C₂N Diagnostics Announces Follow-on Investment from GHR Foundation as It Builds on Success in Novel Diagnostics to Aid in Alzheimer’s Disease Fight
ST. LOUIS — February 16, 2023 — C2N Diagnostics, LLC, a leader in advanced brain health diagnostics, today announced it has received a $15 million program-related investment from GHR Foundation. This financing, an expansion of GHR’s initial $20 million program-related investment to C₂N in early 2020, signifies the foundation’s deep commitment to the company and to reducing the global burden of Alzheimer’s disease through early detection and prevention.
C₂N 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 company also will conduct additional clinical studies to continue building real-world evidence around the use of the PrecivityAD® and PrecivityAD2™ blood tests in clinical care. The investment will enable broader market access, expanded medical education, biomarker pipeline development, and infrastructure growth to facilitate global expansion.
C₂N 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.
C₂N recently marked the two-year anniversary of the launch of the PrecivityAD® blood test. The PrecivityAD® blood test is the first to be a widely accessible blood test that assists healthcare providers with Alzheimer’s diagnosis. GHR’s support was an essential part of C₂N’s success in positioning the PrecivityAD® 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 C₂N Diagnostics team and bolster the difference they’re making in the lives of patients and families dealing with the uncertainty of an Alzheimer’s diagnosis,” says Amy Rauenhorst Goldman, Chief Executive Officer and Chair of GHR Foundation.
As part of the financing, Fred Miller, GHR’s Chief Operating Officer and Managing Director of Biomedical Programs, will become a Board Observer to C₂N Mr. Miller says, “C₂N has made great progress since our initial program-related investment in 2020. GHR continues to believe that C₂Ns technology will play a critical role in the early and accurate diagnosis of Alzheimer’s disease. We look forward to deepening our partnership with the C₂N team and supporting the next phase of their work.”
Dr. Joel Braunstein, C₂N 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. Our team is committed to helping patients with cognitive impairment receive a timely and accurate diagnosis so that they may begin a proper treatment plan. Having GHR Foundation by our side enables us to amplify our impact and global presence, thereby, bringing us one step closer to realizing our full ambitions.”
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About C₂N Diagnostics, LLC
C₂N Diagnostics is a specialty diagnostics company with a vision to bring Clarity Through Innovation®. C₂N strives to provide exceptional laboratory services and products in the field of brain health. C₂N’s high-resolution mass spectrometry-based biomarker services and products are used for: clinical decision-making to improve patient care, including diagnosis and treatment monitoring; maximizing the quality and efficiency of clinical trials that test novel treatments for neurodegeneration; and providing innovative tools to help healthcare researchers better understand novel mechanisms of disease, identify new treatment targets, and conduct important epidemiologic studies to improve global public health. The company acknowledges generous support from National Institute on Aging, GHR Foundation, Alzheimer’s Drug Discovery Foundation, BrightFocus Foundation and Alzheimer’s Association. For more information visit www.C2N.com.
About GHR Foundation
GHR Foundation is an independent philanthropy of service to people and their limitless potential for good. Alongside its partners around the world, GHR reimagines what is possible when pursuing impact on issues related to Children in Families, Education, Alzheimer's disease and more. For 50-plus years, the pioneering legacy of founders Gerald and Henrietta Rauenhorst has guided its optimistic and transformational philanthropic approach. www.GHRfoundation.org
COMPANY CONTACT:
Joni Henderson
314-464-0009
MEDIA CONTACT:
Adam Shapiro
202-427-3603