One of the most exciting drug developers in neuroscience is getting ready for their Wall Street debut.
What’s happening:
- Los Altos, California based biotech company Alto Neuroscience has officially filed with the SEC to raise $100M USD in an IPO on the New York Stock Exchange
The big idea:
- Alto leverages artificial intelligence to analyze biomarkers in patients to be able to precisely determine which therapeutics will be most effective for them
- By focusing on discovering highly specific biomarkers, Alto is also able to identify subtypes of diseases which are not easily found through traditional clinical screening
- Alto then takes this data and uses it to develop novel therapeutics they believe will be highly impactful for mental health conditions and brain disorders
Why it matters:
- Major Depressive Disorder, Post Traumatic Stress Disorder and many other types of mental health conditions continue to lack highly effective therapeutic treatments, which has led to a flurry of new drug development startups finding venture capital funding including psychedelic medicine drug developers
Going deeper:
- Alto Neuroscience already has a number of notable investors including Christian Angermayer’s Apeiron Group, Steve Cohen’s Point72, Eli Lily, Franklin Templeton and more
- Alto's most advanced novel drugs are currently in Phase IIb trials focused on Major Depressive Disorder
