NEW YORK – Alzheimer's testing firm C2N Diagnostics said Thursday that it has received a $15 million investment from philanthropic organization GHR Foundation.
C2N said it will use the investment, which follows a $20 million investment from GHR in the company in 2020, to support development and commercialization of its first blood-based test for Alzheimer's disease, PrecivityAD, as well as its next-generation version of that test, PrecivityAD2.
PrecivityAD uses mass spectrometry to measure plasma Aβ 42/40 and apolipoprotein E protein to determine whether a person is likely to have the brain amyloid pathology characteristic of Alzheimer's disease. PrecivityAD2 measures those markers plus plasma pTau 217/unphosphorylated tau 217 ratio to boost performance for identifying individuals with amyloid pathology and for the early detection of the tau pathology also associated with Alzheimer's disease.
As part of the financing, Fred Miller, GHR’s chief operating officer and managing director of biomedical programs, will become a board observer to C2N.
"GHR Foundation is honored to partner with the C2N Diagnostics team and bolster the difference they’re making in the lives of patients and families dealing with the uncertainty of an Alzheimer’s diagnosis," Amy Rauenhorst Goldman, CEO and chair of GHR Foundation, said in a statement.