Sunbird Bio secures $14m for Alzheimer’s diagnostic platform

Original from: Medical Device Network

Massachusetts and Singapore-based biotechnology company Sunbird Bio has raised $14m to advance the clinical development of its blood-based diagnostic platform for neurological disorders and early-stage cancer.

The funds, supplied by American pharmaceutical giant Eli Lilly and the Singapore Economic Development Board (EDBI), will be used to establish a new laboratory space and initiate additional clinical studies of its diagnostic technology by early 2025.

Sunbird Bio claims that its blood-based diagnostic platform is the first technology to have accurately detected and monitored very low levels of disease-specific proteins. These include amyloid beta, tau and alpha-synuclein, the proteins that play a key role in the development of conditions such as Alzheimer’s disease or Parkinson’s disease.

The company, headquartered in both the US and Singapore, also boasts the platform’s ability to add new assays to allow users to expand the platform as new tests are developed and released. Additional funding for the round also came from existing investors ClavystBio, Polaris Partners and S32.

John McDonough, executive chair and CEO of Sunbird Bio, said: “This latest round of financing underscores our investors’ confidence in the potential of our diagnostic technology to transform outcomes for patients with neurological disorders.

“This funding will enable us to accelerate the clinical development of our blood-based platform, which will offer physicians and patients multiple advantages as compared to currently available tests. With investment from two additional organisations that bring valuable strategic influence, we’re even better positioned to positively impact the millions of people globally who are affected by devastating neurological diseases.”

Last year the company merged with the Massachusetts company Glympse Bio, providing its US headquarters. The company said it is actively securing partnerships with biopharma companies and others to accelerate the development of its diagnostic platform and conduct clinical studies.

Christine Giam, partner at EDBI, said: “EDBI is excited to partner with Sunbird Bio as part of Singapore’s vibrant and growing community of life science companies developing groundbreaking solutions to address unmet global clinical needs.”

Elsewhere in the field of Alzheimer’s disease diagnostics, Genova Diagnostics has entered a strategic partnership with Neurocode to launch its p-Tau217 blood biomarker test.

Source: Sunbird Bio secures $14m for Alzheimer’s diagnostic platform