Cognition Therapeutics closed on a $1.21 million Series A financing. The money will help the company, which focuses on Alzheimer’s disease, advance its preclinical pipeline,
Cognition will test its most promising lead molecules in behavioral models of Alzheimer’s disease. These compounds reportedly block the activity of the toxic oligomeric form of the A-beta protein, which interferes with normal learning and memory. Lab studies have shown that the memory deficits caused by the oligomeric protein are among the earliest changes seen in Alzheimer’s and mild cognitive impairment, the precursor to the disease.
Cognition reports that it has developed a number of screening strategies to identify small molecules capable of blocking the central toxicity of proteins in Alzheimer’s disease and other neurodegenerative diseases. These assays emphasize phenotypic or functional responses of mature primary neurons to the toxic proteins. The company’s chemistry platform converts natural products into low molecular weight, chemically stable drug-like molecules.
The Series A round was led by Ogden CAP and included M5Invest Partners, the Pittsburgh Life Sciences Greenhouse, Innovation Works, and several individual investors. The round included the conversion of existing convertible notes.
“As early investors, we are impressed by Cognition Therapeutics’ combination of cutting-edge technology, influential and experienced leadership, and large clinical and commercial potential,” says Robert Gailus, senior advisor to Ogden CAP.