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EarliTec Diagnostics, Inc. Raises $21.5 Million in Series B Financing

EarliTec Diagnostics, Inc. (“EarliTec”), a medical device company focused on diagnostic and therapeutic solutions for children with autism and related early childhood vulnerabilities, announced a $21.5 million Series B financing round, led by Nexus NeuroTech Ventures and Venture Investors Health Fund.

EarliPoint Evaluation (Photo: Business Wire)

The funds will be used to expand commercialization efforts and advance clinical research for the first-in-kind EarliPoint™ Evaluation (“EarliPoint”), which aids clinicians in the diagnosis and assessment of autism in children aged 16-to-30 months. EarliTec will use this funding for EarliPoint’s commercialization, to complete studies that will evaluate EarliPoint as a diagnostic and assessment tool for children through the age of seven and expand its body of clinical evidence to demonstrate that the technology can measure change in the same child over time. “We are excited to partner with providers across the nation to deliver EarliPoint. We can reduce the time-consuming process of administering and documenting an objective diagnosis and assessment of autistic children, so they can receive effective treatment,” said Tom Ressemann, Chief Executive Officer of EarliTec. We believe the field of autism is quickly evolving, and we hope increased access to early diagnostic and assessment tools will allow us to deliver on our mission to ensure families have timely autism diagnosis and therapy when it matters most.”

“EarliTec is pioneering diagnostic and treatment solutions for children with autism, and we’re thrilled to support their innovative efforts,” said Jim Adox, Executive Managing Director at Venture Investors Health Fund. “This funding round will enable EarliTec to further advance their groundbreaking technology and expand access to their transformative solutions,” said William Marks, M.D., Chief Medical Officer at Nexus NeuroTech Ventures.

Despite autism being one of the most prevalent childhood conditions, with an estimated 1 in 36 children having autism per the CDC, limited access to diagnosis and treatment options compromises outcomes. EarliPoint is the first personalized, quantifiable, and objective tool for children aged 16 months to 30 months suspected of having autism. “There is a severe unmet need in autism diagnosis, and families often face a challenging path to diagnosis of autism due to the lack of innovation in the space and limited access to expert clinicians,” said Ami Klin, Ph.D., Chief Clinical Officer and Founder of EarliTec, Director of Marcus Autism Center and Professor and Chief at Emory University School of Medicine. “EarliPoint represents a meaningful step forward in better, accessible care for autistic children. For the first time, clinicians have a tool to objectively understand where a child is on the spectrum, reach a diagnosis, and deliver personalized care.”

Source: Businesswire