ADmit Therapeutics increases capital. The Spanish company has announced the closing of a financing round of €5.4 million led by the Clave Innohealth fund, with the aim of developing and commercializing a new technology for the early detection of Alzheimer’s. The round also included participation from the EIC Fund and Alzheimer’s Drug Discovery Foundation, as well as investors Lavanda Ventures, Ship28, and WA4Steam.
The firm has assured that the capital raised will allow it to obtain validation from the European Commission (EC) and the US Food and Drug Administration (FDA) to begin the commercialization of its technology against Alzheimer’s both in Europe and in the United States.
This new technology makes it easier for pharmaceutical companies to “optimize patient selection and reduce both the time and costs associated with clinical trials, increasing the possibility of identifying new effective therapies for Alzheimer’s,” as highlighted by the company in a statement.
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ADmit Therapeutics wants to obtain approval to commercialize the technology in both Europe and the United States
Marta Barrachina, executive director of ADmit, has pointed out that “our proposal allows, through a blood sample and using next-generation sequencing techniques, to calculate the probability of progression of a patient with mild cognitive impairment to Alzheimer’s dementia. ” The directive added that “this makes it easier for clinicians to optimally stratify patients and prescribe the best treatment.”
Founded in 2017, Admit Therapeutics is a spin-off of the Bellvitge Biomedical Research Institute (Idibell), which specializes in the development of an in vitro diagnostic device to detect Alzheimer’s early. Specifically, the Catalan company is developing a test that uses sequencing and a machine learning approach to measure methylation changes in mitochondrial DNA that can predict progression towards Alzheimer’s disease dementia.
Clave Capital is an independent investment manager in alternative assets specializing in innovative projects and industrial SMEs. Currently, it manages more than ninety million euros aimed at innovative projects, highlighting the fifty million Clave Innohealth fund, promoted with the support of Cdti Innvierte and several private investors linked to the health sector.
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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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