![Medicortex Finland Oyj](/data/images/public/49600577/70084484/1541f5fe-b3f4-4f4f-8a7c-972e399ceacf-w_300_h_100.jpg)
Business Finland supporting Medicortex
Medicortex Finland Oyj, a Finnish biotechnology company focusing on brain injury diagnostics announces receiving a funding decision from Business Finland, the Finnish government organization for innovation funding. The funds will be used to expedite the development of a medical diagnostic test kit to improve detection of traumatic brain injury (TBI) and concussion. Medicortex has a share issue ongoing to raise the matching private funding.
Medicortex is targeting a biomarker of head injury in body fluids such as saliva and urine. The Business Finland funding will cover 50% of the prospective total project budget of more than 800.000 euro, and it will support the final development of a test kit for easy and rapid detection of brain injury and concussion, as well as setting up initial production capacity. The objective of the company’s biomarker program is to generate new means for early detection of brain injury, which is a global medical need. Current methods of brain injury diagnostics which are based on neurological examination and imaging do not reliably detect mild brain injury. Unrecognized head injury can develop into a chronic condition or even have fatal implications. The market potential for a new diagnostic tool is substantial with more than 70 million people globally suffering brain injuries each year.
Receiving this highly competitive funding is a valuable recognition of the company’s team efforts and affirms the urgent need to be able to rapidly and reliably diagnose TBI and concussions. The CEO of Medicortex, Adrian Harel: “It is an important milestone for the team and the technology, we are thankful to Business Finland for this support, and we thank the investors that supported us until now”.
Medicortex is looking for investments to raise the complementary 200.000 euro of private funding to launch the project. The share issue is open to private investors as well as to institutional investors. The subscription price is 1 euro per share and the minimum subscription is 3.000 euro. Information for investors is available at https://www.medicortex.fi/eng/investors/.
Forward-looking statements
Certain statements in this communication are forward-looking statements. They are based on the views of the company’s management, as well as the understanding and assumptions of the company’s management based on the information available at present, and due to this, they may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, which may result in that the company’s actual future results, operations, achievements and performance of the sector may differ significantly from the results, operations, achievements and performance specifically or indirectly indicated in such forward-looking statements. Such risks, uncertainties and other important factors include, among other things, risks related to the implementation of the company’s strategy and availability of financing, general economic and market situation and other risks. Forward-looking statements are not a guarantee of the company’s operational or financial performance in the future.
Keywords
Contacts
Adrian Harel
CEO
Tel: +358 400 488 817
Email: adrian.harel@medicortex.fi
Links
About Medicortex
Medicortex Finland Oyj is a biotechnology company dedicated to improving the diagnostics 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.
Alternative languages
Subscribe to releases from Medicortex Finland Oyj
Subscribe to all the latest releases from Medicortex Finland Oyj by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Medicortex Finland Oyj
Medicortex Finland Plc signed a 1.4 million dollars research grant contract with the U.S. Department of Defense24.6.2024 11:15:00 EEST | Press release
Medicortex Finland Plc, a biotechnology company dedicated to improving the diagnostics and treatment of Traumatic Brain Injury (TBI), announces that the United States Department of Defense (“DoD”) has awarded the company a research grant of about 1.4 million dollars for its project plan to develop a rapid test for detection of mild traumatic brain injury (TBI) and concussion using saliva.
Medicortex Finland Plc appointing new members for the Board of Directors3.5.2024 09:51:16 EEST | Press release
Medicortex Finland Plc, a biotechnology company located in Turku, Finland, with a proprietary biomarker technology for detection of traumatic brain injury (TBI), announces appointment of Nils Grönberg and Ville Ranta-Panula (MSc, MBA) as new members in company’s Board of Directors. Grönberg and Ranta-Panula supplement the team of scientists and clinicians with their diverse expertise in business development and management, among other skills.
Medicortex Finland was granted a European patent related to the diagnostics of COVID-19 in saliva12.7.2023 09:07:35 EEST | Press release
Medicortex Finland Plc, a biopharmaceutical company focusing on the development of diagnostics and drug for mild traumatic brain injury (TBI), was granted a European patent for COVID-19 diagnostics development. This patent protects Medicortex’s unique detection method of SARS-CoV-2 based on carbohydrates.
Turun kaupunki myönsi Medicortexille TKI-setelin15.6.2023 13:21:40 EEST | Tiedote
Medicortex Finland Oyj, turkulainen aivovammojen diagnostiikkaan ja lääkekehitykseen erikoistunut yritys, on saanut 5000 euron arvoisen TKI (tutkimus, kehitys- ja innovaatio-osaaminen) -setelin Turun kaupungilta. Seteli käytetään Turun yliopiston kanssa yhteistyössä tehtävän tutkimushankkeen edistämiseen. Hankkeen tarkoituksena on tutkia sähkömagneettisen säteilyn vaikutusta keskushermostoon koe-eläinmallissa.
Medicortexin kevään 2023 osakeanti päättynyt – yhtiö kiitollinen yleisön mielenkiinnosta30.5.2023 10:45:00 EEST | Tiedote
Medicortex Finland Oyj, tapaturmaisen aivovamman diagnostiikkaa ja hoitoa kehittävä turkulainen bioteknologiayhtiö, on saanut päätökseen osakeantikampanjan toisen kierroksen. Kampanjan aikana, joka sijoittui 2023 vuoden ensimmäiselle puolikkaalle, yritys keräsi yli 110 000 euroa. Saadut varat käytetään uusien hankkeiden aktivoimiseen yhtiön ensisijaisen tuotekehitysprojektin rinnalla.