Medicortex Finland Using Crowdfunding to Help Develop Brain Injury diagnostics

  TURKU, FINLAND - 04/07/2017 (PRESS RELEASE JET)

Head traumas, which include concussion, and more severe traumatic brain injury (TBI) due to an impact or a sudden movement of the head, is a common injury that occurs in every nation worldwide. And according to numerous peer-reviewed studies, if left undiagnosed and therefore untreated many TBIs may lead to preventable life-threatening outcomes and premature chronic neurodegenerative conditions.

However, to date caregivers have had no cost-effective way to rapidly diagnose or rule out a TBI soon after one is believed to have occurred. There are a total of 2.8 million emergency department visits, hospitalizations and deaths due to TBI annually in the US. The market potential of TBI diagnostics is estimated to be around $1,000M in the US and EU in the early 2020s.

Medicortex’s diagnostic kit, which uses novel biomarkers released by the brain in the event of a TBI, will give healthcare providers the ability to use a patient's saliva or urine to detect an injury such as diffuse axonal injury which is the most common type and mechanism of concussion and TBI.

“The most beneficial purpose for our testing kit is increasing the detection of TBIs and minimizing misdiagnoses," according to CEO Adrian Harel. “Our new test can open up a novel way of managing patients who present with suspected concussion."

The assay can be used for a variety of patient presentations in manifold points of care. These include athletes injured during numerous kinds of competition; the elderly, who are at high risk of falls and whose population is growing daily; and soldiers deployed around the world who are consistently exposed to blasts or other situations that put them at risk for a TBI.

Individuals interested in the test may help its development by participating in Medicortex's crowdfunding campaign via the test's crowdfunding portal at www.invesdor.com/medicortex

Together with its crowdfunding campaign -- which on its own is a novel fundraising method among small biotech companies -- Medicortex is issuing shares with the goal of raising capital that matches the other half that the firm has already applied for from the Finnish Funding Agency for Innovation (Tekes).

About Medicortex:

Medicortex Finland Oy (http://www.medicortex.fi ) is a biotechnology company dedicated to improving the diagnostics and treatment of Traumatic Brain Injury (TBI). Its current focus is to develop biomarker diagnostics that evaluate the extent and severity of TBI. Once the company completes this test its next goal will be to develop an innovative drug to halt the progression of brain injury.

Please contact:
Dr. Adrian Harel - CEO
Medicortex Finland Oy
Itäinen Pitkäkatu 4 B, FI-20520 Turku, Finland
Tel. +358 (0) 400488817
adrian.harel@medicortex.fi   
www.medicortex.fi

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