PURCHASE, NY, Jan. 10, 2022 (GLOBE NEWSWIRE) – Cognition Therapeutics, Inc. (Nasdaq: CGTX), a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative small molecule therapies targeting degenerative diseases associated with the ‘age and disorders of the central nervous system and retina (the “Company” or “cognition”), today presented a summary of the Company’s accomplishments in 2021 and outlined the upcoming steps planned for the coming year.
Main financial achievements of 2021
Initial public offering: On October 13, Cognition closed its larger IPO, and in mid-November, the underwriters over-allotment option was exercised to purchase additional shares of the company’s common stock, bearing the total gross proceeds at approximately $ 52 million. $ 45 million in NIA grants: Cognition received a $ 30 million grant from the National Institute on Aging (NIA) to support a planned Phase 2 study of CT1812 in
Lewy body dementia
(DLB). The company received an additional grant from the NIA to conduct absorption, metabolism and excretion studies in humans (hAME) ($ 1.6 million) and to complete the Phase 2 SHINE study ( COG0201) ongoing on CT1812 ($ 13.6 million). In 2020, Cognition experienced a temporary delay in recruiting and treating patients in the SHINE trial due to the COVID-19 pandemic. With additional capital from the NIA, Cognition resumed participating in the trial.
Main operational achievements of 2021
Leadership Team: Anthony Caggiano, MD, Ph.D., has been appointed to the position of Chief Medical Officer and Head of R&D. Additionally, Mary Hamby, Ph.D., has been promoted to Vice President of Research. Together, Drs. Caggiano and Hamby will oversee the ongoing and planned trials of CT1812 for the treatment of mild to moderate Alzheimer’s disease,
age-related dry macular degeneration
(Dry AMD) and DLB, as well as the identification and optimization of preclinical candidates. Composition of the Board of Directors: Cognition has appointed Ellen B. Richstone to the Board of Directors. She chairs the audit committee.
Main achievements of the 2021 pipeline
Basic science: results supporting the role of sigma-2 (σ-2) receptors in the pathology of Parkinson’s disease (
doi: 10.1002 / jnr.24782
) and in Alzheimer’s disease (
doi: 10.1111 / jnc.15212
) were published in January 2021. Clinical Trials: The SNAP clinical study (COG0104) was completed and demonstrated displacement of the Aβ oligomer as measured in CSF, providing evidence of target engagement and confirmation of the unique mechanism of action of CT1812. The SPARC study (COG0105) was also completed in 2021, providing evidence that CT1812 slowed brain atrophy in patients with mild to moderate Alzheimer’s disease, as assessed by brain volume. The full results of SNAP and SPARC will be presented at future medical meetings. Expansion to New Indications: Clinical programs have been established in DLB and dry AMD and discussions with regulatory bodies and clinical sites have started.
“2021 has been a year of transformation for Cognition Therapeutics. We completed our IPO, secured significant additional non-dilutive funding and advanced our product portfolio by building a product portfolio in addition to our lead candidate CT1812, ”said Lisa Ricciardi, President and CEO of Cognition Therapeutics. “We plan to build on our momentum in 2022 to advance our ongoing and planned studies, come up with new compounds to expand the pipeline. Through these efforts, we aim to create shareholder value and advance drugs for Alzheimer’s disease and other neurodegenerative diseases.
Objectives and key initiatives for 2022
Advance the Alzheimer’s Disease Clinical Trials Consortium (ACTC) Phase 2 study with 540 patients with early-stage AD, assessing cognition and biomarkers. This trial is funded by an $ 81 million grant from the NIA Enroll the latest cohort in the ongoing SHINE trial, enrolling 120 patients with mild to moderate Alzheimer’s disease. An interim analysis demonstrated a clinically significant three-point change in ADAS-COG scores at day 185 and a statistically significant reduction in Aβ protein in the treated arm. This study is funded by a $ 30 million grant from the NIA Expanding the pipeline with the Phase 2 Dry AMD Study and the DLB Studies, the latter being funded by a $ 30 million grant from the NIA. the NIA. Advanced preclinical work in Parkinson’s disease evaluating two – 2 modulators for clinical development. This project is funded in part by a grant from the Michael J. Fox Foundation.
Starting today, Cognition Therapeutics will participate in one-on-one meetings during the annual JP Morgan Healthcare conference week, January 10-14, 2022, and will be presenting at the Biotech Showcase, titled “Aduhelm Stimulating the Next Generation of AD treatment. In addition, Cognition is participating today in the opening ceremony of the Nasdaq bell, dedicated to the health sector.
About Cognition Therapeutics: Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative small molecule therapies targeting age-related degenerative diseases and disorders of the central nervous system, or CNS, and the retina. Our goal is to develop disease-modifying therapies for patients with these degenerative disorders by initially leveraging our expertise in the sigma-2 (σ-2) receptor, which is expressed by several cell types, including neuronal synapses, and acts as a key regulator of cellular damage commonly associated with certain degenerative age-related CNS and retinal diseases. We believe that targeting the σ-2 receptor complex represents a mechanism that is functionally distinct from other current approaches in clinical development for the treatment of degenerative diseases.
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Contact Information: Cognition Therapeutics, Inc. [email protected]
Aline Sherwood (media) Scienta Communications [email protected]
Lisa Sher (investors) Tiberend Strategic Advisors, [email protected]