Redwood City, CA (PRWEB) April 27, 2009
Satoris, Inc., a California-based molecular diagnostics company, announced today that it has raised an additional $1.12 million in funding, via a bridge financing, to complete the development and commercialization of its first blood-based tests for Alzheimer's disease. Among the funding participants are Brain Trust Accelerator Fund, L.P., a venture capital firm focused on making early stage investments that address the diagnosis and treatment of brain-related diseases, and Life Science Angels, an investment group focused on biotechnology and medical device companies.
"We are nearing an important milestone, namely the commercialization of our first Alzheimer's research-use tests for utilization by Alzheimer's researchers and by pharmaceutical companies developing new Alzheimer's therapies," said Cris McReynolds, President and CEO of Satoris. "Our intent is to ultimately launch a clinical diagnostic test, following the necessary validation and regulatory approval."
Comprised of a unique panel of protein biomarkers identified by Satoris researchers as specifically characteristic of Alzheimer's, the tests are expected to provide valuable insights into the process and progression of the disease and to serve as a potential indicator of treatment efficacy. McReynolds envisages the forthcoming diagnostic test as a valuable tool for the early detection, differential diagnosis, and disease monitoring of Alzheimer's.
About Alzheimer's Disease
There is no cure for Alzheimer's, a degenerative brain disease that affects an estimated 3.1 million people in the U.S. and over 26 million worldwide. Experts predict the toll may more than quadruple by 2050 as the population grays. Since its destructive effects may exist years before symptoms are apparent, significant damage can occur prior to diagnosis. Also, Alzheimer's diagnosis is costly and largely dependent on the expertise of the physician. As a result, it is estimated that only 60 percent of cases are diagnosed, leaving over 1.5 million patients undiagnosed.
Founded in 2003 and based in Redwood City, California, Satoris, Inc. is a molecular diagnostics company focused on developing blood-based tests for Alzheimer's disease. For more information see http://www.satorisinc.com.