Alzamend Neuro, Inc. (Nasdaq: ALZN) ("Alzamend"), a clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer's disease ("Alzheimer's"), bipolar disorder ("BD"), major depressive disorder ("MDD") and post-traumatic stress disorder ("PTSD"), announced today that it has entered into a Securities Purchase Agreement (the "Agreement") with Ault Lending, LLC ("Ault Lending"), pursuant to which Ault Lending has agreed to purchase up to $25,000,000 of the Company's newly designated Series D Convertible Preferred Stock (the "Preferred Shares"), and closed on the initial tranche in the amount of $7.5 million.