NEW YORK – Alzheimer's diagnostics firm C2N said Thursday it has received a $20 million investment from philanthropic organization GHR Foundation.
St. Louis-based C2N said it will use the funds to build out its CLIA facility and position its blood-based Alzheimer's disease diagnostic test, called APTUS-Aβ, for the clinic. The company is currently working to secure US Food and Drug Administration 510(k) clearance for the test.
The test uses mass spectrometry to measure levels of plasma amyloid beta (Aβ) isoforms Aβ42 and Aβ40 and combines that with patient age and ApoE status to predict whether a patient has the amyloid brain pathology characteristic of Alzheimer's disease. As a blood test, it could prove a convenient and inexpensive first-line approach for evaluating patients suspected of having the disease or for selecting subjects for clinical trials.
"A pressing need exists for affordable and accessible testing in dementia care," Joel Braunstein, CEO of C2N, said in a statement. "We are highly appreciative of GHR Foundation’s partnership. With their support, GHR is enabling a future that positively impacts the fate of Alzheimer’s in people at risk for the disease. Earlier detection will improve clinical care and facilitate new ways to change the course of disease through treatment and prevention."
"C2N’s entrepreneurial mindset combined with their deep commitment to help patients are central to GHR’s goal of Alzheimer’s prevention,” said Amy Goldman, CEO and chair of GHR Foundation. "We are delighted to support the team and look forward to serving their potential as, together, we reimagine what’s possible in preventing this disease."