Innodem Neurosciences

Innodem Neurosciences develops advanced digital biomarkers and AI-powered solutions to assess cognitive function and neurological health, primarily through its flagship product, ETNA™. Founded in 2016 in Montreal, Canada, Innodem Neurosciences focuses on pioneering digital biomarkers for neurological assessments. The firm raised USD 6. 000 mn in Series A funding on January 19, 2021, led by 5Y Capital.

The CEO and Founder, Etienne De Villers-Sidani, has a background in neurological research, which informs the company’s strategic direction. Innodem Neurosciences specializes in digital biomarkers and artificial intelligence solutions, with its flagship product being the Eye Tracking Neurological Assessment, ETNA™. This innovative technology utilizes eye-tracking algorithms to provide quantitative measures of cognitive function and neurological health, specifically targeting various neurodegenerative and mental diseases such as multiple sclerosis, Parkinson’s disease, Alzheimer's disease, Friedreich Ataxia, and cancer-related cognitive impairment. The ETNA™ technology has undergone regulatory review and is being trialed with patients to enhance diagnostic accuracy and disease tracking capabilities.

Innodem's services are designed for healthcare providers, research institutions, and pharmaceutical companies, with an emphasis on improving patient assessments and outcomes. The company's products are marketed in several regions, including North America, Europe, and parts of Asia, where partnerships with pharmaceutical giants, like Novartis Pharmaceuticals Canada, are established to enhance access to innovative medical solutions. Innodem Neurosciences generates revenue through partnerships and B2B transactions centered around its proprietary technology, ETNA™. The company collaborates with healthcare providers, research institutions, and pharmaceutical companies, facilitating access to advanced neurological assessments.

Transactions typically involve agreements for the use of ETNA™ in clinical settings, where institutions may pay fees for software licenses or per-use assessments as part of their patient evaluation processes. The commercial transaction structure includes subscription models or one-time fees associated with the deployment of the ETNA™ technology in clinical trials and ongoing patient monitoring. The company is committed to enhancing the efficiency and effectiveness of neurological assessments, with revenue driven by the demand for reliable, scientifically validated diagnostic tools in the healthcare sector. Innodem Neurosciences plans to leverage its recent USD 6.

000 mn Series A funding to further develop its ETNA™ technology and expand into new markets including Europe and Asia by 2023. The company is focused on enhancing its product offerings and will be launching new features for ETNA™ aimed at increasing diagnostic capabilities. Additionally, the funding will support initiatives to strengthen partnerships with pharmaceutical companies for clinical trials and patient monitoring solutions.