Alzheon seeks up to $500M in new financing after Phase 3 setback for Alzheimer’s drug

Alzheon, a biotech based in Framingham, Massachusetts, has been pursuing an Alzheimer’s therapy for more than a decade.

Its lead candidate recently failed to achieve the primary goals in a Phase 3 trial, representing a notable setback for the company.

In response, Alzheon outlined plans to raise up to $500 million in a new financing round to support continued research and other corporate activities.