AgeneBio receives $3.4M for development of Alzheimer's treatment - Technical.ly Baltimore

Business

Sep. 13, 2019 5:01 pm

AgeneBio receives $3.4M for development of Alzheimer’s treatment

The funding from the Alzheimer’s Drug Discovery Foundation and NIH will provide for continued development of a drug that targets overactivity in a specific part of the brain.
AgeneBio CEO Michela Gallagher.

AgeneBio CEO Michela Gallagher.

(Courtesy photo)

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.

Advertisement

-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Village Capital cofounder Victoria Fram is the first guest on ‘Off the Sidelines,’ our new investor education podcast

Pinkaloo raises $1.25M, led by Baltimore’s Squadra VC

UMB licenses technology to Y Combinator-backed biotech startup

SPONSORED

Baltimore

How independence fuels confidence and professional development at SmartLogic

Philadelphia

Technically Media

Technical.ly Director of Talent Initiatives

Apply Now

Baltimore, MD

14 West

Qlik Developer

Apply Now

Baltimore, MD

14 West

Senior Qlik Developer

Apply Now

Bezos fund awards $5M grant to St. Vincent de Paul Baltimore

Investment gives Vista Equity Partners majority stake in Maryland’s Sonatype

Cybersecurity startup Code Dx wins $2M seed investment at DataTribe Challenge

SPONSORED

Baltimore

How this lawyer is helping entrepreneurs bark up the right tree

Baltimore, MD

14 West

Lead Qlik Developer

Apply Now

Baltimore

14 West

Senior Business Analyst

Apply Now

Baltimore

SmartLogic

Operations Manager

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!