Alzamend Neuro announced on June 16, 2025, the final closing of its $5 million private placement. The investor purchased the remaining available shares of Series C Convertible Preferred Stock and warrants on June 13, 2025.
This completion occurred months ahead of the originally scheduled final tranche closing in October 2025, demonstrating strong investor confidence. The company received $5 million in gross proceeds from this financing.
The capital raised will be used to support the five Phase II clinical trials of AL001, known as the 'Lithium in Brain' studies, at Massachusetts General Hospital. This early funding provides a significant boost to Alzamend's financial position and accelerates its clinical programs.
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