Sofia Fund recently announced its third investment in Cognition Therapeutics, Inc. (CogRx), a Pittsburgh-based biopharmaceutical company that discovers, develops and manufactures innovative therapeutics for the treatment of Alzheimer’s disease and other neurocognitive disorders.
The Sofia Fund investment was part of Cognition Therapeutic’s most recent financing round, through which the company hopes to raise up to $5 million.
“CogRx continues to hit its milestones, which are significant advancements in the development of breakthrough drugs that protect synapses, stopping the memory loss associated with Alzheimer’s disease,” said Cathy Connett, managing partner of Sofia Fund, and a 25-year angel investor in early stage companies, particularly those that are women-led. “We believe in the value proposition of the company. Its products address a significant problem – the threat of Alzheimer’s – that affects a large population: five million people in the U.S. alone currently live with the disease.” Connett adds that the investment team at Sofia Fund also recognized the strength of the company’s diverse leadership team and its vision.
“Sofia Fund has been a strong funding partner from the start,” said Cognition Therapeutics Chief Science Officer Dr. Susan Catalano, who co-founded the company in 2007. “This investment in our research comes at a critical time. We are about to begin key clinical trials with Elayta™ (CT1812) in Alzheimer’s disease patients in the United States. Alzheimer’s is the sixth-leading cause of death in this country, killing more people each year than breast and prostate cancer combined.”
Cognition is focused on advancing the development of Elayta, an experimental medicine that is designed to protect synapses from one of the toxic proteins that causes Alzheimer’s disease.
About Cognition Therapeutics, Inc.
Cognition Therapeutics is a privately held biopharmaceutical company developing a pipeline of disease modifying small molecule drug candidates to treat neurocognitive disorders. Cognition’s lead candidate, Elayta, is a proprietary first-in-class, orally available small molecule in development for the treatment of mild-to-moderate Alzheimer’s disease. Elayta and Cognition’s other pipeline candidates were identified using the company’s disease-relevant screening and novel chemistry platforms. Additional information about Cognition and its product candidates may be found online at http://www.cogrx.com.
About Sofia Fund
Sofia Fund invests in and grows exceptional women-led companies to maximize returns for investors by bringing its portfolio companies successfully to profitable exits. Sofia Fund uses a rigorous process for selecting and investing in high-growth, technology-driven opportunities. Its team of professional women angel investors actively manages and supports its portfolio businesses, leveraging deep expertise and broad networks to help women entrepreneurs achieve success. Its investment team has invested more than $10 million in 50 companies to date. For more information about what makes a business fundable, see http://sofiafund.com/angels-tell-the-truth-what-makes-a-new-company-fundable/. For more information about Sofia Fund, visit www.sofiafund.com.