Genuv, an innovative drug discovery venture, has been selected to receive funding from the Alzheimer's Drug Discovery Foundation (ADDF) in the United States.

The ADDF, supported by the Estée Lauder family and the Bill & Melinda Gates Foundation, selects Alzheimer's projects worldwide based on their technical merit and innovation. Over its 25-year history, the fund has invested over $290 million in 750 drug candidate programs, biomarker programs, and clinical development in nearly 20 countries.

In recognition of the novel therapeutic strategy and mechanism of action of its lead candidate, SNR1611NF (trametinib), Genuv has been awarded a one-year, $600,000 grant for non-clinical research, the company said on Thursday.

"This recognition from the most prestigious organization in dementia will be a milestone in establishing our global presence and enhancing our external credibility," said Dr. Kim Mi-yeon Kim, director of the Genuv Institute. "We will develop SNR1611NF into a rapid and effective treatment for Alzheimer's disease through AI-based 'precision clinical design' using clinical big data and self-discovered biomarkers."

Dr. Howard Fillit, co-founder and chief scientific officer of ADDF, said, "Drug candidates that can inhibit neuronal damage and protect neurons, such as Genuv’s SNR1611NF, could help treat and prevent Alzheimer's disease."