Monument Therapeutics, a Manchester-based neuroscience company, has secured £850,000 in funding to advance its breakthrough treatment for cognitive impairment associated with schizophrenia (CIAS). The investment, led by ACF Investors with participation from Wren Capital, o2h Ventures, and angel investors, will support the clinical development of MT1988, a novel fixed-dose combination drug targeting an area of significant unmet medical need.
Addressing a Critical Gap in Schizophrenia Treatment
Schizophrenia affects approximately 20 million people worldwide, with cognitive impairment representing a core symptom that impacts memory, attention, and executive function. Despite its profound effect on patients' quality of life, there are currently no approved treatments for CIAS. This represents a substantial treatment gap in psychiatric care, where existing antipsychotic medications primarily address psychotic symptoms but leave cognitive deficits largely untreated.
Dr. Jenny Barnett, CEO of Monument Therapeutics, explained the company's innovative approach: "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."
Precision Psychiatry Through Digital Biomarkers
Monument Therapeutics has developed a unique approach to psychiatric drug development by leveraging digital assessments of cognition to match patients with targeted treatments. The company's strategy addresses a fundamental challenge in neuroscience research: the heterogeneous nature of psychiatric conditions.
Unlike oncology, where biopsies can reveal specific genetic markers, neuroscience lacks direct access to the brain. Psychiatry still diagnoses based on symptoms rather than underlying biological mechanisms. Monument's digital biomarker measures a cognitive process called latent inhibition, which helps filter relevant information from irrelevant information.
"Schizophrenia is highly heterogeneous. About two-thirds of people with schizophrenia have a weakened attentional filter, while the remaining third do not," Barnett noted. "If we were to give our drug indiscriminately, it could improve symptoms for some but worsen them for others. By measuring where a patient falls on this cognitive spectrum, we can predict whether our drug will be beneficial before prescribing it."
MT1988: A Novel Combination Approach
MT1988 represents a novel fixed-dose combination drug designed to enhance cognitive function while mitigating common side effects seen with similar treatments. The drug combines two well-characterized small molecules that act on nicotinic receptors, showing substantial cognitive improvement in pre-clinical studies.
The treatment is intended to be used alongside existing antipsychotic medications, offering a complementary solution for patients rather than replacing current therapies. This approach recognizes that cognitive symptoms require targeted intervention beyond traditional antipsychotic treatment.
Clinical Development Timeline
Monument Therapeutics is currently conducting a Phase 1 safety study in healthy volunteers. Since the two component drugs have never been used together, this trial ensures their combined safety profile. Phase 1 results are expected by Q2 2025, with Phase 2 trials in patients with early-stage schizophrenia planned for later this year if safety results prove favorable.
The company's digital biomarker technology will play a crucial role in patient selection for these trials, potentially improving the likelihood of demonstrating efficacy by identifying patients most likely to benefit from treatment.
Industry Support and Investment Perspective
Tim Mills, Managing Partner at ACF Investors, emphasized the significance of Monument's approach: "Monument Therapeutics is tackling one of the most elusive areas of neuroscience drug development with an innovative, precision-based approach. CIAS is an area of huge unmet need and we believe that MT1988 has the potential to make a real impact on a range of conditions."
Sunil Shah, CEO of o2h Ventures, highlighted the leadership and innovation driving the company forward: "We are excited to support Monument in its mission to address the cognitive impairment associated with schizophrenia, an area of significant unmet medical need. Jenny Barnett has been a fantastic CEO leading the charge and finding innovative sources of funding for the programme."
The funding will enable Monument Therapeutics to progress MT1988 through clinical development while continuing to refine its precision psychiatry platform. With approximately 95% of neuroscience drugs failing to make it through clinical development, Monument's biomarker-driven approach represents a potentially transformative strategy for improving success rates in psychiatric drug development.
