Alzamend Neuro provided an update on its clinical programs on July 23, 2025, noting a significant setback for its ALZN002 candidate. The company's contract research organization (CRO) terminated their agreement for ALZN002 in February 2024.
Alzamend is actively working to engage a new CRO, but the process has been slower than expected due to the trial’s scientific and operational complexities. Challenges include a limited pool of CROs with the necessary expertise and industry-wide shortages of experienced providers.
In a positive development, the company confirmed the successful completion of its $5 million private placement on June 13, 2025, which occurred months ahead of schedule. This financing has improved Alzamend's financial position and will support the five Phase II clinical trials of AL001.
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