Semler Scientific Investment Advances Market Positioning and Confidence in SYNAPS Dx
A press release issued by Semler Scientific (SMLR) articulates its investment in SYNAPS Dx (SDx), a privately held company focused on the research, development and commercialization of diagnostics for neurodegenerative disorders and conditions, including Alzheimer’s Disease (AD). The announcement points to SDx’s DISCERN™ and its role in the diagnosis of early-stage AD.
“We believe this investment continues to distinguish the accuracy of our biomarkers from all other diagnostics in AD, since it is undoubtedly the first accurate, gold-standard autopsy-confirmed minimally invasive test for the definitive diagnosis of AD vs. other forms of dementia,” says Frank Amato, CEO and president, SDx. “DISCERN relies on three independently accurate biomarkers related to synaptic function and is well positioned to help address a number of key issues that payers, providers and patients face when it comes to getting a definitive diagnosis for AD early in the patient journey.”
DISCERN is now on track to help reduce the burden of diagnosing AD on patients and their families, clinicians and the overall healthcare system. With demand for a simpler and more definitive approach to early-stage identification of AD at an all-time high, the advance of this non-invasive test reinforces the Company’s focus on supporting the most cost-effective management treatment decisions for people living with AD.
Well Positioned for Commercialization
SDx and DISCERN have achieved important milestones that include:
DISCERN is the first AD test of its kind to earn Proprietary Laboratory Analyses (PLA) Code 206U and 207U. These codes and their associated reimbursement position DISCERN as a critical, essential component of patient-centric, value-based strategies for providers and payers by providing the code necessary for reimbursement.
DISCERN has received Breakthrough Designation by the Food & Drug Administration.
In October 2021, SDx announced the close of its Series A $10 million investment, including private equity, individual and family funds, and corporate investors. Proceeds will be used to scale-up production and meet market demand for DISCERN.
The Company has opened a new, high-tech lab at Greencourt Innovation Center (GIC) for the launch of DISCERN.
In December 2021, the Company announced the creation of an Advisory Council comprised of powerhouse leaders in healthcare innovation: Michael Gorton, founding CEO, Teladoc and CEO, Recuro Health, Wayne Jenkins, MD, MPH, physician executive, Frederick Huie, MD, general surgeon in New York, New York and Dave Rosa, president and CEO, NeuroOne Medical Technologies Corporation.
SDx Retains Outcome Capital as Strategic Advisors
To further advance the strategic positioning of SDx, commercialization of DISCERN and opportunities for investment, collaboration and distribution partners, the Company has engaged Outcome Capital.
Outcome Capital is a highly specialized life sciences and healthcare advisory and investment banking firm, providing innovative companies with a value-added, market-aligned approach to mergers & acquisitions, partnering and corporate finance. The firm leverages its proven ‘strategy-led execution’ approach to value enhancement by assisting management teams and their boards in navigating both financial and corporate markets and implementing the best path for success.
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