mind mazewhich primarily employs a software-based gamification approach to the treatment of neurological diseases and injuries, announced thursday It has secured $105 million in new funding.
The round was led by healthcare private equity firm Concord Health Partners. Previous investors – AlbaCore Capital Group and Hambro Perks – also participated.The latest funding is in Raised $125 million The company announced in October.
MindMaze, which has offices in Lausanne, Switzerland, London and Baltimore, plans to use the funding to support key company priorities. These include product development, clinical evidence generation, commercial growth, and strategic device and product partnerships, company founder and CEO Tej Tadi said in an email provided by representatives.
“The main focus will be on consolidating and building a global clinical and commercial pipeline,” Tadi said.
He noted that the company is currently targeting eight indications: stroke, Parkinson’s disease, multiple sclerosis, Alzheimer’s disease and mild cognitive impairment, spinal cord injury, autism, pain and aging/frailty.
Video games are increasingly being used as a treatment for a range of health applications.For example, Akili Interactive and Brainboost take a gamification approach to treating cognitive deficits and neurological disorders.others have Potential of virtual reality to reduce pain studied Among hospitalized patients, the promise of digital therapeutics in clinical applications is highlighted.
It was MindMaze’s use of digital therapeutics that attracted investment and accolades from Concord Health Partners.
James Olsen, founder and managing partner of Concord, said in a statement: “MindMaze develops leading technologies and approaches for digital therapeutics for neurorehabilitation and recovery, delivering clear benefits to patients, providers and payers. “We believe this remarkable advance in therapy and therapy will meaningfully improve brain health and recovery in a variety of conditions.”
As a fund, Concord brings strategic value and relationships to its portfolio — the American Hospital Association is one of its partners, Tadi said. So, thanks to Concord’s investment, MindMaze will partner with the AHA and gain access to its network of providers and payers.
Combined with expanded market access, Tadi believes the company’s gamification approach and ability to personalize treatments based on individual needs and neurological deficits will help the company achieve its long-term goals. This includes goals that impact the quality of life of millions of patients, families and caregivers.
“So they were able Constantly engage and train while monitoring their performance,” says Tadi. “This increases intensity and dose while doing wonders for motivation. The interactive content is designed to repair the brain and maintain gains; he said it represents a major change in care delivery and disease management.
Image credit: DrAfter123, Getty Images
