Proactive Investors - Run By Investors For Investors

Neurotrope raising US$15.3mln to fund Alzheimer’s drug trial

It could be the first step in raising a total of around US$150mln and it will support a Phase 2b clinical trial
Neurotrope raising US$15.3mln to fund Alzheimer’s drug trial
If all warrants were exercised Neurotrope would raise US$136mln on top of the initial US$15.3mln funding

Neurotrope (OTCMKTS:NTRP) told investors it is raising US$15.3mln to fund the clinical development of its potential Alzheimer’s drugs.

It is part of a series of share issues - via conversion of preferred stock and/or warrants – that could see more than US$100mln of additional funding for the group.

Cash raised will support a Phase 2b clinical trial, which will study 150 patients with moderately severe to severe Alzheimer's disease.

The company has an exclusive license to develop and commercialize bryostatin, which is described as a ‘potent modulator’ of an enzyme call protein kinase C epsilon (PKCe).

PKCe deficit is seen as a potential cause of Alzheimer’s disease. Neurotrope highlights that in animal research the activation of PKCe has shown to improve learning and memory. It also highlighted that PKCe has been studied extensively by the Blanchette Rockefeller Neurosciences Institute (BRNI) as a possible treatment of cognitive disorders.

Initially, the company’s private placement will result in the raise of US$15.3mln with units sold to investors at 60 American cents each. Each unit will comprise one one-hundredth of a preference share (which can be converted later into common stock) and five separate share warrants.

If all warrants were exercised Neurotrope would raise US$136mln on top of the initial US$15.3mln funding.

Subscribers in the private placing will also be given the right to participate in any future equity financings over the next year.

View full NTRP profile View Profile

Neurotrope Timeline

Related Articles

Cameron Durrant
March 04 2019
A goal is to improve the safety of CAR-T therapies, used in the treatment of children with acute lymphoblastic leukemia and adults with advanced lymphomas
human kidneys
May 06 2019
The Danish company is seeking FDA approval of the test for use in both adults and children
Medical scanner
February 08 2019
The company’s digital platform and Artificial Intelligence (AI) software manages and helps interpret images from MRI (magnetic resonance imaging) and PRT (positron emission tomography) scanners
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use