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Ontario Genomics Institute to Invest $87K in Amorfix to Support Development of Alzheimers Dx

NEW YORK, Jan. 31 (GenomeWeb News) - The Ontario Genomics Institute will invest Can$100,000 (US$87,465) in Amorfix Life Sciences to support development of a blood test for Alzheimer's disease, the organizations said today.

 

OGI has agreed to invest Can$50,000 in the company, for which it will receive 100,000 common shares and 50,000 warrants to purchase shares for $.90 for a term of two years.

 

Upon the achievement of a "defined research milestone," OGI will invest another Can$50,000 at market price and receive a one-half warrant for each share purchased to purchase a share at the then market price within two years.

 

Amorfix is developing an Alzheimer's diagnostic called EP-AD that is based on its Epitope Protection technology. The company said that its technology can detect aggregated misfolded proteins in blood that are associated with Alzheimers disease but difficult to identify with traditional methods.

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