Neuroglee Raises $10M to Advance Digital Therapeutics for Neurodegenerative Diseases

Neuroglee Therapeutics Secures $10 Million in Series A Funding

Neuroglee Therapeutics, a company focused on creating digital treatments for neurodegenerative diseases, has successfully raised $10 million in a Series A funding round. The investment was spearheaded by Openspace Ventures and EDBI.

These funds will primarily facilitate the launch of virtual neurology clinics. Additionally, the capital will support Neuroglee’s relocation of its operations to Boston.

Key Investors in the Round

Several prominent figures and organizations participated in this funding round. These include Ramen Singh, previously the CEO of Mundipharma, as well as the co-founders of Biofourmis, Kuldeep Singh Rajput and Wendou Liu.

Eisai Co., a Japanese pharmaceutical company that previously invested in Neuroglee, also contributed to this latest round.

Strategic Move to Boston

According to founder and CEO Aniket Singh Rajput, the decision to move to Boston stems from the city’s position as a leading digital health center. He communicated this via email to TechCrunch.

Rajput believes Boston will provide crucial strategic advantages as Neuroglee develops solutions for mild cognitive impairment linked to challenging neurodegenerative conditions, such as Alzheimer’s disease.

Neuroglee Connect: Scaling Cognitive Care

Neuroglee is collaborating with the Mayo Clinic on a new platform called Neuroglee Connect. This platform is built upon the Mayo Clinic’s HABIT program – a 10-day in-person program designed to benefit individuals with mild cognitive impairment.

Neuroglee’s technology aims to expand the reach of HABIT, making it accessible to patients and caregivers remotely, within their homes.

Comprehensive Support for Users

Users of Neuroglee Connect will benefit from 24/7 access to health navigators. They will also have access to clinical care teams for thorough assessments and targeted interventions.

Expanding the Product Pipeline

Beyond Alzheimer’s disease, Neuroglee’s product development includes digital therapeutics for Parkinson’s disease and the treatment of strokes.

Recent Milestones and Breakthrough Designation Pursuit

Since its last funding announcement in December 2020, Neuroglee has achieved significant progress. This includes the successful development of NG-001, its prescription digital therapy software for Alzheimer’s.

The company has also initiated a proof-of-concept study with the goal of obtaining a Breakthrough Designation from the Federal Drug Administration for NG-001.

Adaptive Learning Technology

Neuroglee’s technology utilizes machine learning and cognitive biomarkers to personalize therapy plans for each patient. Patients access the software through their smartphones or tablets.

The system dynamically adjusts therapy based on factors like finger movement speed, task completion times, and facial expressions detected by the device’s camera, as explained by Rajput.

Reminiscence Therapy Integration

The solution also incorporates reminiscence therapy, leveraging images from a patient’s past to stimulate positive memories and emotions. Research indicates this approach can enhance cognitive function.