Annovis Bio Secures $6 Million in Direct Offering to Advance Neurodegenerative Disease Therapies

Annovis Bio Inc. has successfully closed a registered direct offering that generated approximately $6 million in gross proceeds before fees and expenses. The late-stage clinical drug platform company sold 4 million shares of common stock or pre-funded warrants at $1.50 per share, with H.C. Wainwright & Co. serving as the exclusive placement agent for the transaction. The net proceeds from this financing are designated for working capital and general corporate purposes, supporting the company's ongoing development of therapies for neurodegenerative diseases including Alzheimer's disease and Parkinson's disease.

This capital infusion comes at a critical time for the biotechnology sector, where funding for clinical-stage companies developing treatments for complex neurological conditions remains challenging to secure. Annovis Bio's focus on neurodegeneration addresses one of the most pressing unmet medical needs in healthcare today. With Alzheimer's disease affecting millions worldwide and Parkinson's disease representing another significant neurodegenerative challenge, the company's research and development efforts target conditions that have proven particularly difficult to treat effectively. The successful completion of this offering demonstrates continued investor confidence in the company's approach to tackling these devastating diseases.

The neurodegenerative disease treatment market represents a substantial opportunity given the aging global population and increasing prevalence of conditions like Alzheimer's and Parkinson's. Successful development of effective therapies could significantly impact patient care and quality of life for millions affected by these progressive neurological disorders. This funding enables Annovis Bio to continue its important work in an area where medical innovation is urgently needed. For additional information about Annovis Bio and its development programs, interested parties can visit the company's website at https://www.annovisbio.com. The latest news and updates relating to ANVS are available in the company's newsroom at https://ibn.fm/ANVS.

This financing represents an important milestone for the company as it advances its clinical programs toward potential regulatory submissions and commercialization. The biotechnology sector has faced significant funding challenges in recent years, particularly for companies focused on complex neurological disorders that require extensive clinical trials and face high regulatory hurdles. Annovis Bio's ability to secure this capital suggests investor recognition of both the medical need and the company's scientific approach. The funding will support continued research into mechanisms that could potentially slow or halt disease progression in conditions that currently have limited treatment options, representing hope for patients and families affected by these debilitating diseases.