Altoida Inc. today announced a $6.3 million round of venture capital financing to bring its FDA-cleared and CE Mark-approved medical device and brain health data platform to patients, physicians and researchers around the globe. Led by a team of esteemed neuroscientists, physicians and computer scientists, Altoida uses digital biomarkers to drive better clinical outcomes for brain disease.<\/p>\n\n\n\n
The Series A round was led by M Ventures, the corporate venture capital arm of the science and technology company Merck KGaA, Darmstadt, Germany, with participation from Grey Sky Venture Partners, VI Partners AG, Alpana Ventures, and FYRFLY Venture Partners. The new capital will be used to further expand Altoida\u2019s global presence with an immediate focus on commercialization activities in the US and EU markets.<\/p>\n\n\n\n
\u201cAltoida is at the forefront of a new era to leverage Artificial Intelligence and Machine Learning to assess brain health,\u201d said Alexander Hoffmann, Principal, New Businesses at M Ventures. \u201cOur investment reflects our belief that digital biomarkers are the future and might lead to earlier diagnosis, and potentially better supportive care for a wide range of brain diseases. Altoida promises to deepen our understanding of brain health and contribute with positive impact on medicine and society.\u201d<\/p>\n\n\n\n
Altoida offers healthcare professionals a novel way to objectively assess cognitive and everyday functions, in the most ecologically valid way, prior to the onset of symptoms. The company\u2019s FDA cleared and CE Mark-approved medical device leverages the latest advancements in artificial intelligence, machine learning and augmented reality to collect functional and cognitive biomarkers to help detect Alzheimer\u2019s disease up to ten years prior to onset \u2013 with up to 94% accuracy.<\/p>\n\n\n\n
\u201cSearching for early, more accurate and scalable preclinical markers of Alzheimer\u2019s disease has been the holy grail for clinicians, researchers and pharma companies alike that are trying to predict Alzheimer\u2019s-type cognitive decline and develop early interventions,\u201d said Dr. Ioannis Tarnanas, PhD, Founder and Chief Scientific Officer at Altoida (an ETH University Zurich spin-off). \u201cThe ability of Altoida\u2019s digital biomarkers platform to collect very sensitive and ecologically valid markers of early functional and cognitive changes in the most scalable way, by using only a mobile phone or tablet, is unmatched by today\u2019s medical tests and a game changer for the field.\u201d<\/p>\n\n\n\n
Altoida\u2019s product analyzes visuospatial and executive function during complex activities of daily living through a battery of three tests that ask patients to hide and seek virtual objects in a physical space. The company has validated its platform and methodology in more than 12 peer-reviewed journal publications and in more than 200 independent studies. It is currently being used in clinics across the US, Europe and Brazil.<\/p>\n\n\n\n
\u201cWhile we know that early detection of Alzheimer\u2019s is the key and leads to better outcomes, only 16% of seniors today receive regular assessments in the US, and this situation becomes more critical as we look at other geographic regions,\u201d said Dr. Richard Fischer, Founder & CEO at Altoida. \u201cToday\u2019s diagnostic methods are either outdated, costly and invasive, or highly nuanced. We are taking aim at this acute problem with a fast, fun, accurate and scalable AI-driven solution that collects digital biomarkers to predict the onset of Alzheimer\u2019s as early as ten years before symptoms appear \u2013 we like to call them \u2018micro errors\u2019. Our software or app is designed to be used by a wide range of healthcare professionals, from primary care physicians (GP\u2019s) to neurologists to insurance companies, in order to make early detection accessible to more people around the world with the goal of significantly delaying the onset of MCI due to AD \u2013 and resulting in an overall cost reduction.\u201d<\/p>\n\n\n\n
Taking Aim at the Alzheimer\u2019s Disease Epidemic<\/strong><\/p>\n\n\n\n The number of people living with Alzheimer\u2019s disease is rapidly growing. In 2019 alone, Alzheimer\u2019s disease and other dementias will cost the nation $290 billion. By 2050, these costs could rise as high as $1.1 trillion. Yet, research shows 1 in 3 dementia cases are preventable if diagnosed\u00a0before permanent and irreversible brain damage occurs.<\/p>\n\n\n\n Altoida\u2019s digital biomarkers harness advances in technology to detect brain changes early in the disease process, helping to accelerate early diagnosis for better clinical outcomes. Using an iPad or a Tablet accelerometer, gyroscope and touch screen sensors, Altoida is able to detect \u201cmicro-errors\u201d as both a prognostic and diagnostic digital biomarker. The result is that medical professionals are able to detect Alzheimer\u2019s disease in patients 62+ years old between six and ten years prior to the onset of symptoms \u2013 and before irreversible damage occurs.<\/p>\n\n\n\n \u201cAs the world\u2019s effort to introduce meaningful therapies for Alzheimer\u2019s disease inches closer and closer to success, it is clear that the greatest benefit will come to those whose disease is detected at a very early stage,\u201d said Jonathan L. Liss, MD, Director at Columbus Memory Center and Founder of Columbus Memory Project, who has been using Altoida\u2019s technology since September 2018. \u201cThe Altoida Neuro-Motor Index (NMI) device offers an ingenious way in which to detect early disease and track progression without prolonged cognitive testing, tissue sampling, or radiologic intervention. The Altoida NMI device is a welcome advancement to the field of cognitive health.\u201d<\/p>\n\n\n\n \u201cAltoida has the potential to be a ubiquitous Alzheimer\u2019s screening and monitoring tool that is safe, effective and leads to better patient outcomes, and as rolled out more broadly, could significantly lower health care costs,\u201d said Philipp Stauffer, Co-Founder and Managing Director at FYRFLY Venture Partners. \u201cUnlike other detection solutions that collect passive data or only focus on a single behavior, Altoida collects a wide range of \u2018active\u2019 digital biomarkers as the patient is moving and completing tasks. They\u2019ve amassed a vast dataset that not only helps them diagnose Alzheimer\u2019s with unprecedented accuracy, but is tremendously valuable for ongoing research.\u201d<\/p>\n\n\n\n Collected over the last 12 years, Altoida also offers its comprehensive digital biomarker dataset to researchers and major pharmaceutical companies who want to leverage pre-symptomatic data to enhance both treatment and drug R&D. Today, the company is working on two joint research collaborations with large pharmaceutical companies in both the United States and Japan.<\/p>\n\n\n\n Additional Comments on the News<\/strong><\/p>\n\n\n\n \u201cDeveloping enhanced methods to objectively evaluate cognitive function is a critical component of the next generation of digital medicine \u2013 a component that is required to not only advance the basic research in neurodegenerative disease, but also one that is required for the development of improved clinical interventions.\u00a0Altoida\u2019s novel approach to developing digital biomarkers of cognitive function will promote the elaboration of specific \u2018biotypes\u2019 of neurodegenerative disease. Understanding neurodegenerative biotypes will dramatically improve our ability to conduct a differential diagnosis at the primary care level.\u00a0Improved diagnostics will provide healthcare professionals with the key information necessary to precisely adapt clinical interventions to personalize the patient\u2019s cognitive care. This will ultimately lead to improved outcomes of care and to reduced healthcare costs.\u201d Dr. Walter Greenleaf, PhD, a neuroscientist and Distinguished Visiting Scholar working at the Stanford University Virtual Human Interaction Lab.<\/p><\/blockquote>\n\n\n\n \u201cDiagnosis of an individual at risk for Alzheimer\u2019s disease has been the biggest challenge in the field of Alzheimer\u2019s disease and the Altoida, NMI digital biomarker technology has provided us with an innovative tool to detect the onset of Alzheimer\u2019s disease in a reliable and gamified fashion.\u201d \u2013 Dr. Namrata Das MD, MPH, Center for BrainHealth, The University of Texas at Dallas,\u00a0who has been using Altoida\u2019s NMI device for the past year.<\/p><\/blockquote>\n\n\n\n \u201cThe earlier cognitive impairment is detected, the sooner and more efficiently the brain can be protected. The Altoida NMI device is applicable in the direct care of patients today and for research to help provide the next generation of therapeutic products. A test that is easy to obtain, simple to perform, readily available, affordable, instantly diagnostic, reliable and can establish efficaciousness is a remarkable breakthrough in medicine.\u201d \u2013 Charles\u00a0Neblett,\u00a0MD,\u00a0Neurosurgeon \u2013 Baylor College of Medicine and Consultant \/ Medical\u00a0Director\u00a0at McNair\u00a0Medical\u00a0Institute, Houston TX.<\/p><\/blockquote>\n\n\n\n \u201cWe have been testing the Altoida\u00a0NMI\u00a0app\u00a0since June 2018\u00a0in specific\u00a0clinical\u00a0settings, and the\u00a0technology\u00a0looks extremely promising. It is exactly what we have been looking\u00a0for to improve our\u00a0day-to-day routine, since prevention of cognitive\u00a0decline\u00a0in persons at risk of Alzheimer\u2019s disease \/ MCI due to AD, and therefore prolonging the onset of AD, is\u00a0much more\u00a0effective\u00a0than treating\u00a0already advanced\u00a0patients. Altoida\u2019s cognitive\u00a0assessment device assists\u00a0clinicians\u00a0in identifying\u00a0these individuals at risk before they become symptomatic.\u201d \u2013 Dr. med. Henry Perschak,\u00a0Klinik\u00a0Hirslanden,\u00a0Z\u00fcrich<\/a>.<\/p><\/blockquote>\n\n\n\n About M Ventures<\/strong><\/p>\n\n\n\n M Ventures is the strategic, corporate venture capital arm of Merck KGaA, Darmstadt, Germany. Its mandate is to invest in innovative technologies and products with the potential to significantly impact the company\u2019s core business areas. From its headquarters in Amsterdam and offices in the US and Israel, M Ventures invests globally in transformational ideas driven by great entrepreneurs. M Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success. M Ventures has a significant focus on early stage investing and company creation, including the creation of spin-offs to leverage the company\u2019s science and technology base. For more information, visit\u00a0www.m-ventures.com<\/a>.<\/p>\n\n\n\n About Altoida<\/strong><\/p>\n\n\n\n Altoida Inc. is a health technology firm that uses digital biomarkers to drive better clinical outcomes for brain diseases. Led by a team of esteemed neuroscientists, physicians and computer scientists, the company offers a FDA-cleared and CE Mark-approved medical device and brain health data platform to support early detection of Alzheimer\u2019s disease up to ten years prior to onset \u2013 with up to 94% accuracy. The company is privately held with offices in Houston, San Diego, and Lucerne, Switzerland.<\/p>\n","protected":false},"excerpt":{"rendered":" Altoida Inc. today announced a $6.3 million round of venture capital financing to bring its FDA-cleared and CE Mark-approved medical device and brain health data platform to patients, physicians and researchers around the globe. Led by a team of esteemed neuroscientists, physicians and computer scientists, Altoida uses digital biomarkers to drive better clinical outcomes for Read the full article…<\/a><\/p>\n","protected":false},"author":3,"featured_media":169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":[],"categories":[8,3,5],"tags":[],"_links":{"self":[{"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/posts\/528"}],"collection":[{"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/comments?post=528"}],"version-history":[{"count":2,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/posts\/528\/revisions"}],"predecessor-version":[{"id":530,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/posts\/528\/revisions\/530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/media\/169"}],"wp:attachment":[{"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/media?parent=528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/categories?post=528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/design4paper.com\/vipartners-test-live\/wp-json\/wp\/v2\/tags?post=528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}