Pioneer in digital neurotherapeutics MindMaze has raised $125million to drive forward the continued growth and potential of its neurorehab platform.
The business said it now plans to accelerate commercialisation of its SaaS-based platform, particularly in North America and Europe, and expand its neuro-restorative portfolio through further system development and clinical trials in conditions including acute stroke, Parkinson’s disease, Alzheimer’s disease, traumatic brain injury and multiple sclerosis (MS).
MindMaze is already a global leader in digital neurotherapeutics, delivering digital assessments and therapeutics in over 20 countries worldwide to thousands of patients living with neurological conditions.
To date, the business has built collaborations with 90 healthcare providers and has a product portfolio that has received three FDA clearances and four CE marks across eight clinical indications.
Its financing, provided by AlbaCore Capital Group, is one of the top three private capital raises in the European digital health space, and will help to drive forward its plans further still.
“MindMaze is dedicated to improving the lives of patients around the world through the development of novel digital therapeutic products for the treatment of serious neurological conditions,” said Tej Tadi, MindMaze founder and CEO.
“We have built the leading neuro-focused digital health platform comprehensively addressing full body motor and cognitive challenges associated with key neurological conditions. We believe that the demands of a rapidly ageing world population make our proprietary, proven solutions more critical now than ever before.
“This investment by AlbaCore will allow us to accelerate our proven neuro-rehab platform and advance commercialisation of our evidence-based neuro-restorative solutions in stroke, traumatic brain, ageing and Parkinson’s disease.
“One avenue to pursue will be to partner with pharmaceutical companies to promote brain repair by combining our digital therapeutic neurorestorative approach with emerging drug discovery.
“We are thrilled to partner with AlbaCore as we build the leading universal platform for brain health and recovery. This financing will enable our dedicated team and partners to advance in our mission to help patients recover, learn and adapt through advanced neuroscience and digital therapeutics.”
MindMaze’s digital neurotherapeutics platform combines personalised, quantified game-based digital therapeutic content supported by tailored smart peripherals that target two distinct areas of care: neurorehabilitation and neurorestoration.
MindMaze is partnering with leading academic and medical institutions, including Johns Hopkins University School of Medicine, the Mount Sinai Health System and the University of California San Francisco (UCSF) in the United States, the Lausanne University Hospital (CHUV) and the Swiss Federal Institution of Technology (EPFL) in Switzerland, and the Institute for the Brain and Spinal Cord (ICM) in France, to further develop and demonstrate the efficacy of its growing portfolio.
AlbaCore Capital Group’s managing partner and chief investment officer, David Allen, said: “We are excited to partner with MindMaze and empower their critically important mission to change the face of brain health and recovery through advanced digital tools.
“We believe that MindMaze is positioned to dramatically improve care for millions of patients, and with this fresh capital will be able to rapidly scale.”
