PALERMO, November 6th, 2024 - Restorative Neurotechnologies (RNT), a medtech and service platform operator in digital therapies for cognitive rehabilitation and neurology, today announced it has raised €3 million in a Series A funding round to accelerate significantly the market entry and growth of MindLenses, its innovative and portable digital therapy for the rehabilitation of the cognitive functions of patients in post-stroke or suffering from ADHD (Attention/Deficit Hyperactivity Disorder) and dyslexia. Since 2023, Mindlenes, a Class IIa CE-marked SaMD (Software as a Medical Device), has already been adopted by leading 50 hospitals in Italy. The fundraising will allow and support the integration of MindLenses into the healthcare systems of the main European countries.

The founding was co-led by Cdp Venture Capital Sgr, through Italia Venture II Fund and Fondazione ENEA Tech e Biomedical with the contributions and reinvestment of historical investors namely MMP (Manilo Marocco Partners) and IAG (Italian Angels for Growth). On-going discussions are taking place with two additional new investors interested to join and invest an additional 1M € before year end.

“This funding is pivotal for the next phase of our growth,” said Laurent Vandebrouck, CEO of RNT. “With the backing of CDP Venture Capital and Fondazione ENEA Tech e Biomedical, we are now ready to accelerate the adoption of MindLenses Professional™ across Europe, allowing more patients to access this innovative therapy and achieve faster cognitive recovery. This Series A round reinforces our leadership in the digital therapy space and our commitment to expanding into new clinical applications, such as Mild Cognitive Impairment (MCI) and early dementia.”

MindLenses Professional^™, today CE-marked for post-stroke cognitive rehabilitation, is a non-invasive digital therapy for intervention in neurological diseases. It combines neuromodulation technology (prismatic adaptation) together with a digital application developed by neurologists and psychologists and used by the patients, while a Web portal allows physicians to access clinical and patient outcomes data. The main competitive advantages of MindLenses Professional™ consist in a shorter protocol (10 days) instead of weeks or months for the alternatives, leading to tangible empowerment in daily activities and longer lasting clinical benefits compared to traditional rehabilitation.

Two clinical trials carried out during the last three years in collaboration with major hospitals have demonstrated the clinical performances and benefits of MindLenses Professional™ for the rapid rehabilitation of impaired cognitive functions (among which attention, language, memory and ability to interact socially) of patients following a stroke. Similar clinical evidence and performances have been demonstrated for the cognitive support of patients with neurodevelopmental conditions (particularly ADHD and Dyslexia) and neurodegenerative pathologies (such as MCI, a condition that can be a precursor of dementia).

Over 2000 patients in Italy have already benefited from MindLenses Professional™ as part of their cognitive rehabilitation treatment, either through clinical trials or through the prescription of the therapy by their clinician. The funding will enable post-stroke patients in Europe to access MindLenses Professional^™, leading to long-term positive effects on their cognitive health, which will, in turn, enhance their overall quality of life.

“Since June this year, MindLenses Professional™ is already eligible for inclusion in reimbursement pathways within national public health systems in Europe,” said Massimiliano Oliveri, neurologist, founder and Chief Scientific Officer of RNT. “This financing round will allow us to fund procedures to enter national healthcare systems in Europe, including reimbursement paths reserved to CE-marked digital therapies, and develop and deliver MindLenses benefits to new use cases and pathologies in neurological diseases, such as Alzheimer’s.”

 

Additionally, the product’s regulatory path will continue with the submission of the application for FDA approval to bring MindLenses Professional™ to the U.S. market. Finally, a consumer version of the device will make optimal cognitive health accessible to a non-clinical audience.