ACUMEN PHARMACEUTICALS INC. ANNOUNCES CLOSE OF FINANCING

Proceeds will continue to fund certain operations into 2016.

Livermore, CA, September 28, 2015 – Acumen Pharmaceuticals, Inc., today announced it has completed a private round of funding that will  fund on-going preclinical development of ACU-193, a monoclonal antibody that selectively binds to and captures soluble oligomers of the amyloid-beta peptide.

NeuroVentures and other existing investors, were joined by PBM Capital LLC in the financing.  

Dr. Jeffrey Ives named to Acumen Pharmaceutical’s Board of Directors

Livermore, July 11, 2014 – Acumen Pharmaceuticals’ Board of Directors announced the appointment of Jeffrey Ives, Ph.D., to the company’s Board of Directors. Dr. Ives’s scientific leadership experience and expertise in drug development for Alzheimer’s disease will support Acumen’s advancement as its lead drug candidate, ACU-193, a novel, first in class, humanized monoclonal antibody that selectively targets soluble amyloid-beta oligomers, which are widely recognized as a key toxin causing Alzheimer’s disease. 

“We are very pleased to welcome Jeffrey to our board of directors to assist Acumen in developing our unique soluble amyloid-beta oligomer targeting immunotherapy for the benefit of patients suffering from Alzheimer’s disease” said Grant Krafft, PhD, Founder, Chairman and Chief Scientific Advisor of Acumen. “Jeffrey’s extensive expertise and experience will be of tremendous benefit to Acumen as we execute on our strategy to develop ACU-193 for Alzheimer’s patients.” 

“I am delighted to join Acumen’s Board of Directors,” said Dr. Ives. “I look forward to helping Acumen advance ACU-193 for the benefit of Alzheimer’s patients. ACU-193 is a unique Aβ immunotherapy that for the first time targets soluble amyloid beta oligomers, which are widely regarded as the principal Aβ species responsible for Alzheimer’s disease.” 

Dr. Ives has over 30 years of senior management and scientific leadership experience in the development of novel therapeutics, with an emphasis on drugs for central nervous system diseases. Dr. Ives is a Principal for NeuroPharma Advisors, LLC, a Boston area advisory group dedicated to assisting companies developing therapeutics for central nervous system diseases. Prior to NeuroPharma Advisors, Dr. Ives was CEO of Satori Pharmaceuticals, which was a leading company in the development of γ-secretase modulators for the treatment of Alzheimer’s disease. Before Satori, Dr. Ives held numerous senior management positions at Pfizer including Senior Vice President of Portfolio Research, Senior Vice President of Phamacokinetics, Dynamics and Metabolism, Vice President of Central Nervous System Research, and Executive Director of Central Nervous System Medicinal Chemistry. Dr. Ives earned his Ph.D. in Chemistry from Yale University and his Bachelor’s degree in Chemistry from Colgate University. 

ACUMEN PHARMACEUTICALS INC. ANNOUNCES CLOSE OF FINANCING

Acumen Pharmaceuticals, Inc., today announced it has completed closing of a $500,000 financing led by NeuroVentures Fund, L.P. and BVF Partners L.P. (BVF).  Acumen will use the proceeds to fund on-going preclinical development of ACU-193, a monoclonal antibody that selectively binds to and captures soluble oligomers of the amyloid-beta peptide.

ACU-193 Highlights and Development Timeline

  • Selective, high affinity binding of soluble amyloid beta oligomers, which are now recognized widely as key pathogenic structures in Alzheimer’s disease;
  • Targets the most scientifically validated Aβ toxin (soluble amyloid beta oligomers);
  • Distinct from all other Aβ antibodies in development that either have selective affinity for non-toxic monomer or relatively non-toxic fibrillar Aβ;
  • Expected to deliver acute and chronic benefits for Mild Cognitive Impairment (MCI) and mild to moderate Alzheimer patients;
  • Multi-national pharmaceutical company quality IND-enabling data set (in vitro & in vivo efficacy, PK, safety, CMC);
  • IND enabling studies and clinical trial design accepted by FDA in pre-IND meeting;
  • Patent protection beyond 2030.


About Acumen Pharmaceuticals Inc.
Acumen is a world leader in experimental therapeutics that directly target the key molecular cause of Alzheimer’s disease.  Acumen’s clinical candidate, ACU-193, is the first drug to selectively block soluble Aβ oligomers, small protein assemblies that trigger memory malfunction and cause nerve cell degeneration.  ACU-193 is expected to reverse memory loss and stop Alzheimer degeneration by preventing soluble amyloid beta oligomers from attacking nerve cell synapses.  Acumen’s experienced management team is currently working to complete IND-enabling studies that will propel ACU-193 into human clinical trials.

Acumen was founded based on the discovery of soluble Aβ oligomers and their memory compromising ability by founding scientists William Klein and Grant Krafft (Northwestern University) and Caleb Finch (U. Southern California). 

ACUMEN PHARMACEUTICALS INC. ANNOUNCES CLOSE OF FINANCING

Proceeds will fund lead-drug candidate ACU-193 to proof of principle in transgenic Alzheimer’s disease animal models.

Livermore, CA, April 25, 2013 – Acumen Pharmaceuticals, Inc., today announced it has closed a $750,000 financing led by BVF Partners L.P. (BVF), a leading life sciences investment firm. NeuroVentures Fund, L.P., Praxis Technologies, Glynn Ventures and private investors also participated in the closing.

Acumen will use the proceeds to fund preclinical development of ACU-193, a monoclonal antibody that selectively binds to and captures soluble oligomers of the amyloid-beta peptide. ACU-193 could demonstrate clinical proof of concept in Alzheimer’s disease by 2017.

Alzheimer’s disease and related degenerative disorders of the aging brain represent one of the largest and most significant unmet medical needs of modern societies. “ACU-193 represents a distinct and promising drug candidate for Alzheimer’s disease”, said Franz F. Hefti, PhD., CEO of Acumen. “Acumen recently presented its focused development program to the FDA in a pre-IND meeting, and the rationale for ACU-193 and an anti-oligomer approach has been summarized in a special publication, which appeared this month in the leading review journal Trends in Pharmacological Sciences”.

ACU-193 is a potential first in class molecule, expected to be effective as a standalone therapy or in combination with other Alzheimer drugs. ACU-193 selectively captures soluble oligomers of amyloid-beta, and thus has a different mechanism of action from other anti-amyloid antibodies in clinical trials. Soluble oligomers of amyloid-beta are now recognized widely as key pathogenic structures in Alzheimer’s disease. These oligomers bind to and inhibit the function of nerve cells, leading to early memory deficits, and trigger downstream events such as amyloid plaques and tau pathology. ACU-193 is expected to achieve rapid symptomatic clinical benefit in patients with Alzheimer’s disease because memory performance should improve upon the removal of soluble oligomers by ACU-193. Acumen is planning a Phase I/IIa clinical study design to demonstrate clinical proof of concept.

“BVF has participated in funding Acumen Pharmaceuticals and has followed the programs with enthusiasm from the very beginning”, said Mark Lampert, Founder of BVF. “We are delighted to lead the financing of ACU-193. It is a privilege to help bring this exceptionally promising medication to patients suffering from Alzheimer’s disease.” 

Acumen Pharmaceuticals regains worldwide rights to anti-ADDL antibody therapeutics and diagnostics for Alzheimer’s disease from Merck

Acumen Pharmaceuticals announced the termination by Merck Sharp & Dohme Corp., (formerly Merck & Co., Inc.) of a 2003 agreement, amended in 2006, under which Acumen granted Merck exclusive worldwide rights to develop and commercialize anti-ADDL antibody therapeutics and diagnostics for Alzheimer’s disease. 

Merck's decision to discontinue this anti-ADDL Alzheimer’s program and terminate the Merck-Acumen license agreement was based on internal strategic priorities. Under the termination provisions of the agreement, Acumen regains rights licensed to Merck, and also receives certain rights to patent applications and know how generated during the term of the Agreement. Anti-ADDL antibodies have high selectivity for soluble amyloid beta oligomers versus monomeric amyloid beta peptides or insoluble amyloid beta aggregates. Acumen believes this selectivity will favorably differentiate Acumen anti-ADDL immunotherapies compared to amyloid beta immunotherapies currently in late stage clinical testing. 

“Acumen is very pleased to regain worldwide rights for the development and commercialization of anti-ADDL antibody therapeutics and diagnostics,” stated Grant Krafft, Acumen’s Chairman and Chief Science Adviser. 

“The recent failures of a gamma secretase inhibitor and the limited efficacy observed so far with non-selective amyloid beta immunotherapies indicates that industry may have been focused on suboptimal targets within the amyloid beta pathways,” stated Dr. Franz Hefti, Acumen’s President and CEO. “Our Merck colleagues successfully advanced anti-ADDL antibody therapeutics to a late pre-clinical development stage based on antibodies that we believe will allow Acumen to develop a best in class, disease modifying therapy for Alzheimer’s disease.”