C₂N Diagnostics receives $15M to advance blood test for Alzheimer’s detection
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CN Diagnostics announced it has received a $15 million program-related investment from GHR Foundation to support and advance the PrecivityAD2 blood test for the detection of Alzheimer’s disease.
According to a C2N release, these funds expand on GHR’s initial $20 million investment in early 2020 and will be used to conduct additional research on the company’s latest generation PrecivityAD2 blood test. The new test is expected to perform similarly to positron emission tomography and cerebrospinal fluid analysis, but with significantly improved accessibility, affordability and ease.
“We thank the entire GHR Foundation team for their tremendous support that will allow us to continue leading the way in biomarker innovation and quality,” Joel Braunstein, MD, MBA, CN president and CEO, stated in the release. “Our team is committed to helping patients with cognitive impairment receive a timely and accurate diagnosis so that they may begin a proper treatment plan.”
Per the release, the original PrecivityAD test launched 2 years ago as the first widely accessible blood test to aid health care providers with AD diagnosis. GHR’s initial funding helped CN successfully position the test in clinics, and this new investment will allow expanded market access, education, biomarker development and infrastructure growth.
As part of the financing, Fred Miller, GHR’s chief operating officer and managing director of biomedical programs, will become a board observer with CN.
“As a hope-fueled global funder in service to people and their limitless potential for good, GHR Foundation is honored to partner with the CN Diagnostics team and bolster the difference they’re making in the lives of patients and families dealing with the uncertainty of an Alzheimer’s diagnosis,” Amy Rauenhorst Goldman, CEO and chair of GHR Foundation, said in the release.