• Monument Therapeutics

  Led · Equity · Oct 2024

  Monument Therapeutics is developing MT1988, a novel fixed‑dose combination drug aimed at treating cognitive impairment associated with schizophrenia (CIAS). The company pairs the drug with a computer‑based digital biomarker that measures latent inhibition to stratify patients by attentional filtering and predict likely responders. MT1988 has shown substantial cognitive improvement in preclinical studies and combines two well‑characterised small molecules acting on nicotinic receptors, formulated to enhance cognition while mitigating common side effects. Monument is conducting a Phase 1 safety study in healthy volunteers and expects results by the end of next month (also noted as expected in Q2 2025); if successful it plans Phase 2 trials in early‑stage schizophrenia patients later this year. The drug is intended to be used alongside existing antipsychotic medications as a complementary therapy. The company recently raised funding to support progression of MT1988 through further clinical development. Monument Therapeutics is a Manchester, UK-based precision neuroscience company led by CEO Dr Jenny Barnett. The company leverages a novel drug development strategy that uses digital assessments of cognition to match patients with pharmaceutical treatments. Its lead asset, MT1988, targets the cognitive symptoms of schizophrenia. Monument plans to use newly raised funds to support the clinical development of MT1988. The company announced a £1M equity investment from the Forster Foundation alongside two board appointments—Dr Randeep Grewal as Chair and David Ford as an Investor Director. The financing is intended to advance MT1988 toward clinical milestones and further the company’s precision‑neuroscience approach. Monument Therapeutics is a precision neuroscience company spun out of Cambridge Cognition in 2021 that uses proprietary digital biomarkers and digital cognitive assessments to stratify patients for CNS drug development. The company focuses on matching patients with appropriately targeted compounds to reduce heterogeneity in trials. Its pipeline includes programmes for cognitive impairment in schizophrenia and for neuroinflammation; the lead candidate, MT1988, is a novel fixed‑dose combination that showed substantial cognitive improvement in preclinical studies. Monument has completed a £1.0m fundraise and announced a further £0.5m grant to enable clinical development of MT1988, with first clinical trials expected to begin in the coming weeks. If those trials are successful, a Phase 2 clinical trial is expected to begin in early 2025. Cambridge Cognition retains a significant shareholding in Monument, which was reduced from 28% to 25% after the round. Monument Therapeutics is a spin-out from Cambridge Cognition that develops digital biomarkers to stratify patients in neuroscience drug development. It uses proprietary cognitive assessments licensed from Cambridge Cognition, including CANTABTM, to identify patient subgroups with homogeneous neurobiology. The company combines these digital stratification tools with repurposed drugs that have favourable safety profiles to de‑risk development. Its lead programmes target cognitive impairment in schizophrenia and post-operative cognitive dysfunction (POCD). Monument plans to commercialise its digital biomarkers across multiple neuroscience indications to support R&D and therapeutic development. The company relocated to Alderley Park, Cheshire and appointed Jenny Barnett as CEO; Cambridge Cognition has retained a minority shareholding.

No current team members are available.