View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 29, 2022

Diadem raises funding to develop Alzheimer’s detection test

Diadem will use the new funds to commercialise and clinically validate the AlzoSure Predict test.

Diagnostic testing firm Diadem has raised $10.97m (€10m) in the first tranche of its equity funding for its AlzoSure Predict prognostic blood test for Alzheimer’s disease (AD).

New investor CDP Venture Capital and current investor Panakès Partners led the financing round.

The latest funding follows an $8.2m (€7.5m) venture loan from the European Investment Bank (EIB).

Diadem intends to use the new funds to commercialise and clinically validate the AlzoSure Predict test.       

The non-invasive biomarker blood test is being developed to identify whether patients aged above 50 years with cognitive impairment signs will or will not progress to AD up to six years before definitive symptoms become apparent.

It identifies mild cognitive impairment (MCI) patients prior to clinical diagnosis.

The test uses an analytical method with a patented antibody that binds to U-p53AZ, a conformational variant of the p53 protein, and its target sequences.

Diadem Board Chairman Dr Gerald Möller said: “Diadem will use the funds to further expand the company’s global organisation to support our unique prognostic assay that could revolutionise the Alzheimer’s field.

“This funding, in conjunction with the recently announced EIB loan agreement, will provide Diadem with the capital to support the company as it commercialises AlzoSure Predict and builds a successful global enterprise.”

Diadem’s AlzoSure Predict secured Breakthrough Device Designation from the US Food and Drug Administration (FDA) in January, as well as CE-IVD certification last month.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network