[September 30, 2014] |
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Cognoptix Raises over $15 Million to Fund Pivotal Clinical Trial and Final Product Development of Eye Test Designed to Identify Early-Stage Alzheimer's Disease
ACTON, Mass. --(Business Wire)--
Cognoptix, an emerging medical device company that is developing
the SAPPHIRE II eye test designed to identify Alzheimer's Disease
(AD) patients via a beta-amyloid (A-beta) signature in their eyes,
announced today that it has closed the first tranche of a Series D round
of financing totaling over $15 million. The round was co-led by new
investor Alopexx and existing investor Inventages, with participation
from original investor, Launchpad Venture Group.
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By detecting a specific fluorescent signature of ligand-marked A-beta in
the supranucleus region of the human lens, SAPPHIRE II achieved a
sensitivity of 85% and a specificity of 95% in differentiating 20
patients who were clinically diagnosed with probable AD from a group of
20 age-matched healty volunteers in a Phase II clinical trial. In
addition, the SAPPHIRE II test showed superior correlation to PET
(positron emission tomography) amyloid brain imaging, with 95%
specificity for SAPPHIRE II versus 80% for PET brain imaging.
This Series D investment will fund the pivotal trial, the final stages
of product development, and allow the Company to complete the FDA
registration process. Cognoptix will then be uniquely positioned in
offering an office-based test that enables earlier diagnosis of AD.
"We are proud to invest in Cognoptix, whose SAPPHIRE II eye test has
shown great promise to upgrade the standard by which Alzheimer's Disease
is currently diagnosed and managed," said Dr. Daniel Vlock, CEO
of Alopexx Enterprises.
"Inventages continues to be committed to investing in and supporting the
development of products, both diagnostics and therapeutics, in the field
of dementia. Alzheimer's disease is one of the biggest challenges faced
by our healthcare systems today; accordingly we are delighted to
continue our support of Cognoptix through the final stage of development
of this innovative and game-changing technology," said Dr. Gunnar
Weikert, Managing Director of Inventages.
"The safety and efficacy of our product have been established and
results published in a well-respected, peer-reviewed journal," said Paul
Hartung, President and CEO of Cognoptix. "With this new funding, we
expect to complete the clinical development of our SAPPHIRE II eye test
and help change the course of Alzheimer's disease by enabling early
diagnosis at point-of-care."
About Cognoptix
Cognoptix, a privately held medical technology company headquartered in
Acton, Mass., is focused on developing and commercializing an in-office,
drug/device diagnostic system as an aid in the early detection of
Alzheimer's Disease (AD). Its investors include Alopexx Enterprises,
Inventages Venture Capital, and Launchpad Venture Group.
NOTE: The SAPPHIRE II system is approved for investigational use only in
the United States.
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