Abbott Biotech Ventures, one of the corporate venturing funds run by pharmaceutical corporation Abbott Laboratories, invested an undisclosed amount in US-based Alzheimer’s disease therapeutics company NeuroGenetic Pharmaceuticals (NGP) on Wednesday.
Founded in 2009, NeuroGenetic’s technology is based around a compound, NGP555, that it claims can detect and reduce the brain plaques associated with Alzheimer’s. The funding will be used to initiate clinical trials for NGP 555.
The funding follows a Small Business Innovation Research grant worth nearly $300,000, received…
