WILKES-BARRE, LUZERNE COUNTY (WBRE/WYOU) — Personal experience can sometimes be a catalyst to try and discover a cure or improved treatment for a disease.
That’s the case of a former wall street investor who’s trying to improve the lives of millions of people living with Alzheimer’s disease.
The rapid development of COVID vaccines offers hope that long-awaited improved treatments and cures for other diseases could be on the near horizon, the founder of a US Bio-Pharmaceutical Company is working to make Alzheimer’s disease one of them.
“My mother-in-law passed away from it. My grandparents, my father’s parents, both had it and they both died from it,” said Milton Ault III, Founder/Chairman Emeritus of Alzamend Neuro.
Milton “Todd” Ault III’s father and other relatives have Alzheimer’s, too. Personally motivated to find a cure for a disease that’s mystified the medical community for more than a century, he founded the company Alzamend Neuro in 2016.
“Because I’ve been on Wall Street financing all kinds of companies that, to me, would not matter as much as solving Alzheimer’s,” said Ault.
“There are presently treatments and solutions on the shelves at universities developed by chemists, professors, Ph.D.’s that don’t have the funding to go into human beings and Big Pharma is not really paid, they don’t economically benefit from going and licensing them early,” said Ault.
Saying he doesn’t know how to solve that gap, he rallied a Wall Street investor to support the mission of funding Ault’s early-stage Alzheimer’s company. The work at Alzamend Neuro has gained momentum.
“We actually have two drugs, AL001 and AL002 we got cleared to go into human beings to start testing a study may proceed letter,” explains Ault.
Ault says one drug will begin testing on clinical trial participants in September. The other, a vaccine, could begin human dosing in a matter of months.
“And for me, that was the goal: to get something into human beings that this doctor, these professors at the University of South Florida believed in. I told them give me the drug you believe in the most and that’s where we went from there,” said Ault.
If his company’s potential Alzheimer’s treatment is proven safe, Ault expects it to receive FDA approval for unmet need and compassionate use status in the coming months.
It’s something we’ll keep an eye on, you can visit Alzamend website for more information.