Plenty of good news for ADx NeuroSciences. Today, the Ghent-based Alzheimer specialist has announced the end of its third capital round as well as a new agreement with their American partner Quanterix. Both the capital raise and the new deal are milestones for ADx and will fuel the company’s growth in the coming years.
From Alzheimer’s disease to concussions
In the past, ADx had collaborated with Quanterix to develop a diagnostic test detecting Tau, a protein associated with Alzheimer’s disease. This protein, which is normally present in the brain, also leaks into the bloodstream after concussions. However, the amounts of Tau leaking into the blood can just barely be measured and incredibly sensitive technology is necessary for its detection. ADx and Quanterix took on this challenge and developed a blood test detecting Tau for the assessment of concussions and traumatic brain injury (TBI). The new agreement concerns the sustained supply of top-notch ADx antibodies for the implementation in Quanterix’ Simoa analysis platform.
“We are very pleased with this long-term collaboration with Quanterix,” explains ADx NeuroSciences CEO Koen Dewaele. “It is also a perfect business case on how the market potential of one product can be expanded into a new market: from Alzheimer’s disease to traumatic brain injury.”
Filling the treasury
During its latest capital round, ADx also attracted two new private investors. Since its foundation in 2011, the company has amassed a total of €3.7 million in investments. The new capital buffer will be intended for further growth of the company. Research into innovative markers for established diseases will be funded, but also new areas within neurodegenerative disorders, such as ALS, will be explored. Besides investments in the pure science, the capital will also support business development, marketing communications and expansion of the intellectual property portfolio.
In 2015, ADx came close to the break-even point, which is rather exceptional for a 4 year old biotech company. The fresh capital will certainly enable ADx to make further leaps forward.
Read more about the ADx – Quanterix deal here.
Read more about ADx’ capital increase here.