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5 Jan 2012

NeuroGenetic Receives Investment from Abbott Biotech Ventures

Abbott Biotech Ventures invests in NeuroGenetic Pharmaceuticals for research on therapy for Alzheimer's Disease.

San Diego-based biopharmaceutical company NeuroGenetic Pharmaceuticals, Inc. (NGP) has received an investment from Abbott Biotech Ventures. The amount of the investment was not disclosed.


According to Dr. William T. Comer, president and CEO of NGP, the funding will expedite the development of the company's lead candidate, NGP 555, for the prevention of Alzheimer's Disease.


Earlier, NGP announced that it has been awarded a Small Business Innovation Research (SBIR) fast-track grant from the National Institutes of Health (NIH) for preclinical work on NGP 555. The first phase award is in the amount of $288,000 with future awards to approach $1 million for each subsequent phase, which can be up to three rounds of additional funding for mileston

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