Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Partnerships Halozyme, Inc.: non-exclusive license to Halozyme drug-delivery technology for a subcutaneous formulation of sabirnetug (seven-figure upfront paid Jan 2024; development/commercial milestones; single-digit royalties on worldwide net sales); Lonza Sales AG: non-exclusive manufacturing license (glutamine synthetase expression system), 1.0M CHF upfront, <1% to low-single-digit royalties
Indications
Alzheimer's disease (early AD: mild cognitive impairment or mild dementia due to AD)(Phase 2)
Catalysts
— late 2026
Status note Sole clinical-stage product candidate. FDA granted Fast Track designation to ACU193 in October 2022. Phase 1 subcutaneous formulation study in healthy volunteers completed March 2025; supports further development as more convenient dosing option.
ACU301
Preclinical · Active
Target amyloid-beta oligomers (AβOs)
Partnerships JCR Pharmaceuticals: collaboration, option and license agreement for Aβ oligomer-targeted EBD candidates (upfront paid 2025; $9.25M option exercise paid June 2026; up to $40M development + $515M sales milestones; single-digit royalties)
Indications
Alzheimer's disease(Preclinical)
Catalysts
— mid-2027
Status note One of two EBD (Enhanced Brain Delivery) development candidates nominated June 2026 and licensed under the JCR collaboration. Preclinical data reported March 2026.
ACU401
Preclinical · Active
Target amyloid-beta oligomers (AβOs)
Partnerships JCR Pharmaceuticals: collaboration, option and license agreement for Aβ oligomer-targeted EBD candidates (upfront paid 2025; $9.25M option exercise paid June 2026; up to $40M development + $515M sales milestones; single-digit royalties)
Indications
Alzheimer's disease(Preclinical)
Catalysts
— mid-2027
Status note One of two EBD (Enhanced Brain Delivery) development candidates nominated June 2026 and licensed under the JCR collaboration. Preclinical data reported March 2026.
Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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