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Diadem Closes First Tranche of €10M Financing to Support Alzheimer's Disease Blood Test

NEW YORK ─ Alzheimer's disease diagnostic testing firm Diadem on Monday announced the closing of the first tranche of a €10 million ($11.0 million) round of equity financing.

A new investor, CDP Venture Capital, and a current investor, Panakès Partners, led the financing round.

The Italian startup, launched in 2012 as a spinout from the University of Brescia, did not disclose the amount of the first tranche.

Diadem said it will use the new funding to continue commercializing and clinically validating its AlzoSure Predict biomarker blood test that can identify whether individuals over the age of 50 with signs of cognitive impairment will or will not progress to Alzheimer’s disease up to six years before definitive symptoms are apparent.

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

Earlier this month, the firm announced it had obtained a €7.5 million venture loan from the European Investment Bank.

In February, Diadem announced the CE marking of AlzoSure Predict and in January it obtained US Food and Drug Administration breakthrough device designation for the test.