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 C2N’s 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.”