NEW YORK – Medicortex Finland today announced that it has received a $1.1 million grant from the US Department of Defense to support the clinical development of its handheld test for the rapid detection of mild traumatic brain injury (TBI) and concussion.
Turku, Finland-based Medicortex said it is working to validate a mild TBI biomarker-based diagnostic kit called ProbTBI for use by paramedics, first responders, and other healthcare professionals, and it anticipates that the award will enable it to collect more comprehensive clinical evidence to support development.
Adrian Harel, CEO of Medicortex, said in a statement that the funding, which is non-dilutive, will enable it to strengthen its research team and expand its translational programs. The award is recognition of its approach toward rapidly and reliably diagnosing mild TBI and concussion, the firm said.
The US Army Medical Research and Materiel Command awarded the grant through its Congressionally Directed Medical Combat Casualty Care Research Program.
Medicortex said that while its current focus is to develop biomarker diagnostics to evaluate the extent and severity of TBI, a future objective is to develop a drug to halt the progression of brain injury.