Seattle biotech firm scores $85 million for work on Alzheimer’s drug, despite hurdles of coronavirus pandemic

published 04.06.2020 06:30

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A more immediate concern was ensuring supply lines remained intact to convert the company’s pharmaceutical ingredients into drugs in time to start the next trial phase.

Fundraising efforts gathered steam soon after the company presented data from its opening round of NDX-1017 tests at the annual Clinical Trials on Alzheimer’s Disease conference in Boston last November.

Its initial testing round went so well that the company plans to combine two phases into one this time, over roughly a six-month stretch, involving 250 to 300 patients with mild- to moderate-stage Alzheimer’s.

Venture capital fundraising can be tough enough without the added challenges of a biotechnology company Athira Pharma has landed an impressive $85 million for an upcoming round of pivotal testing on its NDX-1017 drug that seeks to restore brain function in Alzheimer’s patients.

A major reason cited by Kawas for the company’s continued success with investors is also what makes Alzheimer’s so frightening for many: The disease has staying power and isn’t about to vanish overnight.