DioGenix will obtain $5 million from new parent company.
Nerveda has bought DioGenix from Ore Pharmaceuticals. The companies report that Ore is entitled to a small royalty on sales of a multiple sclerosis (MS) diagnostic.
Nerveda will fund DioGenix with at least $5 million to accelerate and expand the company’s programs. The most advanced are blood-based tests for the diagnosis and clinical management of MS.
“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,” says Cam Gallagher, president and CEO of Nerveda. “DioGenix neurological focus fits well with many of our projects, which target the development of new neuroprotective therapies.”