Annovis Bio Raises $15M to Advance Alzheimer's and Parkinson's Drug

Annovis Bio (NYSE: ANVS), a Phase 3 clinical-stage biotechnology company focused on neurodegenerative diseases, has announced the pricing of an underwritten public offering of 7,895,000 shares of common stock and accompanying warrants to purchase up to 7,105,500 additional shares at a combined offering price of $1.90 per share and warrant. The company expects gross proceeds of approximately $15 million before expenses, with net proceeds intended to support continued clinical development of its lead drug candidate, buntanetap, for Alzheimer’s and Parkinson’s disease, as well as working capital and general corporate purposes. This funding is critical as Annovis advances buntanetap through clinical trials, aiming to address the underlying causes of neurodegeneration by inhibiting the translation of multiple neurotoxic proteins.

Headquartered in Malvern, Pennsylvania, Annovis Bio is developing buntanetap (formerly posiphen), an investigational once-daily oral therapy that targets the translation of APP, amyloid beta, tau, alpha-synuclein, and TDP-43 through a specific RNA-targeting mechanism. By halting disease progression and improving cognitive and motor functions, the company hopes to make a significant impact on patients suffering from Alzheimer’s disease (AD) and Parkinson’s disease (PD). The latest news and updates relating to ANVS are available in the company’s newsroom, and Annovis invites investors and the public to follow its progress on LinkedIn, YouTube, and X.

The press release was disseminated by InvestorWire, a specialized communications platform within the Dynamic Brand Portfolio @ IBN. InvestorWire provides wire-grade press release syndication, enhanced distribution to 5,000+ outlets, and social media reach via IBN to millions of followers. This news matters because Annovis Bio is tackling two of the most devastating neurodegenerative diseases with a novel approach. If buntanetap proves effective, it could offer a disease-modifying therapy for millions of patients worldwide, potentially slowing or halting the progression of Alzheimer’s and Parkinson’s, which currently lack effective treatments. The successful completion of this offering provides the necessary capital to advance clinical trials, bringing hope to patients and caregivers while positioning Annovis as a key player in the biotech space.