Neuro Biotech Alto Adds $128M in IPO Cash for Biomarker-Based Psych Drugs

Altos Neuroscience is bringing precision medicine to psychiatric drug research with its technology, which analyzes biomarkers to match patients with the most effective treatments for neuropsychiatric disorders. The company’s recent IPO has raised $128.6 million, with shares trading on the New York Stock Exchange. Founded in 2019 by Stanford psychiatry professor Amit Etkin, the company’s pipeline includes five clinical-stage precision psychiatry medicines, with two in mid-stage clinical development for depression. These drugs target specific biomarkers, with preliminary data from Phase 2 studies expected in the coming years. Alto also plans to develop companion diagnostics to identify biomarkers in patients.

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