Brain-diagnosis software company CogSmart raises 350 million yen in Series A funding

2022/1/6

CogSmart, Inc. (Headquarters: Chiyoda-ku, Tokyo, CEO: Akira Higuchi *1, CSO: Yasuyuki Taki *2, hereinafter referred to as CogSmart), a brain-diagnosis software company, has raised a total of JPY 350 million (approx. USD 3.0 million as of the date hereon) in Series A funding from OMRON Ventures, Irom Group companies, DG Daiwa Ventures, IT-Farm, and MAKOTO Capital. This latest round of funding brings the total amount raised to JPY 410 million (approx. USD 3.6 million as of the date hereon).

CogSmart is a start-up company from Tohoku University that aims to spread the "prevention of dementia from the early stage" through the development of "BrainSuite®", a software that uses AI analysis of brain MRI images designed for people in their 30s to 70s to evaluate the degree of hippocampal atrophy and other factors, and provides tailor-made advices to reduce the risk of dementia in the future.

*1 Attorney-at-law (Bengoshi, Japan) and Solicitor in England and Wales / Institute of Development, Aging and Cancer, Tohoku University

*2 Professor, Institute of Development, Aging and Cancer, Tohoku University, MD., PhD. / Co-Deputy Director, Smart Aging Research Center, Tohoku University

From left to right: Akira Higuchi, President (CEO), Yasuyuki Taki, President and Chief Scientific Officer (CSO)

【Background and purpose of the fund raising】

CogSmart is a medical technology start-up company established in 2019 and originating from Tohoku University. With the vision of "creating a society where people can live healthy lives with the power of neuroscience and technology", CogSmart is engaged in the manufacturing [Note: deleting due to being redundant. The same as below] of medical and healthcare devices for the prevention of dementia from the early stage and the improvement of cognitive functions. One of these services is BrainSuite®, a brain-diagnosis software currently being offered mainly to hospitals and health checkup facilities in Japan.

Our subsidiary, CogSmart Asia Limited, is the first Japanese company to be selected by the Hong Kong Science and Technology Park (HKSTP) for the Incu-Bio program in July 2021, receiving a grant for the coming four years with a maximum amount of HKD 6 million. Dementia is not only an isolated issue in Japan, but also a global one. We believe that the value of CogSmart and Tohoku University's R&D projects has been highly recognized as evidenced by the above achievements, as the stakes are high in tackling dementia by early-stage prevention.

With this funding, CogSmart will continue to take on the challenge of alleviating societal issues by promoting further research and development and expanding its business both in Japan and overseas.

【Introduction to CogSmart's Business】

■ "BrainSuite®" software for brain check

The most common form of dementia is Alzheimer's disease, and it is known to be a "lifestyle disease," so to speak, caused not only by a genetic predisposition but also by a combination of lifestyle factors such as diet, exercise, sleep, and stress. The latest research has shown that at least 40% of dementia risk factors can be changed through improvements on lifestyle traits. Alzheimer's disease begins with the atrophy of the hippocampus, the part of the brain responsible for memory. To effectively prevent the onset of dementia, it is very important to start from the moment when you first notice the signs, even in your 30s or 40s; not when you are about to retire.

BrainSuite®, an optional service for brain MRI check-ups (brain screening in Japan) provided by CogSmart, measures and evaluates the volume and degree of atrophy of the hippocampus by using AI analysis technology of brain MR images, and visualizes the health of the brain compared to others of the same sex and generation. Subjects can be healthy adults from their 30s to 70s.

By visualizing the health status of the brain, the service provides "awareness" for behavioral changes and offers advice on how to maintain and improve the health level of the brain, thereby supporting the realization of a "life-long healthy brain without dementia" from the perspective of evidence-based neuroscience.

● BrainSuite official websit (Japanese)

https://www.brainsuite.jp/

● Contact form for contracted medical institutions (Japanese)

https://www.brainsuite.jp/search

■ Brain MR image analysis software contract development business, etc.

Taki laboratory at the Tohoku University has a long history of research on medical image analysis using a large-scale brain MRI database, which has been highly evaluated in academic journals and conferences over the world. CogSmart has been developing image analysis software in close collaboration with Tohoku University.

In addition to the above, we also offer a wide range of other services such as software development, data analysis, and consulting on neuroscience and disease or symptom on brains. In addition to our highly acclaimed image analysis technology, we have the unique advantage of being able to utilize a wide range of medical images.

【Introduction to our investors on Series A funding】