Monument Therapeutics secures £850k to advance breakthrough schizophrenia treatment
Summary
Cognitive impairment associated with schizophrenia (CIAS), a core symptom of the condition, impacts memory, attention, and executive function, significantly reducing patients quality of life. MT1988 has shown excellent pre-clinical results, with substantial cognitive improvement produced by combining two well-characterised small molecules that act on nicotinic receptors. The drug is intended to be used alongside existing antipsychotic medications, offering a complementary solution for patients.This latest funding will support the progression of MT1988 through further clinical development, with Phase 1 results expected in Q2 2025.Dr Jenny Barnett, CEO of Monument Tx, said: The development of new treatments in neuroscience has historically been hindered by the difficulty of identifying the right patients for the right drugs. At Monument, we use digital biomarkers to better match patients with targeted treatments, a strategy we call precision psychiatry or stratified neuroscience. This latest funding is a key step forward as we look to progress MT1988 through clinical trials, with the potential to finally address the cognitive symptoms of schizophrenia that have long been neglected.Tim Mills, Managing Partner at ACF Investors, said: Monument Therapeutics is tackling one of the most elusive areas of neuroscience drug development with an innovative, precision-based approach.