Amlogenyx Pursues Alzheimers Cure with New $14 Million in Seed Funding

Amlogenyx, a biotech company focused on novel gene therapies for Alzheimer’s disease and amyloid disorders and a subsidiary of publicly traded Ultragenyx Pharmaceutical (NASDAQ: RARE), has secured $14 million in seed funding.

The new funding round was led by GordonMD Global Investments LP and included contributions from Ultragenyx and associated investors.

Amlogenyx was spun out of Ultragenyx in October 2023 to leverage its research that could lead to a new way of treating Alzheimer’s disease. Beverly Hills-headquartered Ultragenyx Pharmaceutical focuses on rare and ultra-rare diseases.

According to CEO Emil Kakkis, the research into Alzheimer’s treatments was too important not to pursue, but the work and funding needed to develop an Alzheimer’s drug were outside Ultragenyx’s rare disease focus. Researchers at the company found that an enzyme called protective protein/cathepsin A (PPCA) can break up a form of amyloid beta, the protein many consider responsible for Alzheimer’s debilitating effects.

Amlogenyx’s flagship product candidate is a protease enzyme developed in partnership with Dr. Sandra D’Azzo at St. Jude Children’s Research Hospital. This enzyme has demonstrated significant potential in degrading Aβ42, the protein implicated in the pathology of Alzheimer’s disease. According to the company, early studies indicate that this approach could mitigate the debilitating effects of Alzheimer’s.

“Amlogenyx’s first product candidate is a protease that we developed alongside Sandra D’Azzo, Ph.D., at St. Jude Children’s Research Hospital in Memphis. The study found that the enzyme can efficiently break up and degrade Aβ42, the protein many consider responsible for Alzheimer’s debilitating effects,” said Dr. Kakkis.

“I am pleased to collaborate with Amlogenyx; its promising Alzheimer’s disease therapeutic has yielded exciting results in pursuing a therapy that has the potential to change the outlook for this disease,” said Dr. Craig Gordon, the founder and chief investment officer of GordonMD.

The gene therapy market is projected to witness substantial growth over the coming years, driven by advancements in biotechnology and increasing investments in research and development. According to industry reports, the global gene therapy market is expected to grow at a compound annual growth rate (CAGR) of 16.6% from 2023 to 2030. This growth is fueled by the rising prevalence of chronic diseases, increased funding from public and private sectors, and the continuous emergence of innovative therapies.

Alzheimer’s disease, in particular, remains a significant area of focus within the biotech industry. The global Alzheimer’s therapeutics market is anticipated to reach $13.6 billion by 2027, growing at a CAGR of 8.7%.

GordonMD Global Investments was founded in 2021 and invests in high-potential opportunities within the biopharmaceutical sector, with a specific interest in the United States, Europe, and Japan. The firm is headquartered in Beverly Hills, California.