The company is already engaged with pharmaceutical and biotech companies to help support them to accelerate the development of effective new drugs and treatments for Alzheimer’s Disease. The company will develop its technology with the aim of enabling doctors to catch the condition years earlier than is possible with current diagnostic methods, and to help patients in all corners of the world.
Alzheimer’s Disease is the most common form of dementia and presents an urgent challenge in a world of ageing populations and rising healthcare costs. Globally, the number of people living with dementia will increase from 50 million in 2018 to 152 million in 2050 (Source: Dementia fact sheet December 2017; World Health Organisation.) Currently, diagnosis is possible only after symptoms such as memory loss occur; unfortunately, by this point changes to the brain have already taken place which will make treatments less effective.
The clinical diagnostic platform that is being developed by Oxford Brain Diagnostics will be based on the Cortical Disarray Measurement (CDM), a patented software-based analysis that uses algorithms created by the two co-founders: Dr Steven Chance (CEO and formerly University of Oxford) and Professor Mark Jenkinson (University of Oxford). CDM analyses characteristics of the cerebral cortex of the brain from MRI scans.
The first funding round for Oxford Brain Diagnostics was led by RT Capital with other investors including the University of Oxford, the Oxford Technology and Innovations EIS Fund, and a group of angel investors who bring valuable industry experience and contacts. Oxford University Innovation led on the commercialisation of OBD’s underlying research.
Steven Chance, Co-Founder and Chief Executive Officer at Oxford Brain Diagnostics, said: ‘We are very excited to make this technology available for real-world applications, helping others in the search for new effective drugs and to improve patients’ lives.’
Mark Jenkinson, co-founder and Professor of Neuroimaging, added: ‘I am really looking forward to pushing the boundaries of the science behind our technique and exploring how it can help in the treatment and management of Alzheimer’s Disease.’
Andrew Barker, Oxford Brain Diagnostics’ Chairman, commented: ‘The investment and support from RT Capital is an important endorsement of the potential of Oxford Brain Diagnostics to improve the lives of the hundreds of millions who will be affected by Alzheimer’s Disease. The management team and I look forward to working with RT Capital as we pursue our shared goals.’