Alzeca raises $11M in private financing

Contrast agent developer Alzeca Biosciences has raised $11 million in a placement of series A funds with private investors.

Alzeca is developing its ADx nanoparticle technology to enable MRI scanning of Alzheimer's disease as an alternative to PET. ADx can carry an encapsulated imaging agent across the blood-brain barrier and bind to amyloid plaque, allowing patients to be imaged with a standard clinical MRI scanner.

Alzeca plans to use the funds to advance the development of ADx, with an investigational new drug (IND) application expected in mid-2018 and phase I/II clinical trials after that, according to Carlo Medici, Alzeca's CEO. Alzeca also plans to accelerate the development of other MRI contrast agents, such as those targeting tau and alpha synuclein, which have been linked with chronic traumatic encephalopathy (CTE) and other conditions.

As part of the financing, Alzeca has added two new board members: Peter Werth, president and CEO of ChemWerth, and Navneet Puri, PhD, founder and CEO of Nevakar.

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