Nordic startup, Combinostics aims to help detect Alzheimer at early stage, gets €3.9M Series A funding

Finnish health tech startup Combinostics has announced the closure of a €3.9 million of Series A funding round that will see the company scale its platform for early-stage Alzheimer’s diagnosis to the US and Asia. The round was jointly-led by Industrifonden and NordicNinja VC, with Combinostics representing NordicNinja’s fifth deep tech investment over the past 6 months.

Combinostics CEO Lennart Thurfjell, said:

I would like to thank Industrifonden and NordicNinja for demonstrating their trust in Combinostics with this investment, as well as our previous early-stage angel investors. Industrifonden has a proven track record for supporting companies throughout their journeys, and NordicNinja has strong ties with Asia – Japan in particular – a very important target market for our technology. We will use this investment to ramp up R&D, build our US operations, and expand in Asia. We currently have a partner working on regulatory approval in Japan, and we are looking for a partner in China.

There are no effective treatments for neurodegenerative diseases like Alzheimer’s, but early-stage diagnosis combined with symptomatic treatment and lifestyle intervention can make a drastic difference to the quality of life in later years.

A vast amount of heterogeneous data is collected during the diagnostic workup, so it can be challenging for healthcare professionals to interpret and identify relationships that exist between different data sets. Combinostics provides an intuitive and holistic view of the patient’s data, highlighting important relationships early on and supporting early diagnosis. 

Industrifonden Investment Manager Patrik Sobocki, said

Our investment in Combinostics represents another step for our long-term commitment to health tech innovation. The company joins a family of startups that are improving health outcomes globally by building category-leading products. Combinostics has built a product platform from the cutting-edge research that will enhance neurology departments worldwide. Their platform supports improved diagnostic accuracy and treatment choice by combining all relevant biomarkers with advanced brain image quantification, leading to improved health in neurology patients.

NordicNinja VC Managing Partner Shinichi Nikkuni, said:

Combinostics has built an amazing platform that supports doctors in holistically making diagnostic decisions that will significantly help patients in later life, and I believe that such platform is needed in aging societies such as those found in the Nordics and Japan,.

NordicNinja VC Managing Partner Marek Kiisa, said:

They have a great team with the capability to build further traction on top of their already-solid partnership base. We’re happy to join their journey and help push them further.

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