CND Life Sciences Closes Series Seed 2 Round, Reaches $8 Million in Total Capital Raised
Strong Market Adoption of Syn-One Test™ to Help Clinicians Diagnose Parkinson’s Disease and other Neurological Disorders
PHOENIX, AZ, February 1, 2022 – CND Life Sciences, Inc. (www.cndlifesciences.com), an innovative medical diagnostics company pioneering the detection, visualization, and quantification of protein deposition in cutaneous nerve fibers, announced today the closing of a $5.0 million Series Seed 2 financing round. This follow-on round comes one year after its initial seed raise of nearly $3.0 million in early 2021 to catalyze the launch of the company’s Syn-One Test, the only commercially available test that can accurately identify abnormal alpha-synuclein aggregation through a simple skin biopsy.
Nearly 300 neurologists and other clinicians are now using Syn-One to support the diagnosis of patients presenting with signs and symptoms of diseases including Parkinson’s, dementia with Lewy bodies, multiple system atrophy, and pure autonomic failure. Syn-One represents a breakthrough in providing clinicians and patients with definitive, pathological proof of disease that can allow for more optimal treatment and shared decision-making.
“We are extremely pleased with the support we have received from neurologists and patients nationally in our introduction of Syn-One as a reliable technology to aid the diagnosis of these challenging diseases,” said Richard Morello, Chief Executive Officer of CND Life Sciences. “Syn-One has helped clinicians resolve complex cases and identify the likely cause of early or confounding symptoms, allowing them to care for patients with greater clarity and confidence.”
With several biopharmaceutical companies developing therapies targeting abnormal alpha-synuclein, it will be crucial for neurologists to objectively identify patients who possess this pathological form of the protein as early in the disease course as possible to achieve a drug’s intended clinical benefit.
“Our collective knowledge of the role of misfolded proteins in the pathogenesis and progression of neurodegenerative diseases continues to evolve rapidly, which is really promising for the care of patients,” said Todd Levine, MD, Chief Medical Officer and Co-Founder of CND Life Sciences. “We believe the adoption of Syn-One by neurologists is a key advancement for the field and will be increasingly important as disease-modifying therapies become a reality.”
Several existing investors participated in this follow-on round along with new investors who are enthusiastic by CND’s strong progress and future. Funds will be used to continue commercial scale-up, broaden market education on Syn-One, and advance many R&D activities.
“CND’s novel and effective approach to neurological disease testing is creating the opportunity for better health outcomes for patients. The trust that hundreds of leading neurologists nationally have put in the Syn-One Test is highly encouraging for the advancement of patient care and drug development,” said Richard Goozh, Managing Director of Cambrian Capital Partners. “We look forward to supporting this next phase of corporate growth.”
About CND Life Sciences and the Syn-One Test™
Founded in 2017, CND Life Sciences is dedicated to supporting the care of patients facing the potential diagnosis of a neurodegenerative disease and other neurological 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 misfolded alpha-synuclein located in cutaneous nerve fibers. The test, which analyzes small skin biopsies collected conveniently from the patient in a physician’s office, aids in the diagnosis of a synucleinopathy including Parkinson’s disease, dementia with Lewy bodies, multiple system atrophy, and pure autonomic failure. The Syn-One Test leverages a decade of published science from leading academic institutions in multiple countries and has demonstrated over 95% sensitivity and specificity. 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.