Sunbird Bio, a biotechnology company developing proprietary blood-based technologies to improve the diagnosis and treatment of neurological disorders and early-stage cancer, announced the closing of a $14 million financing round backed by two new investors, Eli Lilly and Company and the strategic investment arm of the Singapore Economic Development Board (EDBI), and continued support from existing investors ClavystBio, Polaris Partners, and S32.
The funding proceeds will enable Sunbird Bio to expand the clinical development of its proprietary blood-based diagnostic platform, which has demonstrated potential to support earlier, more accurate diagnosis and treatment of Alzheimer’s disease, Parkinson’s disease, and other neurological disorders. And Sunbird Bio plans to open a new state-of-the-art laboratory space and initiate additional clinical studies of its diagnostic technology by early 2025.
Sunbird Bio’s blood-based diagnostic platform is the first technology that has demonstrated the ability to accurately and directly detect and monitor very low levels of disease-specific proteins, such as amyloid beta (Aβ), tau, and alpha synuclein (α-synuclein), that aggregate in the brain and play a key role in the pathogenesis of Alzheimer’s disease, Parkinson’s disease, and other neurological disorders. And due to the proprietary design of the platform, Sunbird Bio has the unique capability to easily add assays to the platform as research continues to uncover new protein biomarkers that signal the presence of neurological diseases. This innovation also creates the potential for Sunbird Bio to empower researchers and clinicians with the broadest panel of diagnostics that will deliver unparalleled insights not readily available from current tests.
Sunbird Bio (jointly headquartered in Cambridge, Massachusetts, and Singapore) is actively securing partnerships with biopharma companies and others to accelerate the development of its diagnostic platform and conduct clinical studies. Use cases include patient enrollment, longitudinal monitoring, patient stratification, and target engagement.
KEY QUOTES:
“This latest round of financing underscores our investors’ confidence in the potential of our diagnostic technology to transform outcomes for patients with neurological disorders. This funding will enable us to accelerate the clinical development of our blood-based platform, which will offer physicians and patients multiple advantages as compared to currently available tests. With investment from two additional organizations that bring valuable strategic influence, we’re even better positioned to positively impact the millions of people globally who are affected by devastating neurological diseases.”
-John McDonough, executive chair and CEO of Sunbird Bio
“EDBI is excited to partner with Sunbird Bio as part of Singapore’s vibrant and growing community of life science companies developing groundbreaking solutions to address unmet global clinical needs. The nation’s robust research ecosystem, coupled with its pro-business environment and strong intellectual property protection, offers a fertile ground for innovators to advance their discoveries, and we look forward to partnering with more companies to grow and expand their footprint in Singapore.”
-Christine Giam, partner at EDBI
“Sunbird Bio is on the forefront of innovation in diagnostics for neurological diseases, as evidenced by the promising clinical data generated to date from its diagnostic platform. Our continued investment in the company illustrates our confidence that Sunbird will drive meaningful change for patients, particularly in an area where, until lately, there has been little progress. We believe Sunbird Bio’s vision, talented team of experts and novel diagnostic technology could significantly impact diagnosis and treatment of neurological disorders in the near term.”
-Alexandra Cantley, Ph.D., partner at Polaris Partners
