May 24, 2018

Finnish diagnostics solutions scan new markets

Every year, an estimated 1.7 million people in the US and 2.5 million in Europe suffer a traumatic brain injury.
Every year, an estimated 1.7 million people in the US and 2.5 million in Europe suffer a traumatic brain injury.
Screenshot/ Medicortex

Finnish biotechnology company Medicortex has signed an agreement with Canadian Pro-Lab Diagnostics, while Nexstim has agreed to deliver its first Navigated Brain Therapy system to a private practice in New York.

Medicortex will, under the agreement, give exclusive rights for the sales of its ProbTBI brain injury detection kit in Canada and the UK to Pro-Lab Diagnostics. Pro-Lab Diagnostics will also be responsible for regulatory and registration processes for the product. The ProTBI kit is a unique diagnostic test, due to its biomarker, that can detect brain injury in urine and saliva.

Market potential for the solution is high due to the fact that current symptom-based assessment procedures are often incomplete and imaging solutions costly. The solution offers value for patients that could scale to even greater heights.

“This is a great success for Medicortex as a company, but more importantly this is a big step forward for patients with concussion and traumatic brain injury (TBI), who will greatly benefit from using a novel biomarker in brain injury diagnosis and management,” says Medicortex founder and CEO Adrian Harel.

Patients in the US will also soon benefit from a Finnish solution from the targeted neuromodulation company Nexstim, which has signed a deal with Island Psychiatry in New York. Nexstim will provide the private mental healthcare practice the company’s Navigated Brain Therapy system, which will support Island Psychiatry’s work in providing high-quality comprehensive mental healthcare to tackle major depressive disorder.

“Placing this first system in the US marks an important milestone for us,” says Martin Jamieson, chairman and CEO of Nexstim, “We look forward to working with the centre to generate case studies that highlight the beneficial impact that our personalised approach delivers to patients with depression.”

According to Nexstim, an estimated 10 million Americans suffer from major depressive disorder annually and are treated with anti-depressant drugs. Out of these patients, roughly one-third don’t respond to the treatment – a problem that calls for alternative solutions. For more info on Nexstim, check out our feature from 2015.

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