Business Finland Awarded Funding for Medicortex
TURKU, Finland--(BUSINESS WIRE)--Medicortex Finland Oy, a Finnish biotechnology company focusing on brain injury diagnostics and drug development, announces receiving funding from the Finnish government innovation funding branch Business Finland. The funds are meant to expedite the development of a medical diagnostic test to improve detection of traumatic brain injury (TBI) and concussion.
Medicortex has discovered novel biomarkers of head injury in body fluids such as saliva and urine. The funding which covers 50% of the expenses will support a project consisting of the development of a test kit for easy and rapid detection of brain injury and concussion. The objective of the company’s biomarker program is to generate new means for early detection of brain injury, which is a global unresolved issue. Current methods of brain injury diagnostics which are based on neurological examination and imaging do not reliably detect mild injury, yet they can have implications that are fatal or develop into a chronic condition if not recognized. The market potential for a new diagnostic tool is substantial with more than 60 million people globally who suffer head injuries each year.
Winning this highly competitive funding is a valuable recognition of the company’s efforts and affirms the urgent need to be able to rapidly and reliably diagnose TBI and concussions.
Medicortex Finland Oy is a biotechnology company dedicated to improving the diagnostics and treatment of Traumatic Brain Injury (TBI). Its current focus is on developing biomarker diagnostics to detect head injury in an easy way. The company has the technology to capture biomarkers from urine and saliva and to develop them into an affordable diagnostic tool. Medicortex was established by an Israeli neurobiologist Adrian Harel (Ph.D., MBA) in 2014, and the company is based in Turku, Finland.
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