Partnership to Expand C2N’s Commercial Scale and Innovation Pipeline
C2N Diagnostics, LLC ,a specialty diagnostics company with a vision to bring Clarity Through Innovation, announced a $10 million USD investment from Samsung C&T Corporation, Samsung Biologics, Samsung Bioepis, and Samsung Venture Investment Corporation (collectively hereinafter referred to as “Samsung”). C2N says Samsung’s decision bolsters its ability to further scale its clinical laboratory services and advanced diagnostic solutions in the field of brain health.
Jaywoo Kim, Executive Vice President of Samsung C&T Corporation, says, “We are confident that C2N Diagnostics will further grow its leading position in the industry by serving global biopharma customers…”
Jaywoo Kim, Executive Vice President of Samsung C&T Corporation, says, “Since Samsung C&T stepped into the life sciences industry by investing in biologics CDMO and biosimilar business, it has contributed to the stabilization of the biopharmaceutical supply chain and better access to high quality bio pharmaceutics. The investment into C2N Diagnostics shows Samsung’s continued dedication to future growth in the Life Science sector by seeking new business opportunities based on intelligent analytics and uniquely special diagnostics technologies. We are confident that C2N Diagnostics will further grow its leading position in the industry by serving global biopharma customers as well as medical service providers with its well-established blood biomarker testing portfolio.”
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Dr. Joel Braunstein, CEO of C2N, says, “Samsung is an international leader and widely recognized for the seriousness and thorough reviews it undertakes in its strategic decisions. We greatly appreciate the confidence Samsung brings to this partnership as we believe it affirms the value and quality of our advanced diagnostic solutions. Samsung’s important investment will allow C2N to further strengthen our capabilities, expand our commercial scale, and innovate next generation diagnostic tests that can improve patients’ lives.”
Through this strategic investment, C2N aims to continue accelerating organizational capabilities with unrelenting focus to ensure patients globally have access to C2N’s best-in-class blood biomarker testing technologies for Alzheimer’s disease and related dementias. Early and accurate diagnosis is of critical importance given personal, financial, and societal impacts of Alzheimer’s disease and related dementias.
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The Journal of the American Medical Association (JAMA) recently published a large clinical study examining the ability of C2N’s PrecivityAD2 blood test algorithm to improve the diagnostic accuracy of Alzheimer’s disease in primary care settings, where most patients with cognitive concerns turn to for initial answers about their memory loss. The study found similar robustness of test performance in patients who saw memory care specialists. The PrecivityAD2 test result delivered a highly statistically significant accuracy of over 90% at a pre-defined, single binary cutoff compared to cerebrospinal fluid (CSF) analysis or amyloid PET analysis.
With over 50,000 Precivity analytes reported and over 150 Neuro academic, clinical, and research collaborations globally using Precivity biomarkers, C2N has significantly impacted Alzheimer’s research. C2N is now expanding the biomarker pipeline by developing advanced assays targeting tau pathology, Parkinson’s disease research, and developing technologies to decentralize mass spectrometry testing.
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Source – businesswire
