NEW YORK, Nov. 18, 2016 /PRNewswire/ -- Neurotrope, Inc. (OTCQB:NTRP), a company focused on developing drugs to treat neurodegenerative diseases including Alzheimer's disease, today announced that it entered into a definitive securities purchase agreement with accredited investors to raise approximately $20.2 million in a private placement of common stock and warrants exercisable for common stock. In the private placement, the Company has agreed to sell shares of its common stock at a purchase price of $.20 per share and five-year warrants to purchase an equal number of the Company's shares of common stock, at an exercise price of $0.40 per share. The private placement is being led by new and existing investors. Neurotrope plans to use net proceeds from the private placement to complete its current Phase 2 trial of bryostatin, a novel drug targeting the activation of PKC epsilon, in the treatment of moderate to severe Alzheimer's. Top line results from the trial are expected to be announced in April 2017. The Company is studying plans to initiate an open label extension study treating patients enrolled in the current Phase 2 study. Net proceeds from the private placement will also be deployed to advance bryostatin in a new indication, Fragile X syndrome. The U.S. Food and Drug Administration granted Neurotrope Orphan Drug Status for bryostatin in the treatment of this rare genetic disease for which only symptomatic treatments exist. The balance of funds will be used for general corporate and working capital purposes. Upon the closing of the private placement, Neurotrope expects the proceeds raised in the offering, along with its existing cash resources, should fund the Company at least through the middle of 2018. Neurotrope also plans to file an application with the Nasdaq Capital Market and is finalizing plans to meet all of the Nasdaq listing requirements. No assurance can be given that the Company's common stock will be approved for listing on the Nasdaq Capital Market. Closing of the private placement offering is subject to the satisfaction of customary closing conditions.