Biotech firm Sunbird Bio announced that it has closed a $14 million financing round intended to advance the clinical development of its diagnostic platform aimed at enabling the earlier diagnosis and treatment of neurological disorders.
Two new investors participated in the financing round, Eli Lilly and Company and the strategic investment arm of the Singapore Economic Development Board, EDBI, as well as existing investors ClavystBio, Polaris Partners, and S32.
Sunbird Bio, which has headquarters in both Cambridge, MA, and Singapore, noted in a statement that it plans to open new laboratory space and initiate additional clinical studies of its diagnostic technology by early 2025.
The firm noted that its blood-based diagnostic platform has demonstrated the ability in studies to accurately and directly detect and monitor very low levels of disease-specific protein biomarkers, including amyloid beta (Aβ), tau, and alpha synuclein (α-synuclein), that play key roles in the pathogenesis of Alzheimer's disease, Parkinson's disease, and other neurological disorders. The platform was designed so that assays can be added easily as research confirms new protein biomarkers for neurological diseases.
Sunbird Bio said that it is actively securing partnerships with biopharma companies and others to advance the development of its platform and conduct clinical studies.
