Neurotrope Inc. (NASDAQ:NTRP) has announced the launch of a new second phase study of Bryostatin-1 for the treatment of Alzheimer’s disease patients.
Neurotrope receives $2.7 million to advance Bryostatin-1 study
The company will conduct the new long-term second-phase clinical study in partnership with the National Institute of Health under a $2.7 million grant to Neurotrope. The study was designed following a review of data from the previous study with NIH and Key Opinion Leaders to evaluate Bryoststin-1’s long term therapeutic effects in the absence of Namenda in Alzheimer ’s disease patients. Already Neurotrope has engaged Worldwide Clinical Trials to commence site recruitment as wells as activation.
Recently Neurotrope announced the signing of a definitive agreement with Metuchen Pharmaceuticals under which the companies will merge in an all-stock transaction. Following the merger, the combined company will focus on men’s health conditions, and it will be called Petros Pharmaceuticals. Once the transaction has completed, Bryostatin-1 and all other existing assets of Neurotrope, liabilities, and operations except for cash that Petros will retain according to the terms of the transaction will be spun into a new company traded separate but will still be called Neurotrope Biosciences.
Business combination and the start of Bryostatin-1 study massive opportunity
Neurotrope’s CEO Charles Ryan indicated that the commencement of the new long-term Bryostatun-1 study in Alzheimer’s disease and the efforts to advance the merger with Metuchen shows a massive opportunity for the company’s investors to take part in two different publicly traded companies with massive propositions.
Daniel Alkon, the Chief Scientific Officer, and President indicated they were delighted to take Bryostatin-1 to the next development phase. Alkon said that the study aims to evaluate the efficacy of Bryostatin-1 as a long-term treatment in patients they consider to have the potential for most clinical benefit. There is a high unmet medical need in the treatment of AD, and NIH has highlighted this through its grant and scientific support to Neurotrope. The company is planning to accelerate the study to show that Bryostatin-1 has potential benefits in the treatment of AD.