Neurodegenerative disorders drug developer Cognition Therapeutics has raised $2.5 million in a Series A1 round of investment.
The funding will support preclinical research as the Pittsburgh-based company investigates which of its drug candidates to pursue, according to a statement from the company.
The round was led by angel group Golden Seeds, with participation from a number of existing investors including Pittsburgh economic development group Life Sciences Greenhouse. The round was comprised of new investment and conversion of convertible debt, according to the statement.
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“This financing increases our investor base and further expands our national network to support the critical work we are doing to identify drugs that can treat and potentially prevent the progression of Alzheimer’s disease,” CEO Hank Saffertein said.
Cognition focuses on detecting the Abeta proteins — found in Alzheimer’s patients — that lead to the degeneration in the brain. The company is also developing molecules to block the proteins’ negative results and either stop or reverse Alzheimer’s. The company says its discoveries could also treat other neurodegenerative diseases.
In 2009, Cognition raised $1.2 million.