PITTSBURGH, May 11, 2016 /PRNewswire/ -- Pittsburgh Life Sciences Greenhouse (PLSG), Western Pennsylvania's only pure life sciences investment firm, announced today that premier portfolio company Cognition Therapeutics (CogRx) has been honored with the Luis Villabos Award on behalf of the Angel Capital Association (ACA), one of the most prestigious angel capital industry honors in this country. The PLSG Accelerator Fund is also a significant investor.
"The PLSG was the first investor in Cognition Therapeutics and provided laboratory space and equipment to create and launch the innovative discovery platforms designed by Founder and CSO, Dr. Susan Catalano," said Dr. Hank Safferstein, President and CEO of CogRx. "If it wasn't for their continuous support and strategic guidance, we wouldn't be contemplating beginning clinical trials in Alzheimer's patients later this year."
The Luis Villabos Award recognizes the most ingenious and innovative company financed by one of the member angel groups within the ACA. CogRx was one of three finalists, and was named winner during the Angel Capital Summit on May 10.
"CogRx was one of the first investments that PLSG made after I became CEO in late 2006. We could see the gleam in the eye of Dr. Catalano when she first pitched to us back then," said John W. Manzetti, President and CEO of PLSG. "CogRx is an incredible company that is working to not only slow the progression of Alzheimer's, but to also hopefully reverse the disease. PLSG is committed to continuing its support of the CogRx team so that effective breakthrough treatments are brought to the Alzheimer's population and investors receive attractive returns."
For more information about Pittsburgh Life Sciences Greenhouse, please visit www.plsg.com or call 412-201-7370.
About Pittsburgh Life Sciences Greenhouse (PLSG) (www.plsg.com)
The PLSG invests in and supports the growth of biosciences companies in Western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2002, PLSG has assisted more than 440 life sciences companies and has helped create more than 1,500 jobs and affect another 10,000 jobs in Western Pennsylvania. Forty companies have been provided with office or laboratory space and now 14 have been relocated to Pittsburgh from outside of the region. In addition, the PLSG has invested directly and indirectly more than $21 million in 77 companies, which has leveraged nearly $1.5 billion in additional capital to the region.
About Cognition Therapeutics:
Cognition Therapeutics is a privately held Pittsburgh-based pharmaceutical company using disease-relevant screening and novel chemistry platform approaches to produce a pipeline of new small molecule drug candidates for protein misfolding diseases of the nervous system. CogRx's leading clinical candidate-stage program is a highly brain-penetrant, orally bioavailable small molecule receptor antagonist that blocks memory deficits in Alzheimer's disease models.
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SOURCE Pittsburgh Life Sciences Greenhouse