Acumen Closes Series A-1 for Development of ACU193

October 24, 2018 at 9:00 AM EDT

Acumen Pharmaceuticals, Inc., a preclinical-stage biopharmaceutical company, has held an initial closing on a total $15 million Series A-1 round co-led by PBM Capital GroupSands Capital Ventures, with participation from new and existing private investors.   

The Series A-1 funds will enable Acumen to complete Chemistry, Manufacturing and Control (CMC) and Good Laboratory Practice (GLP) safety testing requirements for ACU193, a humanized monoclonal antibody targeting amyloid beta oligomers for the treatment of Alzheimer’s disease, with the goal of submitting an Investigational New Drug Application (IND). The preclinical and early clinical development of ACU193 is also funded through a $3.6 million U01 grant from the National Institute of Aging.