The global rate of dementia at present is around 50 million, and WHO predicts it to rise to a triple count by 2050. Alzheimer’s is one of the leading causes of dementia, and people often suffer more with less financial support. In such a time, Neuroglee, a Singapore-based healthcare startup, is offering to help by developing a digital therapeutic platform designed to treat patients in the early stages of the disease.
The company recently announced that it raised a whopping $2.3 million for the pre-seed funding process. The funding earned will be used to improve the product pipeline for the product NG-001.
The funding round was led by Eisai Co- one of the largest pharmaceutical companies in Japan along with Kuldeep Singh Rajput, who is the founder and CEO of predictive healthcare startup Biofourmis.
Healthcare Startup Neuroglee
Neuroglee Therapeutics builds and develops evidence-based and prescription digital therapeutics for neurodegenerative diseases. The organization discovers, develops, and commercializes tech-based and digital therapies to fill the void and need for complementary therapies that can treat neurodegenerative diseases.
These technologies are developed in parallel with the pharmacotherapies. The company combines the high efficient closed-loop cognitive intervention strategies with significant biomarkers to product prescription software that can be collaborated with pharmacotherapy for better patient management.
“The field of neurodegenerative diseases is an underserved market and also is constantly growing. With the enhanced power of software, Neuroglee combines the developed tech in cognitive neuroscience and digital biomarkers to create a digitized form of treatment that augments conventional medication processes and bridges the gap between the patient and the therapist.
We are excited to collaborate with Eisai and the leading experts of scaling digital health solutions to bring a better lifestyle quality for patients and caregivers,’ stated Aniket Singh Rajput, Founder and CEO of Neuroglee.
Developing Revolutionary Digital Therapeutics
NG-001 is the pioneering product by Neuroglee and helps patients who have early-stage Alzheimer’s disease by delivering advanced software-based cognitive intervention at home itself. The product uses state-of-the-art artificial intelligence and offers engaging techniques and tasks for the patient on a tablet. The patient’s solution tracks their cognitive function with digital biomarkers and introduces methods and treatment for the patient.
The product’s tasks and games can be adjusted based on the speed of the patient’s finger movements and task completion time. The tool also uses images from the patient’s records to initiate positive emotions, which simultaneously improves cognitive function and reduces depression and anxiety.
With this pioneering product, NG-001, the therapists and caregivers can easily monitor patient adherence to the prescribed medication and treatments at home. It also reduces the burden on caregivers giving them more accessibility to the patient and their health tracking. For the clinicians, the product offers a continuous and real-time report of the patient at home to offer more accurate assessments of both drug and digital treatments.
Neuroglee plans to start the clinical trials for the NG-001 product in early 2021 and plans to open the US operations across Boston by 2021.