Cognito Therapeutics Raises $73M in Series B Funding

Cognito Therapeutics, a Cambridge, MA-based neurotechnology company advancing disease-modifying therapies to treat CNS diseases, raised $73M in Series B funding.

The round, which brought total funding to $93M, was led by FoundersX Ventures with participation from Alzheimer’s Drug Discovery Foundation (ADDF), Starbloom Capital, IAG Capital and WS Investment Company. In addition to the financing, Dr. Rick Kuntz, MD, MSc, former Senior Vice President, Chief Medical and Scientific Officer of Medtronic and Helen Liang, Founder & Managing Partner at FoundersX, will join Cognito’s Board of Directors.

The company intends to use the funds to advance pivotal study of its non-invasive neuromodulation device, which delivers proprietary gamma frequency light and sound stimulation intended to treat Alzheimer’s Disease. In a prior Phase 2 clinical trial, the device demonstrated a significant slowing in functional and cognitive decline in the treatment group, as well as a significant decline in brain atrophy over a six-month period. To further demonstrate the efficacy of the device, Cognito is currently enrolling patients in its pivotal clinical trial HOPE for Alzheimer’s Disease, across approximately 50 clinical centers in the United States with a target enrollment of 500 patients.

Led by CEO Brent Vaughan, Cognito Therapeutics is a clinical-stage neurotechnology company developing disease-modifying therapeutic approaches to treat neurodegenerative disorders. Its non-invasive neuromodulation platform was developed by MIT Professors and scientific founders Li-Huei Tsai and Ed Boyden. Its therapy is currently in a pivotal study in Alzheimer’s Disease and was awarded FDA Breakthrough Device Designation.

Cognito’s device is limited by United States law to investigational use only and is not available for sale.

FinSMEs

22/03/2023