Palo Alto, Calif., Dec. 02, 2019 (GLOBE NEWSWIRE) -- Cognoa, a company at the forefront of pediatric behavioral health, announced today that James (Jim) H. Welch has been appointed Chief Financial Officer. Welch will oversee financial planning, operations and investor relations as the company advances its digital therapeutics and digital medicines towards commercialization in 2020.
Welch has an impressive 20-year track record of success guiding emerging biotech companies—managing two IPOs, as well as raising a combined total of $800M in support of research, development, and preparation for commercialization. Welch comes to Cognoa from Eiger BioPharmaceuticals, an orphan drug company where he served as CFO. At Eiger, Jim led the process to take the company public and raised more than $200M in multiple offerings to support the company’s growth, including initial commercial activities.
“We are delighted to have Jim join the Cognoa leadership team. Jim’s experience and expertise scaling high-growth biotech companies make him the ideal CFO for Cognoa as we look to gain FDA clearance and commercialize our pipeline of prescription digital therapeutics,” said Brent Vaughan, co-founder, and CEO of Cognoa. “Over the last year, Cognoa has hit key clinical, regulatory and commercialization milestones. With two Breakthrough Device designations from the FDA, a pivotal trial underway, anticipated submission to FDA in 2020, as well as a commercialization partner in place, Jim is joining Cognoa at a pivotal phase in the company’s development as we work to change the standard of care in pediatric behavioral health.”
“From my experience working with emerging biotech companies over the last 20 years, it’s clear that prescription digital therapeutics have the greatest potential to advance behavioral healthcare. I was drawn to Cognoa because it is an obvious leader in the space and one of a handful of companies poised to fill critical gaps in care and deliver superior outcomes,” said Jim Welch, CFO of Cognoa. “I couldn’t be more thrilled to join the talented team at Cognoa making early intervention of pediatric behavioral health conditions the new standard of care.”
Prior to Eiger Pharmaceuticals, Welch was CFO at AcelRx, a specialty pharmaceutical company where he managed the company’s successful IPO and raised over $150M in support of AcelRx’s growth. At Rigel Pharmaceuticals, Jim oversaw their IPO and raised over $250M in five offerings. Welch earned a BA in Business Administration from Whitworth College and an MBA in Finance from the Washington State University.
Cognoa’s suite of AI-powered solutions will provide a continuum of care from identifying at-risk children to empowering early diagnosis and treatment of behavioral health conditions. The company’s prescription digital therapeutics and medicines target the critical neurodevelopmental windows to promote positive brain development through neuromodulation of specific brain networks, improving functional connectivity to create lifelong gains.
Cognoa and EVERSANA, a leading pharmacy and patient services company, have partnered to support patient and physician access and to enable the routine prescription, dispensing and coverage by insurers and health plans of Cognoa’s digital therapeutics and medicines, so that these solutions can be available to every pediatrician and child.
About Cognoa, Inc.
Cognoa is a leading pediatric behavioral health company. We are developing prescription digital therapeutics and medicines for the earlier identification and treatment of behavioral health conditions in order to change the standard of care and improve lifelong outcomes for children. Our lead prescription products, the first digital diagnostic aid, and the first prescription digital therapeutic for autism have both received Breakthrough Device designation from the FDA. Additional products in Cognoa’s pipeline address other pediatric behavioral health indications including ADHD and anxiety. Available today through employers, health plans and treatment providers, the Cognoa for Child Development app has been used by more than 300,000 parents to screen for risk of developmental delays, track and support their child’s developmental health. For more information, visit www.cognoa.com.
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