Synaptogenix (NASDAQ: SNPX) is pleased to receive a patent from the USPTO for its innovative technique to induce synaptogenesis in humans suffering from synaptic loss.
The new technique allows intravenous administration of synaptic growth factor (SGF) activating compounds in subjects to improve synaptogenesis. Thus, regenerative therapeutics allows reversing the Alzheimer’s disease consequences in humans.
Promotes several mature synapses
The new method can lead to several drug applications for the treatment of Alzheimer’s disease. According to a communiqué, Bryostatin, an innovative formulation from Synaptogenix, promotes the growth of several mature synapses by engaging synaptic growth factors like HGF, IGF, NGF, and BDNF and eliminates neuronal death.
CSO of Synaptogenix, Daniel Alkon, said Bryostatin activates the natural pathways in your brain and helps cure several disorders including Fragile X Mental Retardation Syndrome, Alzheimer’s disease, and Multiple Sclerosis.
Raises $12.5 million
Synaptogenix signed securities purchase accords in June 2021 to raise $12.5 million by issuing warrants and common stocks through private placement. The company mobilized these funds from the prevailing institutional investors.
The company will use the net proceeds to pay for its ongoing Bryostatin-1 developments. In addition, Synaptogenix is conducting Phase 2b clinical trials of this drug with the financial support of NIH to treat Alzheimer’s disease and other research indications.
The combined price of each warrant and common stock is $7.547. The warrant holders can exercise their warrants at $8.51/ share within five years. Synaptogenix expects to close the private placement on or before June 16, 2021, subject to certain customary conditions.
Synaptogenix’s CEO, Alan Tuchman, said the company is pleased with the support extended by the existing investors to carry on its clinical development efforts. The company will soon issue an update on its Phase 2b AD (Alzheimer’s disease) clinical trial. It is also in discussions with partners to investigate other central nervous systems (CNS) indications of this innovative formulation – Bryostatin-1.
Daniel Alkon to appear on TD Ameritrade Network
According to a communiqué from Synaptogenix, its President – Daniel Alkon, would feature as a guest on June 25, 2021, at 1:20 PM on TD Ameritrade Network’s ‘The Watch List’ to discuss the treatments for AD.
He will explain Bryostatin-1’s action to cure Alzheimer’s disease and many other indications of interest.