Primer Capital’s Portfolio Project has filed for an IPO4 September 2020
US-based Athira Pharma, a project financed by Primer Capital, is planning to go public.
The biotech company is developing a unique technology which allows to halt the development of the short memory impairment that is characteristic of the patients with various neurodegenerative diseases. The company plans to raise $ 100 million and forward the financing to its Phase II and II 2 clinical trials in Alzheimer's and Parkinson's diseases.
Primer Capital venture fund, which focuses on pharmaceutical and biotechnological projects, invested in the startup in September 2019, but the name of the eleventh project in the portfolio has only been announced now. This is the first project among those financed by the fund which has filed for public trading.
“Athira's technology has already shown encouraging results in the first patients with cognitive impairment. Going publich is a logical step that will provide the necessary funding for further research of the drug candidate,” said Elizaveta Rozhdestvenskaya, Primer Capital’s Chief Operating Officer
Athira Pharma is a drug development company striving to improve human health by advancing new therapies for neurodegenerative diseases like Alzheimer’s and Parkinson’s. Their innovative approach is focused on turning brain degeneration into regeneration by re-establishing lost connections and restoring lost function. Founded in 2011, the company is based in Seattle, Washington.