CND Life Sciences startup closes $2.4m series seed funding round
CND Life Sciences, an innovative medical technology company pioneering the detection, visualization, and quantification of protein deposition in cutaneous nerve fibers, announced the closing of a $2.4 million series seed financing round. HonorHealth, a local health system serving 1.6 million people in the greater Phoenix area, joined several experienced financial investors in funding the round.
Richard Morello, Chief Executive Officer, CND Life Sciences: "The seed capital enables us to expand laboratory operations and accelerate sales and marketing initiatives for our Syn-One TestTM, an evidence-based tool that aids the diagnosis of serious neurological disorders including Parkinson's disease and dementia with Lewy bodies. We look forward to broadening the reach of our Syn-One Test and increasing our support for neurologists and patients nationwide."
The Syn-One Test is a breakthrough in diagnosing a group of neurodegenerative diseases called synucleinopathies. These serious disorders share a common pathological marker - an abnormal form of a protein known as alpha-synuclein that accumulates in nerve cells and causes progressive decline in neurological functions. Syn-One is the only commercially available test that uses a simple skin biopsy to make it easy for physicians and patients to obtain visual, pathological proof of abnormal alpha-synuclein, increasing confidence in the diagnosis and subsequent treatment plan.
Todd LaPorte, CEO, HonorHealth: "HonorHealth recognizes the importance of world-class technology to advance the care of our patients, and our support for the work of CND Life Sciences reflects this commitment to those we care for. Diagnosing and treating neurodegenerative diseases with novel, evidence-based tools is a priority for HonorHealth. CND is playing an important role to advance the science of diagnostic testing in this field."
Since launching in late 2019, the Syn-One Test has been ordered by more than 100 neurologists in 20 states to help diagnose patients early in the disease process as possible. Multiple biopharmaceutical companies are also using the test to help optimize clinical trials for investigational drugs intended to treat the underlying causes of synucleinopathies like Parkinson's disease.
Peter Harris, Chairman of the Board, CND Life Sciences, seed round's lead investor: "We are excited to work with the founders and management team of CND Life Sciences to fulfill its important mission. CND is a fast-growing pioneer in neurodiagnostics, and we have assembled an outstanding group of investors to help drive the company's plan."