Innovation

Cognition Therapeutics on the South Side has raised a $2.5 million series A1 financing that will advance its promising compound to treat Alzheimer's Disease to the next level of development.

There's been quite a bit of progress on the diagnostic front in the past year, says Susan Catalano, Chief Scientific Officer. Just this week, an FDA committee approved the use of the first brain scan that reveals the existence of the characteristic plaques of the disease in a living person, a major breakthrough that may pave the way for more effective treatment. Presently, a definitive diagnosis for Alzheimer's is only available after death by autopsy.  

"We think this therapy (which selectively blocks the activity of the toxic form of the protein that interferes with memory and learning) should be effective at all stages of the disease," says Catalano. "Studies indicate that blocking the effects of this protein may halt or reverse Alzheimer's disease."

The funding will elevate one or more of the company's compounds to Investigational New Drug (IND) candidate status. This latest round was led by Golden Seeds, one of the largest angel investing groups in the country, and was syndicated with Southern California-based Tech Coast Angels. 

A Pittsburgh family was among the investors in this round, The Breedlove Limited Family Partnership and TMC Investment Company. Previous investors also participated in the round including Ogden CAP Associates, M5Invest, the PLSG and Innovation Works. 

"We're very excited about the involvement of Pittsburgh families and the support of Pittsburgh economic development agencies, PLSG and Innovation Works. Our Pittsburgh roots are very deep and we are excited to be an integral part of the business community here."

Writer: Deb Smit
Source: Susan Catalano, Cognition Therapeutics