Aniket Singh Rajput, Founder and CEO of Neuroglee
Neuroglee Therapeutics, a Singapore-based healthtech startup building evidence-based, prescription digital therapeutics for neurodegenerative diseases, announced today that it has raised US$2.3 million in pre-seed funding.
The round was led by Eisai, a Japanese global pharmaceutical company. Kuldeep Singh Rajput, Founder & CEO of Biofourmis, also participated in the investment round.
As per a press note, proceeds will be used to advance product development for their lead product NG-001 – intended for the treatment and management of patients with early stages of Alzheimer’s Disease. Clinical trials are due to start in early 2021 and the startup plans to open its US operations in Boston in 2021.
Neuroglee designs and commercialises digital therapies to fill the unmet need for complementary therapies to manage neurodegenerative diseases that can run in parallel with pharmacotherapy or treatment through medication.
Combining closed-loop cognitive intervention strategies and novel biomarkers, Neuroglee claims its prescription software can be used independently and in conjunction with pharmacotherapy for better patient management, creating a more holistic approach to treatment for neurodegenerative diseases.
“Neurodegenerative diseases is a severely underserved market, yet also one that is constantly growing as our population continues to age,” said Aniket Singh Rajput, Founder and CEO of Neuroglee.
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“Through the power of software, we are able to combine our expertise in cognitive neuroscience, behaviour modification and digital biomarkers into a digital form of treatment that augments conventional medication and bridges the gap between patient and clinician,” he added.
Kazumasa Nagayama, Vice President and Chief Strategy Officer of Eisai, explained in a press statement how their investment in the startup is in line with the company’s core philosophies.
“Neuroglee’s solution exemplifies this philosophy as it prioritises the wellbeing of both patients and caregivers, yet it also contributes to the greater scientific mission of finding a cure for these currently incurable diseases through facilitating data transparency. We are proud to support this cause and we are eager to work with Neuroglee to realise this vision,” he said.
NG-001 is designed to manage patients with early-stage Alzheimer’s by delivering software-based cognitive intervention at home.
Leveraging on Artificial Intelligence, the software deploys engaging gamification techniques and cognitive tasks on a digital tablet. The solution constantly tracks a patient’s cognitive function using digital biomarkers and dynamically personalises tasks and intervention for the patient.
For example, the number and type of tasks and games offered can be adjusted based on the speed of the patient’s finger movements and task completion time.
The software also uses images from the patient’s past to evoke positive memories and emotions, which have been shown to improve cognitive function and reduce depression and anxiety when employed in tandem with other cognitive behavioural therapy techniques.
Using NG-001, Neuroglee claims caregivers and clinicians can monitor patient adherence to prescribed medication and their response to treatment when they are at home. This reduces the burden of care on caregivers by making them more accessible to the patient, allowing them to provide and follow up on care even when not physically present.
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For clinicians, real-time patient insights enable more accurate assessments of both drug and digital therapeutic treatments during in-person visits instead of having to rely on half-yearly check-ups and incomplete patient testimonials.
“The COVID-19 pandemic has highlighted the urgent need for better care models for seniors living with neurodegenerative diseases. Neuroglee’s digital therapeutics platform aims to set the benchmark for a new era of personalised, high quality, integrative care for people with dementia and those at risk,” said Professor Murali Doraiswamy, Co-founding Scientific Advisor at Neuroglee and a leading dementia researcher.
Neurodegenerative diseases affect millions of people worldwide. As per 2015 estimates, one in 10 people aged 60 years and above may have dementia in Singapore.
Back in 2018, the overall global cost spent on dementia was already reported to be as high as US$1 trillion; these costs are likely to rise further due to ageing societies, which will see a corresponding increase in the number of patients with neurodegenerative diseases.
However, developing their cures remains a significant challenge for the field. There has been no new pharmacological therapy approved for Alzheimer’s in the last 15 years. Although clinical studies of investigational drugs in the pipeline are currently underway, there remains an urgent need for adjunctive complementary therapies.
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Image Credit: Neuroglee
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