Medicortex Finland Oy, based in Turku, Finland, focuses on developing biomarker-based diagnostics for mild traumatic brain injury (TBI) and concussion. Its lead product candidate, ProbTBI, is a disposable, affordable strip test for rapid detection of concussion from saliva or urine. The company reports discovery of unique TBI biomarkers in body fluids and holds a comprehensive patent portfolio protecting the detection principle and related technology. Medicortex closed a pre-IPO share issue and raised a net €0.5M to advance ProbTBI development and to prepare for a contemplated IPO. Göteborg Corporate Finance acted as financial advisor for the pre-IPO and will advise on the upcoming IPO, and a Nordic Certified Adviser in Stockholm has been engaged as certified adviser. The company also states its next goal is to develop an innovative drug to prevent propagation and aggravation of traumatic brain injury. Medicortex Finland Oy focuses on improving diagnostics and treatment of traumatic brain injury (TBI). The company has discovered novel biomarkers of head injury in body fluids such as saliva and urine and is developing them into an affordable diagnostic test kit for easy and rapid detection of brain injury and concussion. Its biomarker program aims to enable early detection of brain injury, addressing limitations of neurological exams and imaging in reliably detecting mild injuries. The company highlights a substantial market opportunity, noting more than 60 million people globally suffer head injuries each year. Medicortex recently received funding from Business Finland that covers 50% of project expenses to expedite development of the diagnostic test. Medicortex was established in 2014 by Adrian Harel and is based in Turku, Finland.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2021