CND Life Sciences – a medical technology company pioneering the development of reliable skin-based tests to help clinicians diagnose neurodegenerative disorders like Parkinson’s disease and dementia with Lewy bodies – announced the closing of a $4.5 million Series Seed 3 equity financing round. This follow-on round brings the company’s total Seed financing to $12.5 million to continue accelerating the commercialization of the Syn-One Test, which is the first commercially available test that can identify abnormal alpha-synuclein aggregation through a simple skin biopsy. Several existing investors along with new investors participated in the round and Top Corner Capital provided a concurrent financing vehicle, demonstrating enthusiasm for CND’s strong progress and future.
Since 2021, CND experienced rapid growth, taking the company from fewer than 10 employees to over 60 in 2023 and expanding its talent pool across the country. And the seed financing has also accelerated the commercialization of Syn-One with nearly 700 neurologist clinician customers in over 40 states and collaborations with biopharmaceutical companies. This ongoing financial support of investors has also contributed to the expansion of the Company’s headquarters, with the recent opening of its global headquarters and labs in Scottsdale, AZ in March 2023.
CND develops and commercializes skin-based tests to help clinicians across the country accurately diagnose and treat neurologic disorders like Parkinson’s disease, dementia with Lewy bodies, multiple system atrophy, and peripheral neuropathies. And peer-reviewed studies indicate that many of these disorders have high rates of misdiagnosis particularly early in the disease process, often leading to sub-optimal treatment for patients and significant frustration for family caregivers. This Syn-One Test is supported by technology licensed from Beth Israel Deaconess Medical Center in Boston.
KEY QUOTES:
“CND’s Syn-One Test represents a breakthrough in providing clinicians and patients with definitive, pathological proof of disease that can allow for more optimal treatment and shared decision-making. Top Corner is constantly looking for promising and disruptive technology investments that will positively impact the lives of people around the world. We look forward to supporting CND’s novel and innovative approach to neurological disease testing and its continued growth.”
— Patrick Lee, Managing Partner of Top Corner Capital
“Having consistently engaged investors through each of our financings has been an essential component to our growth as we bring CND’s important diagnostic technology to market. Proceeds from the Seed 3 round, including the helpful add-on of financing from Top Corner Capital, will facilitate our continued development and expansion while positioning us for wide adoption by neurologists and biopharmaceutical companies alike.”
— Rick Morello, CEO of CND Life Sciences
