Ridge Diagnostics, Inc. Wins Growth-Promoting Loan From Biotech Center, Award Will Support NC Laboratory in Commercialization of First Blood Test for Depression
RESEARCH TRIANGLE PARK, N.C., July 10 /PRNewswire/ -- Ridge Diagnostics, Inc., a neurodiagnostic company with a first-in-class, proprietary blood test for Major Depressive Disorder (MDD), announced the award of a $202,500 loan from the North Carolina Biotechnology Center. The funds will further develop the company's CLIA certified laboratory in Research Triangle Park, thereby supporting the commercialization of its proprietary blood test for depression.
The award was made under the Biotechnology Center's Strategic Growth Loan (SGL) program, which helps promising North Carolina companies succeed in the challenging startup process.
"Ridge Diagnostics is a great example of why the loans from the North Carolina Biotechnology Center are so important," said John Richert, vice president for business and technology development at the North Carolina Biotechnology Center. "By helping them advance their technologies, we enable a strong company to grow stronger, bringing economic opportunity and the prospect of new jobs to the state."
This is the second SGL awarded to Ridge. The company is preparing to launch its multi-analyte blood test for diagnosing clinical depression and monitoring its therapy. The MDDScore(TM) provides objective, biological information associated with physiological changes caused by the condition. The test will be used by physicians to augment traditional diagnostic tools such as behavioral questionnaires and clinical assessments.
"Ridge Diagnostics, once again, would like to thank the NC Biotechnology Center for their ongoing support of the company," said Stan Sewitch, CEO. "By preparing our laboratory for commercial expansion, this Strategic Growth Loan allows us to offer our Clinical Experience Program to physicians and patients in North Carolina and other select areas of the United States."
The Ridge Clinical Experience Program, slated to begin in September, will enable practicing physicians to experience the benefits of the test as an aid in the diagnosis and management of patients with depression.
Ridge Diagnostics, Inc. is a neurodiagnostic company commercializing a breakthrough first-in-class, proprietary blood test for the diagnosis and treatment monitoring of Major Depressive Disorder (MDD). The company's products are based on a proprietary Human Biomarker Library and Hyper-Mapping(TM) analytical technology. Ridge intends to develop a comprehensive program of neuropsychiatric disease diagnostics. Ridge Diagnostics' tests are provided through its CLIA certified laboratory in North Carolina, with plans for diagnostic test kits sold worldwide. The company's research and clinical laboratories are headquartered in Research Triangle Park, NC, with administrative offices in San Diego, CA. www.RidgeDx.com
About the North Carolina Biotechnology Center
The Biotechnology Center, headquartered in Research Triangle Park, is a private, non-profit corporation supported by the NC General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business, education and strategic policy statewide.
CONTACT: Lonna J. Williams, COO of Ridge Diagnostics, Inc., 1-877-743-4301
Web site: http://www.ridgedx.com/