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news.Abbott Biotech has invested in NeuroGenetic Pharmaceuticals, a biopharmaceutical company focused on Alzheimer's disease (AD) therapeutics research.
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According to NeuroGenetic the funds will be used for the development of their lead candidate, NGP 555 used to prevent AD and initiate clinical trials.
NGP 555, a proprietary molecule for the treatment of Alzheimer’s disease, is a gamma-secretase modulator targeting the ?-secretase complex, a key enzyme in the amyloid pathway.
NGP earlier announced that it received a Small Business Innovation Research (SBIR) fast-track grant from the National Institutes of Health (NIH) for preclinical work on NGP 555.
The company aims to obtain an Investigational New Drug approval for its clinical candidate, NGP 555.