Cognito Therapeutics Secures $73 Million in Series B Funding to Advance Alzheimer’s Treatment Device

Cognito Therapeutics, a US-based neurotech company, has raised $73 million (£59 million) in a Series B funding round led by FoundersX Ventures. The round also saw participation from existing investors, bringing the company’s total funding to $93 million (£75 million) since its inception. Cognito specializes in developing disease-modifying therapies for central nervous system (CNS) diseases, with a focus on addressing the growing global issue of Alzheimer’s disease, which currently affects over 55 million people worldwide.

The company is working on a non-invasive neuromodulation device that employs proprietary gamma frequency light and sound stimulation to target Alzheimer’s Disease. In a recent Phase II clinical trial, the device demonstrated significant slowing of functional and cognitive decline in the treatment group and a considerable reduction in brain atrophy over a six-month period.

The newly secured funding will be used to advance Cognito’s research, including its pivotal clinical trial called HOPE for Alzheimer’s Disease. The trial aims to enroll 500 patients across approximately 50 clinical centers in the United States. Cognito’s CEO, Brent Vaughan, expressed optimism about the potential of the home-based wearable device as a safe, disease-modifying therapeutic approach for treating neurodegenerative diseases, starting with Alzheimer’s.

In addition to the financing, Dr. Rick Kuntz, formerly of Medtronic, and Helen Liang, Founder & Managing Partner at FoundersX, will join Cognito’s Board of Directors. Dr. Kuntz highlighted the potential of Cognito’s proprietary approach to address the brain’s electrophysiology abnormalities as an exciting novel target for the treatment of neurounderlying neuronal pathophysiology, Cognito’s approach has demonstrated the potential to fundamentally alter disease processes and achieve disease modification in a way that is distinct from traditional methods.

As Cognito moves forward with its clinical trials and device development, the successful Series B funding round underscores the growing interest and investment in the field of neurodegenerative disease research. With Alzheimer’s disease continuing to be a major public health challenge worldwide, the advancements made by Cognito and its innovative neuromodulation device could represent a breakthrough in the treatment and management of Alzheimer’s and other related conditions.