Baltimore-based AgeneBio received over $3 million in new grant funding as the company looks to make progress with a pair of treatments for conditions related to Alzheimer’s disease.
AgeneBio works on treatments to slow Mild Cognitive Impairment due to Alzheimer’s disease. As part of that work, the funding will be put toward development of a drug that is designed to treat overactivity in the brain, specifically in the hippocampus. The condition causes a noticeable decline in cognitive abilities including memory, according to the Alzheimer’s Association.
One of the Mt. Washington-based company’s therapeutics under development, called GABA-A a5 PAM, is focused on specific receptors that are present in the hippocampus. The company is looking to complete work toward the clinical stage, in which trials involve human patients.
AgeneBio CEO Dr. Michela Gallagher said the drug is designed to offer “optimal precision” in treating the condition.
“This class of drugs shows great promise, not only for their potential to treat the early symptoms of AD, but also for their ability to address other unmet patient needs in autism and schizophrenia,” she said in a statement.
To support continued development, the Alzheimer’s Drug Discovery Foundation provided $500,00 in grant funding. ADDF was a prior supporter of this effort, providing $2.5 million total.
It’s the also receiving federal funding: National Institutes of Health is providing $2.9 million through the Small Business Innovation Research program. This comes through the NIH’s National Institute on Aging.
Along with these organizations, the company has collaborated on development with Hager Biosciences, University of Southern California and Baltimore’s Johns Hopkins University. Gallagher leads the latter’s Neurogenetics and Behavior Center.
The company has a number of other therapeutics under development, including one that is in the third phase of clinical trials.
Whitebox raises $18M Series B, plans to grow tech and product teams
Baltimore medical device startup Spine Align raises $1.75M seed round, eyes FDA clearance
Money Moves: Baltimore investment updates from Hungry Harvest, T. Rowe Price and Catalent
Startups: Check out funding, incubator opportunities from Baltimore companies
Sign-up for daily news updates from Technical.ly Baltimore