CAMBRIDGE, Mass. and SINGAPORE--(BUSINESS WIRE)--Sunbird Bio, a biotechnology company developing proprietary blood-based technologies to improve diagnosis and treatment of neurological disorders and early-stage cancer, today announced the closing of a $14 million financing round backed by two new investors, Eli Lilly and Company and the strategic investment arm of the Singapore Economic Development Board, EDBI, as well as continued support from existing investors ClavystBio, Polaris Partners and S32.
The financing proceeds will enable Sunbird Bio to expand the clinical development of its proprietary blood-based diagnostic platform that has demonstrated potential to support earlier, more accurate diagnosis and treatment of Alzheimer’s disease, Parkinson’s disease and other neurological disorders. Sunbird Bio plans to open new, state-of-the-art laboratory space and initiate additional clinical studies of its diagnostic technology by early 2025.
“This latest round of financing underscores our investors’ confidence in the potential of our diagnostic technology to transform outcomes for patients with neurological disorders,” said John McDonough, executive chair and CEO of Sunbird Bio. “This funding will enable us to accelerate the clinical development of our blood-based platform, which will offer physicians and patients multiple advantages as compared to currently available tests. With investment from two additional organizations that bring valuable strategic influence, we’re even better positioned to positively impact the millions of people globally who are affected by devastating neurological diseases.”
Sunbird Bio’s blood-based diagnostic platform is the first technology that has demonstrated the ability to accurately and directly detect and monitor very low levels of disease-specific proteins, including amyloid beta (Aβ), tau and alpha synuclein (α-synuclein), that aggregate in the brain and play a key role in the pathogenesis of Alzheimer’s disease, Parkinson’s disease and other neurological disorders. Due to the proprietary design of the platform, Sunbird Bio has the unique capability to easily add assays to the platform as research continues to uncover new protein biomarkers that signal the presence of neurological diseases. This innovation creates the potential for Sunbird Bio to empower researchers and clinicians with the broadest panel of diagnostics that will deliver unparalleled insights not readily available from current tests.
“EDBI is excited to partner with Sunbird Bio as part of Singapore’s vibrant and growing community of life science companies developing groundbreaking solutions to address unmet global clinical needs,” said Christine Giam, partner at EDBI. “The nation’s robust research ecosystem, coupled with its pro-business environment and strong intellectual property protection, offers a fertile ground for innovators to advance their discoveries, and we look forward to partnering with more companies to grow and expand their footprint in Singapore.”
Sunbird Bio, which is jointly headquartered in Cambridge, Massachusetts and Singapore, is actively securing partnerships with biopharma companies and others to accelerate the development of its diagnostic platform and conduct clinical studies. Use cases include patient enrollment, longitudinal monitoring, patient stratification and target engagement.
“Sunbird Bio is on the forefront of innovation in diagnostics for neurological diseases, as evidenced by the promising clinical data generated to date from its diagnostic platform,” said Alexandra Cantley, Ph.D., partner at Polaris Partners. “Our continued investment in the company illustrates our confidence that Sunbird will drive meaningful change for patients, particularly in an area where, until lately, there has been little progress. We believe Sunbird Bio’s vision, talented team of experts and novel diagnostic technology could significantly impact diagnosis and treatment of neurological disorders in the near term.”
About Sunbird Bio
Sunbird Bio is a biotechnology company developing proprietary blood-based diagnostic tests that provide unprecedented insights to enable earlier, more accurate diagnosis and treatment of neurological disorders and early-stage cancer. Sunbird’s innovative technologies uniquely detect the property and activity of proteins to empower researchers and clinicians with actionable information that is not available or accessible from current tests. Sunbird Bio’s unparalleled leadership in blood-based diagnostics positions the company to become a global leader in the field, addressing significant research and clinical gaps, and serving multiple, sizable markets.
