Takeaways from AAIC

研报英文原文证据摘录

Takeaways from AAIC

EUROPE | Pharmaceuticals EquityJulyResearch16, 2026

We provide some key takeways from AAIC 2026 (Alzheimer's Association

International Conference). AAIC 2026 was less about new anti-amyloid

efficacy data and more about defining the next phase of Alzheimer's

treatment. Speakers broadly accepted amyloid removal as a validated

therapeutic approach while focusing increasingly on tau biology, biomarker

refinement, and combination therapy strategies.

Roche's P1b/2a safety and biomarker data looked ok, but some questions on safety

and clinical translation remain: Longer-term Brainshuttle amyloid-beta data showed c.92%

of higher-dose patients below the amyloid positivity threshold by week 28 alongside

sustained pTau181/pTau217 reductions, supporting rapid amyloid clearance. However,

elevated microhaemorrhaging coupled with a case of ARIA-E in the trontinemab arm poses a

question on just how clean the safety profile actually is. With Phase III prevenTRON expected

to begin enrolment in the coming months, Roche is pursuing earlier intervention in preclinical

Alzheimer's disease.

Historically, BBB delivery platforms were viewed as enabling technologies with limited clinical

validation. At AAIC, the discussion was much more focused on TfR-binding architecture,

distribution throughout deep brain regions, CNS exposure levels, cell-type penetration and

whether greater brain delivery translates into superior clinical outcomes. This suggests the

conference debate has shifted from proving the concept to optimising the approach.

Biogen's tau antisense oligonucleotide generated interest, although confusional events

remain a question: Whilst not meeting its dose-dependent primary end point, BIIB080 showed

26% slowing of CDR-SB at 76 weeks with the lowest dose (60mg).