Chembio Diagnostics Announces Agreement with Perseus Science to Advance Point-of-Care Concussion Test

Chembio Diagnostics (NASDAQ:CEMI) has announced it has entered into an agreement with Perseus Science Group to advance developing a diagnostic test for mild traumatic brain injury (TBI) or concussion.

As quoted in the press release:

This agreement builds on previous agreements between the two firms that resulted in the completion of technical feasibility to detect Perseus’ patented biomarker.

Under terms of this agreement, Chembio will receive funding from Perseus, subject to satisfying certain milestones, to advance the development of a quantitative point-of-care test for concussion, combining Chembio’s proprietary DPP platform with Perseus’ biomarker. The DPP platform provides results in approximately 15 minutes from a small drop of fingertip blood.

Current methods for diagnosing TBI include neurological examination, cognitive testing, and imaging tests such as CT scan, MRI, and PET scans. Concussion is the most prevalent form of TBI and often goes undiagnosed at the time of injury. Rapid diagnosis of concussion using a point-of-care test could lead to earlier intervention and reduced incidence of secondary injuries.

“Our goal is to be first-to-market with a point-of-care diagnostic test for concussion,” stated John Sperzel, Chembio’s Chief Executive Officer. “We believe a rapid diagnostic test, performed with a small drop of fingertip blood, will aid in early diagnosis, reduced costs and improved outcomes for patients.”

According to 2017 U.S. Centers for Disease Control and Prevention estimates, in 2013 there were 2.5 million TBI-related emergency room visits – approximately one-third by children – and TBI contributed to approximately 30% of all injury deaths, making TBI a major cause of death and disability in the United States.

Click here to read the full press release.