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Seattle-based biopharmaceutical company Athira Pharma announced its IPO today with an estimated funding target of $100m.
in June, Athira had just completed an $85 million round of B financing.
Athira focuses on drug development for neurodegenerative diseases and is advancing the NDX-1017 program for the treatment of Alzheimer's disease (AD).
AD is a serious aggressive neurodegenerative disease with complex causes, and genetic and environmental factors can cause the disease alone or as a combination of causes.
specifically, disease-related factors include oxidative stress, inflammation, loss of the neurotransmitter acetylcholine, gliosis, and abnormal protein pathology of Tau and beta amyloid proteins.
these changes can lead to a decrease in synapses in the brain, and the number of synapses is highly correlated with memory and cognitive abilities, and synapse reduction eventually leads to AD.
the past decade, the development of AD drugs has been based on a strategy to reduce the deposition of beta amyloid protein.
in Alzheimer's patients, beta amyloid oligomers bind to the subjects on synapses, interfering with synapses and causing synapses to become abnormal.
but this strategy has failed repeatedly over the past decade.
Athira has adopted a different strategy, trying to permanently change the progression of the disease by activating key neurotrophic factors in the brain, restoring lost neural connections, or creating new neural connections.
Athira's main drug candidate, NDX-1017, targets hepatocellular growth factor (HGF) and its subject MET, promoting the proliferation and survival of neurons and addressing the underlying mechanisms of neurodegenerative lesions, thereby improving connections between nerve cells in the brain.
NDX-1017 also showed positive efficacy characteristics in Athira's Phase I clinical trials.
despite the failure of several large multinational pharmaceutical companies in late-stage clinical trials in the treatment of Alzheimer's disease, Capital continues to focus on the field of neurodegenerative disease drugs.
year, several companies have completed different rounds of financing, and Annovis Bio has completed IPOs.
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