Innodem Neurosciences closes US$6 million Series A financing round

2 minute read
19 January 2021

On January 19, 2021, Innodem Neurosciences announced that it had closed a Series A financing round led by Morningside Ventures to support the development and commercialization of its proprietary, patented, digital biomarking technology of neurodegenerative diseases.

Innodem, based in Montreal, has developed mobile digital biomarking technology of Multiple Sclerosis, Alzheimer's disease, Parkinson's disease and related disorders, Frontotemporal Dementia and related disorders and Cancer-Related Cognitive Impairment ("chemo brain"). This novel eye-tracking and cognition testing technology is embodied in a HIPAA/PIPEDA compliant system consisting of an intuitive tablet application (smartphone coming soon) connected to a cloud-based AI infrastructure. The app is made up of a series of tasks that are completed in minutes, where a user's eye movement is recorded in data sets called Eye Movement Biomarkers (EMBs) and Gaze Mapping Biomarkers (GMBs). 

Gowling WLG advised Innodem with respect to this financing round with a team that included Olivier Therrien (client relationship), Georgi Paskalev and Jean-François Vadeboncoeur.

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