PHOENIX, March 23, 2021 /PRNewswire/ -- CND Life Sciences, Inc. (https://cndlifesciences.com/), an innovative medical technology company pioneering the detection, visualization, and quantification of protein deposition in cutaneous nerve fibers, announced today 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.
"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," said Richard Morello, Chief Executive Officer, CND Life Sciences. "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.
"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," said Todd LaPorte, CEO HonorHealth. "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.
"We are excited to work with the founders and management team of CND Life Sciences to fulfill its important mission," said Peter Harris, Chairman of the Board, CND Life Sciences, and the seed round's lead investor. "CND is a fast-growing pioneer in neurodiagnostics, and we have assembled an outstanding group of investors to help drive the company's plan."
About the Syn-One Test
The Syn-One Test leverages a decade of published science by world experts and carefully honed laboratory techniques to identify an abnormal form of a protein known as alpha-synuclein. By obtaining three small punch skin biopsies performed in office by the patient's clinician, CND applies specialized methods to detect folded, phosphorylated alpha-synuclein in dermal layers of the skin. This abnormal form is a well-known biomarker for a family of diseases called synucleinopathies, the most prominent type being Parkinson's disease. A physician ordering Syn-One receives a detailed report of the pathologic findings of the test, including visual images of the patient's cutaneous nerve fibers and a determination of the presence of abnormal synuclein.
There are over 20 million people in the US who suffer from movement disorders, cognitive impairment, autonomic dysfunction, and sleep disorders collectively. A percentage of these patients exhibit signs and symptoms indicative of a synucleinopathy, a group of serious neurodegenerative diseases including Parkinson's and dementia with Lewy bodies, that universally feature abnormal alpha-synuclein. For a portion of these patients, the absence of objective pathological proof makes a physician's diagnosis and treatment choices difficult to determine with confidence. Published studies suggest that even the most experienced neurologists specializing in movement disorders have challenges making positive diagnoses of synucleinopathies in over 30% of cases early in the disease course.
About CND Life Sciences
Founded in 2017, CND Life Sciences is dedicated to supporting the care of patients suffering from neurodegenerative diseases and other related conditions. Operating a CLIA-certified laboratory in Phoenix, Arizona, CND launched the Syn-One Test™ as the world's first commercially available test to detect, visualize, and quantify the presence of abnormal, phosphorylated alpha-synuclein in cutaneous nerve fibers. The test is intended to serve as an objective, evidence-based diagnostic tool to aid in the confirmation of synucleinopathy in patients with suspected Parkinson's disease (PD), dementia with Lewy body (DLB), multiple system atrophy (MSA), pure autonomic failure (PAF) or REM sleep behavior disorder (RBD). Through proprietary staining and analysis of three (3) small punch skin biopsies performed and provided by a referring clinician, CND offers a convenient, accurate, minimally invasive alternative to add clarity and confidence in the diagnosis of neurodegenerative diseases. The company has research collaborations with multiple biopharmaceutical companies and in 2020 was awarded a prestigious NIH SBIR award to advance the validation and clinical utility of its Syn-One Test. For more information visit www.cndlifesciences.com.
Disclosure: Research reported in this publication was supported by the National Institute of Neurological Disorders and Stroke of the National Institutes of Health under Award Number R44NS117214. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
SOURCE CND Life Sciences