附近上门

Foster City, California-based raised $100 million to tackle neurodegenerative diseases like Alzheimer鈥檚, from Wednesday.

The filing did not specify the round鈥檚 investors and the company declined to comment.

The 6-year-old biotech startup has long been working on a treatment for Alzheimer鈥檚 disease. Last year, the granted the company Investigational New Drug clearance. This allows the company to expedite the process of shipping the drug to people across state lines. TrueBinding has since been conducting a clinical trial that is expected to end in October.

Medical ecosystem funding

TrueBinding joins a slew of startups tackling Alzheimer鈥檚, a cognitive disease that causes dementia. According to 附近上门 data, Hong Kong-based and Massachusetts-based both raised $60 million and $53.3 million, respectively, in June.

Another Massachusetts startup, , raised $50 million in April, and California鈥檚 raised $100 million in March from . The FDA approved the first Alzheimer鈥檚 drug in two decades in 2021 with Adulhelm, a controversial treatment developed by that , citing concerns around efficacy and potentially dangerous side effects.

In a medical ecosystem where the primary goal is to lower health care spending, treatments for long-lasting diseases like Alzheimer鈥檚 are especially in demand and largely recession-proof. 附近上门 data shows 2020 was a banner year for Alzheimer鈥檚 funding鈥攇lobal venture investment in the space reached $262 million (compared to $126.1 million the year prior), largely going to a handful of biotech startups like Neuron23 and . Funding last year reached nearly $245.9 million.

The estimates around 5.8 million people in the U.S. have dementia. The cost of treating Alzheimer鈥檚 in 2020 . The U.S. during the COVID-19 pandemic. That was largely due to its prevalence among lower-income people who often cannot afford the full spectrum of caretaking resources required to treat people with the virus.

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