BioBehavioral Diagnostics, which developed the first attention-deficit/hyperactivity disorder test approved by the U.S. Food and Drug Administration, has raised another $1 million as it expands the marketing of its diagnostic devices.
The Plymouth Meeting, Pennsylvania diagnostics firm launched a modular version of its Quotient testing system earlier over the summer. It’s the third version of the model, which also has a portable version along with its first generation kisok model. The test measures a person’s ability to think by assessing motion and attention state, providing data on hyperactivity, impulsivity and inattention.
In an interview with MedCity News earlier this year, CEO Byron Hewett said it was expanding the use of the diagnostics device in the U.S. among physicians as well as neurologists and psychiatrists. It is also pursuing CE Mark clearance in Europe.
Hewett also said at the time that the company would be raising an additional $3 million to deal with the impact of the medical device tax enacted in January. He pointed out that it is taxing revenue before the company has begun to make a profit. To date, the company has raised about $7.5 million.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
There are also plans to use the Quotient system as a platform to develop applications for Parkinson’s disease and evaluating people before and after brain surgery.
