Neurodegenerative disorders drug developer Cognition Therapeutics has raised $1.8 million in equity, according to a regulatory filing.
The Pittsburgh-based company is developing multiple drug candidates to treat Alzheimer’s disease and similar central nervous system disorders.
The latest fundraise is the first close of what’s hoped to be a $3 million series A2 round, CEO Hank Safferstein said. Cognition is aiming to close the round near the end of January, he said.
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The latest funding was sourced from 16 investors, according to the regulatory document.
Cognition’s technology is aimed at blocking Amyloid beta protein, which can interfere with learning and memory. Blocking the effects of the protein may halt or reverse Alzheimer’s, according to the company.
The company raised a $2.5 million series A1 round in January. That round was led by angel group Golden Seeds, with participation from a number of existing investors that included Pittsburgh economic development group Life Sciences Greenhouse.
At the time, Cognition said it would use the funding to advance one or more of its drug candidates to Investigational New Drug (IND) application status. The company has not yet filed an IND, Safferstein said.
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Safferstein declined to provide further details on the development status of Cognition’s drug candidates and instead said the company would reveal more once it closes the funding round.
Photo from flickr user IsaacMao
