BioBehavioral Diagnostics Company Completes First Close Of $10 Million Series B Financing

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Feb 01, 2010, 10:17 ET

PLYMOUTH MEETING, Pa. and WESTFORD, Mass., Feb. 1 /PRNewswire/ -- BioBehavioral Diagnostics (BioBDx), a privately held company which manufactures and markets the Quotient™ ADHD System, a tool that aids in the objective and accurate assessment of attention-deficit hyperactivity disorder (ADHD), announced today the first close of a $10 million Series B financing. Sevin Rosen and Tullis Dickerson led the round.

Proceeds from the financing will be used to expand sales and marketing activities as well as to execute additional clinical work for the Quotient ADHD System. The Quotient ADHD System is currently available in 20 states and physician adoption continues to expand nationwide.

"Nearly 10 million children, adolescents and adults have been diagnosed with ADHD in the U.S, yet there remains a huge unmet need for more accurate and objective clinical tools," remarked CEO Byron Hewett. "The Quotient ADHD System provides clinicians with objective analysis of the key symptoms of ADHD that results in better, less costly clinical care." Hewett concluded, "We are excited to be on the cutting edge of this important advance in the assessment of ADHD and ultimately contributing to making a difference in people's lives."

"The Quotient™ platform is inimitable in the field of neuro-behavioral medicine," said Dave McLean, a general partner with Sevin Rosen Funds. "And Byron brings extraordinary experience to the Company to lead the expansion phase for the ADHD application. With a confluence of market factors working in its favor, we are excited about the opportunity ahead of BioBehavioral Diagnostics."

About the Quotient™ ADHD System

The Quotient™ ADHD System collects and reports objective, accurate data on hyperactivity, impulsivity and inattention. The clinician integrates the Quotient™ ADHD Test report with information from other assessment tools and the clinical evaluation to guide treatment decisions. For more information about the Quotient™ ADHD System, please visit http://www.biobdx.com/Products/QuotientADHDSystem.aspx.

About BioBehavioral Diagnostics Company

BioBehavioral Diagnostics Company manufactures and markets the Quotient™ ADHD System, a tool that aids in the objective and accurate assessment of ADHD symptoms. We are dedicated to providing physicians, parents and patients with high-value information to guide personalized strategies and to enhance quality of life for patients with ADHD. Our vision is to provide accurate tools for the diagnosis and management of neurological and psychiatric conditions, leading to a transformation of behavioral medicine. Founded in 2006, BioBehavioral Diagnostics is a privately held company.

For more information about BioBehavioral Diagnostics, please visit www.BioBDx.com.