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Highlights
- Ceretas secures $1 million to further develop its breakthrough ultrasound therapy for dementia.
- Backed by leading investors and strong philanthropic support, the company progresses toward clinical trials.
- The technology could revolutionize neurological treatments by improving drug delivery to the brain.
Australian MedTech company Ceretas has secured $1 million in seed funding to advance its non-invasive ultrasound technology, aimed at treating dementia and other neurological conditions. This funding supports ongoing clinical research and regulatory steps, bringing the company closer to a potential IPO.
Strategic Funding to Drive Innovation
The funding round was led by Ryan Laws, co-founder of EMVision Medical Devices (ASX:EMV), and Sam Wetzler, head of Sequoia Asset Management, part of Sequoia Financial Group (ASX:SEQ). Both are also co-founders and directors of Ceretas, reflecting their confidence in the company’s potential.
“The response from investors has been overwhelmingly positive,” said Laws. “Interest in the technology’s impact, both socially and commercially, led us to accept oversubscriptions and raise a total of $1 million.”
Philanthropic Support Strengthens Development
Donor support has played a crucial role in the progress of this technology. Philanthropists who previously backed research at the Queensland Brain Institute (QBI) participated in this funding round, reaffirming their commitment.
Peter Johnstone, CEO of the Clem Jones Foundation, emphasized the importance of continued support: “Our initial $2 million donation 15 years ago helped kickstart dementia research at QBI, leading to further government and philanthropic funding.”
Addressing a Critical Medical Challenge
Dementia remains a leading cause of death and disability worldwide, with someone diagnosed every three seconds. The Ceretas device aims to overcome the challenges of invasive procedures and ineffective drug delivery.
By using ultrasound technology to stimulate neural circuits, the device offers an alternative to traditional treatments, which often require surgery or fail to reach deeper brain regions effectively.
A Game-Changing Approach
Professor Jürgen Götz, a renowned Alzheimer’s researcher and lead inventor of the technology, believes it could be a breakthrough. “Our approach has the potential to open doors for multiple brain diseases, whether at advanced stages or in younger individuals.”
One major advantage is the ability to temporarily open the blood-brain barrier, facilitating the removal of harmful protein aggregates like amyloid plaques and tau tangles, which are linked to Alzheimer’s disease. This also enhances drug delivery, solving a key challenge in neurological medicine.
Fully Funded Clinical Trials on the Horizon
After a decade of research and $20 million in investment, Ceretas is preparing for a feasibility trial. In August 2023, the Queensland government provided $5 million to fund a scanning ultrasound trial focused on treating behavioral and psychological symptoms of dementia.
Led by the University of Queensland, the trial will recruit patients across multiple sites, providing critical insights into the therapy’s effectiveness.
Industry Leaders Join the Board
To accelerate commercialization, Ceretas recently appointed Dr. Tony Keating as an executive director. Keating, co-founder and former CEO of ResApp Health, which was acquired by Pfizer in 2022, brings extensive expertise in medical technology development.
“Ceretas has all the ingredients for a high-growth startup: breakthrough research, a vast global market, and a top-tier team,” Keating said. “With this technology spun out, we can fast-track clinical and commercial development, ensuring quicker patient access.”
With strong financial backing, cutting-edge technology, and an experienced leadership team, Ceretas is well-positioned to drive innovation in neurological treatments.
