«Alto Neuroscience, which uses AI to identify biomarkers to develop targeted psychiatric medicine options, announced it had closed a $25 million equity investment with new investor Alpha Wave Ventures and entered into a credit facility for up to $35 million with K2 HealthVentures.»

«The Series B extension brings the round to about $60 million. The company will use the funds to continue growing its Precision Psychiatry Platform, which evaluates brain biomarkers using wearable data, EEG activity, genetics, behavioral task performance and other factors to match patients with an Alto drug.»

«The funds also support the company through the completion of Phase 2 trials with four of its novel drug candidates.»

Article written by Jessica Hagen



Mobi Health News