Singapore-based healthtech startup that specializes in evidence-based, prescription digital therapeutics for neurodegenerative diseases Neuroglee Therapeutics, announced it has secured a US$2.3 million in pre-seed investment.
The round of financing was led by Eisai, a Japanese global pharmaceutical company with participation from Kuldeep Singh Rajput, Founder & CEO of Biofourmis.
According to the press release the fresh capital will be invested in product development for their premier product NG-001 which is meant for the treatment and management of patients with early stages of Alzheimer’s Disease.
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.
“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.
“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.