Avraham Raises $4M for MCI Trial

Avraham Pharmaceuticals Ltd.  has closed an investment round of approximately $4.0 million. Investors in the round include Yissum Research Development Company Ltd., the technology transfer arm of the Hebrew University of Jerusalem, Pontifax, Clal Biotechnology Industries, Integra Holdings, Yissum’s biotech holdings company, the Technion Research and Development Foundation Ltd. (TRDF) and others. Avraham Pharmaceuticals will use the capital to complete the on-going Phase 2b study of its lead product, ladostigil, a novel molecule designed for the treatment of mild cognitive impairment (MCI) and early stages of Alzheimer’s disease, results of which are expected in the third quarter of 2016. The investment will also support activities in preparation for the next Phase 3 study of ladostigil. These include the establishment of a clinical advisory board which includes key opinion leaders in the fields of MCI and Alzheimer’s disease and a steering committee that will assist the Company in the design of the Phase 3 study. In addition, the capital will be used for preparations for a future pre-IND meeting with the FDA