Over-subscribed Series D round co-led by Alopexx Enterprises LLC and Inventages “Our clinical trial results strongly suggest that the Cognoptix SAPPHIRE II eye test may alter the course of Alzheimer’s Disease by enabling early, reliable and cost-effective diagnosis of the disease at point-of-care.” Paul Hartung, CEO
ACTON, Mass.–(BUSINESS WIRE)–September 30, 2014–
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.
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 healthy 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.”
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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