BrainScope has announced an investment from the Alzheimer’s Drug Discovery Foundation (ADDF) in an ongoing Series B round to pursue the development of a new biomarker that can predict the onset of Alzheimer’s disease.

The biomarker is based on artificial intelligence and machine learning-derived brain activity, using similar technology to their FDA-approved EEG medical device used to assess the effects of traumatic brain injury.

Chairman of the Board at Brainscope Miles Gilburne did not disclose the amount that ADDF invested, but stated the funds will enable the company to extend its neurodiagnostics platform to address dementias, in a statement to Pharmaceutical Technology. “We are starting with a biomarker that will predict the risk of future onset of Alzheimer’s disease. We expect to have a proof-of-concept biomarker by the end of Q1 2024,” Gilburne added.

The company is also assessing whether its brain-bleed biomarker could be used to detect amyloid-related imaging abnormalities (ARIAs), to reduce the number of magnetic resonance imaging (MRI) scans required for concussion sufferers. Recently approved Alzheimer’s drugs like Biogen’s Aduhelm (aducanumab) and Eisai/Biogen’s Leqembi (lecanemab) both have labels requiring MRI scans at specific timepoints to evaluate the presence of ARIAs after starting treatment.

In July, the ADDF invested $1.9 million for Eli Lilly’s Alzheimer’s drug donanemab, and the foundation has invested nearly $250 million in support of Alzheimer’s disease research to date.

Gilburne said, “We have considerable traction within premier U.S. health systems with our FDA-cleared brain bleed and concussion assessment product, having demonstrated an average 50% reduction in both unnecessary head CT scans and patient length of stay, and enabling informed referrals for patients with concussion.”

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According to GlobalData, the Alzheimer’s disease market size is estimated to reach $15.9bn in 2030. GlobalData is the parent company of Pharmaceutical Technology.

“With our strong value proposition, proven success in brain injury assessment and recent entry into Alzheimer’s biomarker development, the company is well positioned to become the market leader in non-invasive brain health assessment,” said Gilburne.