[1] The company is developing medicines for patients with Alzheimer's disease and other neurological and psychiatric disorders.

[2] Alzheon was founded in July 2013 by Martin Tolar, MD, PhD, a veteran of Alzheimer's drug programs,[2] who serves as president and CEO of the organization.

[6][7] In August 2018, Alzheon appointed former IVAX President Neil Flanzraich, JD, as Vice Chairman of Board of Directors.

The grant is to support the Phase 3 clinical trial of ALZ-801 that began in May 2021[10][11] Alzheon's leading candidate, valiltramiprosate (ALZ-801), is an oral prodrug of the active agent tramiprosate[12] that targets neurotoxic soluble amyloid oligomers,[13][14][15] and received Fast Track designation from the FDA in 2017.

[10] ALZ-801 oral tablet is being evaluated in Phase 2 biomarker study in early Alzheimer's disease patients with homozygous and heterozygous APOE4 genotype.