New NeuroPhage funding to back move to Alzheimer's trial
NeuroPhage Pharmaceuticals Inc., a privately held neurodegenerative disease company based in Cambridge, closed a $12.4M Series B round Tuesday that it plans to use to get its lead compound to treat Alzheimer’s disease, NPT001, into a Phase 1 clinical trial in about a year and a half.
“Ideally we want to image patients to detect any presence of plaque, treat them, and then image them again to pick up a signal of plaque reduction within several months, and then follow the patients longer,” said Jonathan Solomon, president and CEO of the company. Solomon co-founded NeuroPhage with fellow Harvard Business School graduate Hampus Hillerstrom, executive vice president and chief business officer, in 2006. There are eight employees in Cambridge and four more at Tel Aviv University in Israel.