C₂N Diagnostics Announces Follow-on Investment from GHR Foundation as It Builds on Success in Novel Diagnostics to Aid in Alzheimer’s Disease Fight —
Summary
This financing, an expansion of GHRs initial $20 million program-related investment to CN in early 2020, signifies the foundations deep commitment to the company and to reducing the global burden of Alzheimers disease through early detection and prevention.CN will allocate the additional GHR funding to support its newest generation blood test, PrecivityAD2, which is expected to perform with similar accuracy to PET imaging and cerebrospinal fluid analysis, but with considerably better accessibility, affordability, and logistical ease. The investment will enable broader market access, expanded medical education, biomarker pipeline development, and infrastructure growth to facilitate global expansion.CN also will invest capital to expand workflow efficiencies to prepare for higher testing volumes and substantial growth in the commercial demand for its family of Precivity blood tests.CN recently marked the two-year anniversary of the launch of the PrecivityAD\xae blood test. GHRs support was an essential part of CNs success in positioning the PrecivityAD\xae blood test for entry into the clinic.As a hope-fueled global funder in service to people and their limitless potential for good, GHR Foundation is honored to partner with the CN Diagnostics team and bolster the difference theyre making in the lives of patients and families dealing with the uncertainty of an Alzheimers diagnosis, says Amy Rauenhorst Goldman, Chief Executive Officer and Chair of GHR Foundation.As part of the financing, Fred Miller, GHRs Chief Operating Officer and Managing Director of Biomedical Programs, will become a Board Observer to CN Mr. Miller says, CN has made great progress since our initial program-related investment in 2020. Joel Braunstein, CN President and CEO, says, We thank Ms. Goldman, Mr. Miller and the entire GHR Foundation team for their tremendous support that will allow us to continue leading the way in biomarker innovation and quality. Alongside its partners around the world, GHR reimagines what is possible when pursuing impact on issues related to Children in Families, Education, Alzheimers disease and more.