Business Wire

Medicortex Announces Receiving a 1.1 Million Dollars Research Grant from the US Department of Defense

Share

Medicortex Finland Oy (www.medicortex.fi), today announced the award of a 1.1 million dollars grant from the USA Department of Defense. The grant provides funding for continued clinical development of the company’s diagnostic kit ProbTBITM for rapid detection of mild traumatic brain injury and concussion. Winning this highly competitive grant is also a strong signal and recognition of Medicortex’ approach for the urgent need to rapidly and reliably diagnose mild traumatic brain injury (TBI) and concussion.

The grant was awarded by the USAMRMC (U.S. Army Medical Research and Materiel Command) through the Congressionally Directed Medical “Combat Casualty Care Research Program”. The program is designed to support diagnostics that have the potential to make a strong impact on patient care. The award was granted after a competed peer-review process and it will support the development of ProbTBITM, a first-in-class diagnostic kit which is will enable paramedics and first responders to diagnose concussion and mild traumatic brain injury.

“This grant is a validation of our core technology,” commented Adrian Harel, PhD, CEO of Medicortex. “These non-dilutive funds will enable us to strengthen our research team and expand our translational programs from the clinical sample collection to a prototype kit”.

“We are pleased to receive this award which will enable the next step in collecting more comprehensive clinical evidence to support the product development” – said Tom Palenius, Member of the Board of Directors.

“From our public searches Medicortex Finland is the only Finnish company in the last 12 years to get a DoD grant – a fact that puts Medicortex in the front” Dr. Harel commented.

Medicortex is working towards the validation of a mild Traumatic Brain Injury (TBI) biomarker-based diagnostics and incorporating it into a quick and reliable hand-held kit (ProbTBITM) that can be easily used by the military personnel, first responders and healthcare professionals.

About the Grant

This work is supported by the Assistant Secretary of Defense for Health Affairs, through the Broad Agency Announcement for Extramural Medical Research, under Award No. W81XWH-19-1-0258. Opinions, interpretations, conclusions and recommendations are those of the author and are not necessarily endorsed by the Department of Defense.

About Medicortex

Medicortex Finland Oy (http://www.medicortex.fi) is a biotechnology company dedicated to improving the diagnostics and treatment of Traumatic Brain Injury (TBI). Its current focus is to develop biomarker diagnostics to evaluate the extent and severity of TBI. Once the company completes this test its next goal will be to develop an innovative drug to halt the progression of brain injury.

Key words : NFL, ice-hockey, rugby, brain injury, head injury, concussion, diagnostics, TBI, sport, professional athletes, boxing, early detection, military, army, navy, soldier, combat, veteran, trauma, clinical trial

Forward-Looking Statements

This press release contains statements that are "forward-looking statements" that are based upon management's current expectations and assumptions and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated herein.

Contact information

Dr. Adrian Harel - CEO
Medicortex Finland Oy
Tel. +358 (0) 400 488 817
adrian.harel@medicortex.fi
http://www.medicortex.fi

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Social Football Summit 2019 to Take Place in Rome in Partnership With Lega Serie A19.11.2019 12:02:00 CETPress release

Debates, meetings and networking dedicated to digital marketing and innovation in the world of football, are part of the programme of the second edition of the Social Football Summit scheduled for Wednesday 20 and Thursday 21/11/2019 at the Stadio Olympico in Rome (ITA). The event, organised by the start up "Social Media Soccer" and the digital company "Go Project", in partnership with the Lega Serie A, will feature 75 speakers during some thirty conferences, debates and other formats divided into two main themes: • The first is dedicated to the most significant and original initiatives in digital marketing and fan engagement. • The second is dedicated to digital transformation processes, sports technology, eSports, blockchain and other innovative projects. "The Lega Serie A is very aware of the need to exploit all the new digital marketing tools in order to be a leader in Italy and around the world. The market on which we want to focus strongly is the eSports market, which is now full

XPRIZE Announces New $10 Million Competition to Preserve Rainforests Across the Globe19.11.2019 12:00:00 CETPress release

Today, XPRIZE, the global leader in designing and operating incentive competitions to solve humanity’s grand challenges, officially launched the $10M Rainforest XPRIZE. Registration is now open for teams interested in participating in the four-year global competition that calls on innovators to create technology capable of identifying and cataloging rainforest biodiversity and develop insights that may lead to a new bioeconomy through standing forests. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005397/en/ (Graphic: Business Wire) Rainforests remain undervalued, which has led to their rapid depletion over the past two decades. Having once covered 14% of the earth’s land surface, rainforests now cover a mere 6% of the planet, according to National Geographic. Specifically, the recent acceleration of the Amazon’s deforestation, due in part to illegal logging and mining as well as inefficient agricultural expansion, ha

Desktop Metal Launches World’s First Metal Binder Jetting System Designed for Machine Shops19.11.2019 10:45:00 CETPress release

Desktop Metal, the company committed to making 3D printing accessible to manufacturers and engineers, today announced the launch of Shop System™, the world’s first metal binder jetting system designed for machine shops and metal job shops. For the first time, shop owners can leverage affordable, high-quality binder jetting technology to print end-use metal parts with unparalleled speed, print quality, and productivity. The system was unveiled during Formnext 2019, a leading additive manufacturing conference, in Frankfurt, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005056/en/ The Shop System™, the world’s first metal binder jetting system designed for machine shops and metal job shops, starting at $150,000. (Photo: Business Wire) Offering the most cost-effective solution in the industry starting at $150,000, this high-speed, single-pass print engine introduces high-quality binder jetting to an entirely new

Experience the World of Interconnected Security on IDEMIA’s Booth at Milipol Paris (november 19-22, 2019)19.11.2019 09:44:00 CETPress release

Today, more than ever before, new digital and biometric technologies represent the future of public security to provide trusted and reliable security solutions based on identity, and to maintain at the same time efficiency and convenience that ease citizens’ lives. At Milipol Paris, IDEMIA will showcase its cutting-edge technologies in three fields so that visitors can experience the whole future of security. Securing major events Thanks to its 40 years of strong relationships with the world’s leading law enforcement agencies and governments, IDEMIA has developed an in-depth understanding of the processes and procedures involved to ensure security at major events. The company not only provides the most innovative, biometric technologies – it also ensures interoperability of systems for a smooth and efficient running of events. IDEMIA’s innovative and intelligent systems use highly accurate algorithms integrated in its video and intelligence analytics to help secure major event, critica

Valamis’ Global Survey Reveals the State of L&D in 201919.11.2019 09:00:00 CETPress release

Valamis, the global leader in digital learning technologies and workforce development, published results from the “Learning and Development in Organizations in 2019 Report”, which combines key results from national surveys executed in the US, Germany, and Finland between April and July of 2019. The importance of learning and development for the organization’s success is recognized throughout each country surveyed; 96 percent of all respondents stated that it is very important or of medium importance to continually update the knowledge and skills of employees. The country comparison reveals that learning and development have reached greater maturity in the US when compared with Germany and Finland. Digital learning environments are more widely in use in organizations, and they are being updated to newer platforms more often. The top two challenges for learning and development were the same in all countries: No time and no money, and the third challenge was not the right tools in use (th

conova deploys ADVA OLS solution for highly secure DCI connectivity19.11.2019 08:00:00 CETPress release

ADVA (FSE: ADV) today announced that conova communications is using its technology for secure, high-capacity transport between data centers. conova, one of Austria’s leading IT service providers, has deployed the ADVA FSP 3000 open line system (OLS) with ConnectGuard™ Optical encryption in response to booming demand from business customers for reliable and protected cloud services. The fully redundant infrastructure supports 100Gbit/s Carrier Ethernet as well as 32Gbit/s Gen 6 Fibre Channel, a key requirement for the most advanced enterprise storage services. Featuring ADVA ALM fiber assurance technology, the new DCI network also enables rapid repair times and improves performance. The solution was designed and implemented by ADVA’s Elite partner dacoso, a German IT service provider focusing on connectivity, cyber defense and virtual networking. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005076/en/ ADVA's technolog