California Alzheimer’s startup TrueBinding raises more than $50M, lays off workers twice in June

True­Bind­ing, a Cal­i­for­nia start­up ad­dress­ing Alzheimer’s from a dif­fer­ent an­gle than most oth­er biotechs, has se­cured more than $50 mil­lion in ad­di­tion­al cap­i­tal. But it’s al­so gone through two rounds of lay­offs in re­cent weeks, ac­cord­ing to LinkedIn posts.

The biotech sent in pa­per­work on a $57.7 mil­lion raise this week, but the SEC fil­ing out­lines an orig­i­nal­ly tar­get­ed $78 mil­lion round. The com­pa­ny brought in 11 in­vestors for the of­fer­ing, which kicked off in March.

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