Cognito Therapeutics Announces Formation of Payor Advisory Board
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Cognito Therapeutics, a Phase 3-ready disease-modifying therapeutics company using non-invasive neuromodulation to reduce or halt the progression of neurodegenerative diseases, announced today the formation of a first-in-category Payor Advisory Board to enable day one payor coverage upon approval and insure timely and broad patient access to Cognito’s breakthrough treatment for Alzheimer’s.
The Payor Advisory Board comprises seven payors and integrated delivery networks, collectively managing approximately 119 million lives. The advisory board is comprised of the country’s largest integrated delivery network (IDN), the largest national payor, multiple national payors, as well as leading regional payors and regional IDNs. Members include C-suite and P&L decision-makers actively employed by payors, who oversee and determine coverage policy and reimbursement for medical, pharmacy, and population health strategy.
Cognito Therapeutics recognizes the need to engage payors and providers earlier in the process of developing new therapeutics for large population with high unmet need like Alzheimer’s Disease. Supported by Anton Health, a leading third-party healthcare services firm, Cognito is proactively bringing payors to the table to ensure day-one coverage by national and regional payors, and establish favorable reimbursement and incentive structures for neurologists and clinicians who will play a critical role in ensuring timely and appropriate access to Cognito’s breakthrough treatment.
“As we advance our disease-modifying treatments for Alzheimer’s and other neurodegenerative diseases, we see the importance of working closely with payors to ensure that our novel treatment is readily accessible to physicians and patients once it is approved” said Brent Vaughan, Chief Executive Officer, Cognito Therapeutics. “Our data from multiple clinical studies provides evidence that our treatment may prevent the loss of brain volume and function seen in Alzheimer’s progression and could transform the standard of care for payors, physicians, patients and their families.”
“Given Cognito’s potential to significantly improve care and realize direct medical savings in neurodegenerative diseases that collectively cost the American healthcare system nearly $400 billion per year, we’re excited to initiate their strategic alliance with multiple health plans and IDNs as a means of enabling evidence-based partnerships and day one coverage of their innovative therapeutic” said Jim Larweth, Executive Vice President, Anton Health.
“Neurodegenerative diseases are a top priority for US payors. It’s vital that we take an evidence based approach to address unmet needs in this costly space. Payors, clinicians, members and manufacturers must align on evidence generation to enable strategic buy-in early in the development process to ensure innovative treatment approaches provide value and there is sufficient and compelling data on efficacy and safety to insure patient access for novel treatments. The innovative disease modifying potential of novel therapeutics in Alzheimer’s and other potential neurodegenerative conditions can have a profound impact on patients and caregiver function and QOL if demonstrated to have a clinically meaningful reduction in the rate of disease progression” said Dr. Maria Lopes, M.D., M.S., an advisory board member and payer medical officer with over 23 years’ experience developing innovative strategies, medical policy development and coverage decisions.
At the recent Alzheimer’s Association International Conference 2021 in July, Cognito reported Phase 2 clinical data which showed improvements in memory, cognition, and sleep, as well as a reduction in brain atrophy and the loss of brain volume in Alzheimer’s patients. As Cognito progresses into Phase 3 studies, the company intends to investigate clinical, cost, and quality as study endpoints with the potential to transform the standard of care in Alzheimer’s Disease.
About Cognito Therapeutics
Cognito Therapeutics is a Phase 3-ready disease-modifying therapeutics company using non-invasive neuromodulation to reduce or halt the progression of neurodegenerative diseases, including Alzheimer’s disease. The company has completed multiple clinical studies demonstrating its therapeutic intervention has the potential to safely reduce or stop cognitive decline and loss of brain volume in Alzheimer’s disease. Cognito has received FDA Breakthrough Device Designation for the treatment of Alzheimer’s disease and expects to start pivotal studies in 2022. The company’s technology was based on the insights of optogenetics and scientific founders Professors Li-Huei Tsai and Ed Boyden at MIT. Cognito Therapeutics is based in Boston and San Francisco. For more information, please visit www.cognitotx.com. Follow us on Twitter at @cognitotx.
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Source: Cognito Therapeutics