Neotiv GmbH closes €10m seed financing
German Neotiv GmbH hat closed a €10m seed financing to speed-up product launch of its early diagnosis app for Alzheimer's disease
In light of the high-profile Phase III Clarity trial results of Esai/Biogen’s Alzheimer’s protofibril inhibitor lecanemab, early diagnosis of Alzheimer’s disease is taking on new importance. Germany-based Neotiv GmbH has closed a €10m pre-Series A funding round and plans to use the money to launch its neotivCare® app for early Alzheimer’s detection internationally.
The financing was led by Capricorn Partners, High-Tech Gründerfonds and bmp with IBG Funds. In addition, Convergence Partners, RSJ Investments as well as Sana Future GmbH and Vega Ventures are participating.
The neotivCare® app, a CE-certified risk class 1 medical device, uses digital memory tests to help affected individuals detect cognitive impairment (MCI) at an early stage and begin therapy when brain degeneration is not yet very advanced. Worldwide, the number of dementia patients with Alzheimer’s disease is estimated at 32 million. Another 69 million are in the prodromal phase of the disease, which indicates mild cognitive impairment (MCI) based on initial episodic memory problems.
“Diagnosing the memory deficits typical of MCI in routine care is a major challenge because available screening methods fail to capture them. This is where neotiv comes in,” explains Dr. David Berron, Chief Science Officer and co-founder of neotiv.
Although Alzheimer’s is not currently curable, the Clarity Trial has given the amyloid-beta hypothesis a boost, and Lecanemab’s chances of approval in the U.S. and Europe have increased.
