MindMaze said the funds will allow it to accelerate the commercialization of its rehab tools and expand its brain-repair products.
Digital neurotherapeutic platform MindMaze has raised $125 million in funding from AlbaCore Capital Group.
WHAT IT DOES
MindMaze provides digital therapies, like games, to treat and rehab patients with neurological conditions and brain injuries.
Its products include MindMotion Go, which helps improve motor skills, MindPod, which trains cognitive and motor skills for people with neurodegenerative conditions or strokes, and TOAP Run, for patients with Parkinson’s disease.
WHAT IT’S FOR
The company said it will use the new funds to speed commercialization and access to its rehab products, especially in North America and Europe. The capital will also allow it to expand its restorative products aimed at repairing brain damage, via more development and testing in clinical trials.
“This investment by AlbaCore will allow us to accelerate our proven neuro-rehab platform and advance commercialization of our evidence-based neuro-restorative solutions in stroke, traumatic brain, aging 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,” MindMaze founder and CEO Tej Tadi said in a statement.
“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.”
In May, MindMaze announced a number of partnerships to expand its geographical footprint in Latin America, the Middle East, Spain and Switzerland.
Another company focused on digital therapeutics for neurologic care is MedRhythms, which raised $25 million in Series B funding in July.
Flint Rehab, which also builds digital neuro-rehab tools, raised $1.72 million from the National Institutes of Health in 2019.