Pursuant to the stock purchase agreement, Nerveda will fund DioGenix with at least $5 million to accelerate and expand the company’s proprietary programs, led by blood-based tests for the diagnosis and clinical management of multiple sclerosis (MS). The DioGenix senior management team will continue in their current roles supported by financial and strategic management resources provided by Nerveda.
Larry Tiffany, president and CEO of DioGenix, said: “Nerveda’s support provides an exceptional opportunity for DioGenix to build on our promising early results in developing the first FDA-approved blood test for MS. This program is merely the first example of how our approach can quickly and reliably lead to the development of molecular diagnostics.”
Cam Gallagher, president and CEO of Nerveda, said: “The core diagnostic development assets of DioGenix, coupled with the experience set of the management team, provide a unique platform to develop a broad range of useful new tests. DioGenix neurological focus fits well with many of our projects which target the development of new neuroprotective therapies.”