addressing the underlying pathology of neurodegenerative disorders.
Who are the main competitors of Alzheon?
Some of Alzheon’s main competitors are:
- Alector
- Cortexyme
- Denali
- Cubex
- DispatchHealth
- Landoes Biopharma
- Alkahest Inc
- Minerva Neurosciences