Funding to Support Upcoming Autism Diagnostic Clinical Trials
Lexington, MA – February 21, 2012 –SynapDx Corporation today announced it has secured $2 million in funding from Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH). This investment will support the clinical development of SynapDx’s breakthrough blood-based autism spectrum disorder (ASD) diagnostic test, designed to help clinicians identify children with autism earlier than they do today. This test will be the first step toward SynapDx’s building of a broader pediatric neurodevelopment testing offering.
“LabCorp and SynapDx have a shared vision about the future of diagnostics,” said Stanley Lapidus, CEO, SynapDx. “The investment is validation of LabCorp’s commitment to innovation and SynapDx’s transformational approach to autism diagnostics.”
“SynapDx has the potential to revolutionize ASD diagnosis and offer pediatricians, patients and families the opportunity to begin treatment earlier, a key factor in improving ASD outcomes,” said David King, Chairman and CEO, LabCorp. “We are very excited to support SynapDx’s upcoming research efforts.”
LabCorp’s investment follows SynapDx’s recent announcement of a $6 million round in financing supporting further development of its early ASD diagnostic test. SynapDx is working closely with ASD experts at leading institutions across the country and will use the investment to fund further studies slated to begin later this year.
“LabCorp is a leader in diagnostic technology, and its strategic investment in SynapDx demonstrates support for the development of new and better approaches to ASD diagnosis,” said Bill Geary, Partner, North Bridge Venture Partners.
About SynapDx Corp.
SynapDx is a private company providing laboratory diagnostic services to physicians who suspect children of developmental disorders, with the initial goal of enabling earlier detection of autism spectrum disorders (ASDs). The company collaborates with ASD experts at leading institutions, including Boston Children’s Hospital. SynapDx was founded in 2010 and is based in Lexington, Mass. Its investors include North Bridge Venture Partners and General Catalyst Partners.