CLEVELAND, Oct. 11 /PRNewswire/ -- JumpStart Inc., Northeast Ohio’s non- profit venture development organization, announced an investment commitment of $300,000 in AnalizaDx, LLC, a Cleveland-based cancer diagnostics company that has developed a proprietary platform technology to improve cancer detection, diagnosis, progression, and prognosis.
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AnalizaDx is a newly formed spin-off of Analiza Inc., a life sciences company exploring a wide range of pharmaceutical and molecular testing technologies. With support from JumpStart, AnalizaDx was formed to focus on a single, groundbreaking biomarker technology -- a technology that could redefine cancer diagnostics, particularly in its early stages.
Early cancer detection is critical to successful cancer treatment, as treatment therapies typically become less effective once the disease has progressed. While conventional biomarker technologies measure the amount of a disease-related protein, AnalizaDx technology identifies biomarkers based on changes in their structure, thus offering significant advantages, such as the use of readily available biological fluids, insensitivity to the significant variations in the absolute amount of biomarkers that naturally occur from patient to patient, and the ability to make screening and diagnosis affordable by utilizing existing, standard lab equipment.
“There is an urgent need for improved cancer diagnostics. Although a flood of new cancer drugs are in development, these are much more effective when cancer is diagnosed in its very early stages,” said Arnon Chait, president and co-founder of AnalizaDx. “So, the race is on to find cancer biomarkers with tests that are easy and relatively inexpensive to administer. Our technology does just that -- it’s a simple, low cost approach that uses existing lab equipment. But, above all, because we measure protein structure changes, our platform has the potential to provide unprecedented accuracy,” Chait concluded.
In early clinical studies involving ovarian and breast cancer patients, AnalizaDx has already demonstrated the technology’s ability to identify promising biomarker candidates. The company has additional clinical programs in progress and has formed multiple collaborations with leading institutions, including the National Cancer Institute. AnalizaDx’s initial work will focus on ovarian, breast, and prostate cancers.
“What we find so compelling about AnalizaDx is the simplicity of the approach,” said Jerry Frantz, JumpStart’s entrepreneur-in-residence assigned to the company. “It’s a very smart science that’s simple to execute and it applies across a broad range of diseases. By helping to create AnalizaDx as a separate entity, we intend to give this important technology the focus and attention it needs to get started on a fast path to market,” Frantz concluded.
With this investment, AnalizaDx becomes JumpStart’s 18th portfolio company.
About AnalizaDx
AnalizaDx, LLC is a Cleveland-based cancer diagnostics company that has developed a proprietary platform technology to improve cancer detection, diagnosis, progression, and prognosis. A newly formed spin-off company from Analiza, Inc., AnalizaDx’s cancer detection technology differs from conventional biomarker technologies that measure the amount of a disease- related protein, as it identifies biomarkers based on changes in their structure. Significant advantages of this type of detection include the use of readily available biological fluids, insensitivity to the significant variations in the absolute amount of biomarkers that naturally occur from patient to patient, and the ability to make screening and diagnosis affordable by utilizing existing, standard lab equipment. The company’s initial work will focus on ovarian, breast, and prostate cancers.
About JumpStart Inc.
JumpStart (www.jumpstartinc.org) accelerates the growth of early-stage businesses and ideas into venture-ready companies by delivering vital, focused resources to entrepreneurs in Northeast Ohio. JumpStart identifies and invests in early-stage companies that have strong potential in the marketplace, solid prospects for high growth, and are likely to qualify for later-stage funding. Beyond investing, the JumpStart team provides a continuum of business development services to its client companies to help ensure their success.
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CONTACT: Thom Ruhe, Chief Marketing Officer of JumpStart Inc.,+1-216-363-3435, or thom.ruhe@jumpstartinc.org
