BRIEF—$20.5 million for EIP Pharma to develop Alzheimer's candidate

CNS disease specialist EIP Pharma has raised $20.5 million in a series B financing round led by Access Industries.

The money will be used to advance development of neflamapimod, an oral small molecule inhibitor the firm is developing as a treatment for Alzheimer's disease.

A Phase IIb study called REVERSE-SD is currently enrolling 150 patients to evaluate the candidate’s potential to improve episodic memory.

An earlier Phase IIa trial showed a statistically significant improvement in episodic memory function, as measured by a commonly-used scale.