MindImmune Secures $5M Investment from Alzheimer’s Drug Discovery Foundation

MindImmune Secures $5M Investment from Alzheimer’s Drug Discovery Foundation

MindImmune on Tuesday announced a $5 million award from the Alzheimer’s Drug Discovery Foundation (ADDF) to accelerate development of its lead therapeutic candidate, MITI-101 — “a first-in-class program designed to target immune pathways driving neuroinflammation and neurodegeneration in Alzheimer’s disease.

 

The funding comes just three plus months after the company closed $30 million in funding.

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The biotech firm said in its announcement of this latest award, This significant funding underscores growing scientific momentum around immune-mediated mechanisms in Alzheimer’s and positions MindImmune at the forefront of a new wave of therapeutic innovation.

 

“Alzheimer’s disease remains one of the most urgent and complex challenges in medicine,” said Stevin Zorn, Chief Science Officer of MindImmune. “This support from the ADDF empowers us to push the boundaries of immune biology in neurodegeneration and rapidly advance MITI-101 toward the clinic. We are building on a compelling body of science with the potential to redefine how we treat this devastating disease.”

 

The company is expected to begin operating at 150 Richmond Street, the state-sponsored lab building.

 

Issac Stone, the company’s CEO, said in an email to GoLocal, “We are evenly split with half our people in RI and half in the Boston area. The current plan is to move into the Providence lab space in Q2.”