ABCDx raises funds for clinical trials of its traumatic brain Injury solution

02.08.2018 09:11

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ABCDx SA has developed a blood-based biomarker test to rule in/rule out mild traumatic brain Injury. The startup completed its first financing round, raising significant seed funds to accelerate and progress clinical and commercial development of its pipeline of products.

Established as a spinoff of the University of Geneva (UNIGE) and Vall d’Hebron University Hospital in Barcelona, ABCDx is dedicated to transforming brain injury care by the use of biomarker panel tests for the assessment and indication in patients suffering from mild traumatic injury (mTBI) to stroke and post-stroke complications.

Until today, the only reliable solution for detecting mild traumatic brain injury (mTBI) is undergoing a CT scan in a hospital. Besides being expensive, the procedure takes time and exposes patients to radiations, and yet 90 percent of the scanned patients are found to have no trauma.

ABCDx is hence developing a compact device that analyses the level of proteins in the blood using a single drop of blood to diagnose the probability of a mild traumatic brain injury within ten minutes. The technology will facilitate early detection of brain injuries, quick clinical decision-making and significantly lower expense for the majority of patients.

“The ABCDx technologies will allow us to intervene earlier resulting in many patients recovering more rapidly and more completely following brain injury. That this improved care can be enabled at lower cost is truly a disruptive change”, said Joan Montaner, Co-Founder & CMO of ABCDx and co-inventor of the company’s technologies at Vall d’Hebron Institute of Research.

Last month, the startup raised significant funds in an oversubscribed seed round from local private investors in the greater Geneva area. The company will use the funds partly to initiate clinical trials for its own products enabling early-decentralised triage of patients suffering traumatic brain injury. The studies will be conducted in the next months with 500 patients in three hospitals in Spain. Some of the funds will be used to establish manufacturing and distribution channels for commercialization as well as to file for the European regulatory approval of its first product in 2018.

Alan Cookson, Co-Founder and CEO of ABCDx SA said, “It is a privilege to welcome new private investors to share in ABCDx’s adventure. This investment recognizes the value of ABCDx’s patented technologies, the potential of our products and the quality of our team. The company can now complete its transition from a pre-clinical to clinical stage company”.

Thanks to their unique approach, ABCDx was awarded the Innovation Academy Award in 2017 and Venture kick stage two in 2018, both presented to UNIGE Researcher and Co-founder of ABCDx, Professor Jean-Charles Sanchez

Cookson said that as the team prepares for the clinical trials, the company aims to raise larger amounts of funds next year to facilitate the development of two additional products for sophisticated assessment of patients with strokes and complications following brain injury.

(Press Release/ RAN)

(Picture: Pixabay)

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