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news.The Alzheimer's Drug Discovery Foundation has announced that it is providing a biotechnology founder's grant of $300,000 to PharmatrophiX, a start-up biotechnology company dedicated to developing a drug to prevent neuronal degeneration and improve brain function.
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PharmatrophiX is developing a series of small molecule compounds called ‘neurotrophin mimetics’ that mimic the function of neurotrophins. These mimetics are the most promising compounds to date that target the degeneration caused by the toxic protein beta-amyloid which kill neurons, impair memory and may be the cause of Alzheimer’s disease.
Frank Longo, PharmatrophiX’s founder, said: “The funding will play a key role in accelerating our small molecule drug development programs. ADDF’s combination of pioneering the venture philanthropy model and its exceptional sophistication in the Alzheimer’s therapeutic area has provided PharmatrophiX with a very solid footing for achieving its next milestones.”