A biotechnology company developing a wearable, drug-free treatment for Alzheimer’s has raised US$1.33m in the first stage of a planned US$5m equity round.
NeuroEM Therapeutics is working to commercialise a cap that delivers electromagnetic pulses to the brain as a way of slowing or reversing cognitive decline.
The equity round was led by BlueLake.vc, with partner Jamie Rutledge joining NeuroEM’s board.
Rutledge brings more than 25 years of experience, having held senior roles at Dyson and Lenovo, where he led strategic venture capital and innovation programmes.
Chuck Papageorgiou, chief executive of NeuroEM Therapeutics, said: “BlueLake’s support demonstrates the importance of maintaining our momentum in the execution of key clinical, regulatory, and commercial milestones on our journey toward a safe, effective, drug-free treatment for Alzheimer’s dementia and other neurodegenerative diseases,” said
“It fuels the tireless efforts of our researchers, clinicians, engineers, and the entire NeuroEM team to restore the hope and dignity Alzheimer’s disease has already stolen from millions and to one day prevent millions more from facing this devastating diagnosis.”
The device uses radio frequencies – a form of electromagnetic energy – and is intended for use at home.
The treatment, known as Transcranial Electromagnetic Treatment using Radio Frequencies (TEMT-RF), targets brain changes linked to Alzheimer’s and other neurodegenerative diseases.
According to the company, early studies suggest the approach may improve cognitive function and potentially modify the course of disease.
The lightweight cap, worn for one hour twice a day, delivers short pulses of energy at ultra-high frequencies.
The company says this may help reduce cognitive decline, restore immune balance in the brain and blood, and boost energy production in brain cells. It is the company’s first commercial product and has shown early promise in both preclinical and clinical studies.
The funding will support further development and regulatory progress.
The approach stems from over a decade of research initially carried out at the University of South Florida. NeuroEM is also a member of StartUp Health’s Alzheimer’s Moonshot initiative.
NeuroEM’s device received the first Breakthrough Device designation from the US Food and Drug Administration for an Alzheimer’s treatment – a status intended to fast-track technologies for serious or life-limiting conditions.