CND Life Sciences announced that it has raised $13.5 million in its Series A equity financing round, with $8.6 million in its most recent Series A3 offering. CND’s latest Series A3 round included funding from existing investor groups like Cambrian Capital Partners, Tanis Ventures, Lupo Labs, Top Corner Capital, HonorHealth, Triana, Gold Bench Capital, and BlueStone Ventures, and from new investors Labcorp, MBX Capital, and Vilas Ventures.
Company growth: The company’s strong growth has been fueled by its innovative Syn-One Test that utilizes skin biopsy tissue to detect and quantify the abnormal form of the alpha-synuclein protein, a known pathological hallmark of Parkinson’s disease (PD), dementia with Lewy bodies (DLB), multiple system atrophy and other related disorders.
CND launched its Syn-One Test in late 2019, which has been used by nearly 3,000 neurologists and other clinicians for aiding in the diagnosis of synuclein-associated disorders like PD for over 35,000 patients. Last year, CND published a key study in the Journal of the American Medical Association demonstrating Syn-One’s 95.5% sensitivity overall in detecting abnormal synuclein in patients with different synuclein-associated diseases. Plus, Syn-One Biomarker Technology, which utilizes CND’s AI-assisted platform NerValence to quantify the amount of synuclein detected in cutaneous nerves, is being applied in multiple pharmaceutical clinical trials with the hope of measuring an investigational drug’s effect on the pathological protein.
KEY QUOTES:
“This is a defining time for the neurodegeneration field. CND uses proven technology to help clinicians diagnose diseases like Parkinson’s earlier and more precisely than ever before, while collaborating with biopharmaceutical companies to improve the chances for successful clinical trials for novel therapies. We are grateful for the significant support of our mission by many dedicated investors.”
Richard J. Morello, CND’s chief executive officer
“Without accurate diagnosis and objective measures of disease progression and therapy response, treatment of the synuclein-related disorders will be hampered. Using our proprietary technology, we are able to support a more precise diagnosis and provide convenient, reproducible measures of disease progression and severity in PD, DLB and other synucleinopathies. These advancements offer real opportunities to deliver more effective patient care and accelerate development of disease-modifying therapies.”
Christopher Gibbons, MD, chief scientific officer of CND
“We are excited to support CND’s mission to scale access to their Syn-One Test as part of our deep commitment to help deliver innovative neurology tests and treatments. We are encouraged by the strong adoption of CND’s innovative testing that is providing actionable information to ordering clinicians and closing gaps in care for patients facing neurodegenerative diseases.”
Megann Vaughn Watters, Labcorp’s vice president of New Ventures & Strategic Alliances
