NeuroVision, which is working toward regulatory approval for its early Alzheimer’s detection technology, has acquired fellow diagnostics maker Durin Life Sciences for an undisclosed price.
With the deal, NeuroVisio picks up Durin’s Duritect blood-based diagnostic tests that support early detection and monitoring of neurodegenerative diseases, including Alzheimer’s, Parkinson’s and ALS.
Financial terms and a closing date for the deal weren’t disclosed.
When the sale is completed, the combined companies will operate under the NeroVision name and be led by Steven Verdooner, NeuroVision’s co-founder and CEO, and Ric Edelman, majority owner of Durin, will join the board, the company said in a release.
“We’ve long believed that the future of neurodegenerative disease care begins with earlier and more accessible detection,” Verdooner said in a statement. “By bringing together complementary strengths in diagnostics, technology and patient engagement, we believe we are uniquely positioned to help advance brain health at scale while supporting patients and families throughout the care journey.”
Related
The deal fell just two weeks after NeuroVision announced it was looking to snare $15 million in series C funding, of which it had raised $11.2 million, that the company would use to support its efforts to gain regulatory approval for its retinal imaging technology designed for the early detection of Alzheimer’s disease.
The diagnostic identifies the buildup of amyloid-beta protein in the retina, which has similar characteristics to the brain. Studies have shown that amyloid-beta plaques that build up in Alzheimer’s patients’ brains also accumulate in the retina.
NeuroVision is betting that retinal imaging can become a noninvasive alternative to PET scans and cerebrospinal fluid analysis, which are currently being used to detect amyloid, but are not suitable for routine screening, disease monitoring and tracking a patient’s response to therapy.
