NeuroDex, Inc. and ICV Venture Engineering Fund Announce Closing of Seed Round for NeuroDex, Inc.
Strengthening NeuroDex, Inc. cash position and enabling operations well into 2021.
NATICK, Mass., April 2, 2020 (Newswire.com) - NeuroDex, Inc. (“NeuroDex” or “Company”), a developer of diagnostics, theranostics, prognostics, and pharmacodynamic analysis in the neurology space, announces that the Company has completed its seed round of financing, led by ICV Venture Engineering Fund I, LLC (“ICV”), in accordance with an agreement signed between NeuroDex and ICV in January 2020.
“We appreciate the confidence ICV has placed in us and believe that this capital will be instrumental to NeuroDex building out, expanding, and streamlining our unique ExoSORT™ technology,” noted Oded Biran, Co-Founder and Chief Executive Officer of NeuroDex. “The solidification of our relationship with ICV will allow us access to ICV’s unique experience and expertise, as well as its various other resources, all of which will advance our development and grant significant benefits to all of our stakeholders,” added Mr. Biran.
“We’re excited to lead the seed round for NeuroDex. We have been impressed by what the team accomplished in the short period of time since NeuroDex’s inception and look forward to supporting their vision to produce an Exosome-of-origin based toolbox. This is another example of our focus on investing in the leading, upstart companies across the life sciences spectrum,” said Gary Magnant, a Partner in ICV.
The commercial terms of the round remain confidential.
NeuroDex is a leading developer of exosome-of-origin based diagnostics. NeuroDex’s integrative research platform, called ExoSORT™, combines bioinformatics and state-of-the-art laboratory processes. Building on all of its proprietary platform technologies (including ExoSORT™), NeuroDex develops a full range of exosome-of-origin, minimally invasive, blood-based diagnostic, prognostic, pharmacodynamic, and theranostic tools. For more information, visit www.neurodex.co.
ICV Venture Engineering Fund I, LLC is a pre-seed and seed-stage fund focused on Massachusetts-based emerging life science technologies and companies that have the potential to transformatively or disruptively change the markets they address. For more information, contact email@example.com
Forward-Looking Statement Disclaimer
Various statements in this release concerning NeuroDex’s, or ICV’s future expectations, plans and prospects, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors. In addition, any forward-looking statements represent NeuroDex’s, or ICV’s views only as of the date of this release and should not be relied upon as representing their views as of any subsequent date. NeuroDex and ICV do not assume any obligation to update any forward-looking statements unless required by law.
Oded Biran, CEO
Gary Magnant, Partner
Source: NeuroDex, Inc.