$13.4 million capital increase
After repeated disappointments with amyloid-targeting agents in Alzheimer’s disease (AD), attention in AD research has in part turned to tau. Moreover, efforts are being made to target amyloid and tau at the same time for the treatment of AD.
BeyondBio, headquartered in Daejeon, a Korean biopharmaceutical company, is developing an innovative investigational drug (named BEY2153) that inhibits the aggregation of beta-amyloid and tau simultaneously.
The preclinical studies with AD animal models demonstrated that BY2153 inhibited neuronal death while enhancing cognitive and behavioral functions. BY2153 started its phase 1 study in August 2020 which was supposed to be completed in October 2021.
Meanwhile, in September BeyondBio carried out a paid-in capital increase worth $13.4 million which will fuel the further research and development. In parallel with this, BeyondBio is preparing for the KOSDAQ (Korea Securities Dealers Automated Quotation) listing through the ‘Special Technology Assessments Track’. Previously, BeyondBio had applied for the Technology Evaluation in 2019 but in vain.
Phase 1 Clinical Trial (NCT04476303)
A Study to Evaluate the Pharmacokinetics and Safety of BEY2153 in Healthy Participants