For Immediate Release Contact: Dr. Robert Bowser 602-810-0812
January 28, 2015
Iron Horse Dx wins Arizona Commerce Authority Innovation Challenge
$250k Award will speed development of first biologic ALS/Lou Gehrig’s Diagnostic test
Scottsdale, AZ – The Arizona Commerce Authority announced Iron Horse Diagnostics a winner of the Fall 2014 Arizona Innovation Challenge. A panel of expert judges evaluated 154 applications from the Fall 2014 AIC submitted by companies based in Arizona, California, Colorado, New Mexico, Ohio, West Virginia and Virginia. The judges assessed each application on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact. These companies represent high-value industry sectors that include IT software, IT hardware, bio and life sciences, cleantech/renewable energy, advanced materials, advanced manufacturing, and aerospace and defense.
“Winning the Innovation Challenge is a real honor for us. The application process really helped to sharpen our strategies, timelines and personnel needs for launch of this novel diagnostic test in ALS. We are currently conducting a final clinical validation of our test which is to be completed this year and then launch to the public by the end of 2015. After winning a National Institute of Health (NIH) FastTrack STTR grant and funding from Biogen Idec, this ACA award confirms that we are on the right path to commercializing the ALS diagnostic. “We have had tremendous interest from the medical community and industry concerning the progress of the ALS diagnostic,” said Dr. Robert Bowser, CEO and Co-Founder of Iron Horse Diagnostics.
ALS is a devastating neurological disease with current annual costs for diagnosis within the US at $60 million, which equates to over $10,000 per patient and often requires over 1 year to properly diagnose using current clinical methods. As with most chronic diseases, early intervention via earlier and definitive diagnosis is the key to success for the newer disease modifying therapeutics in the pharma pipeline
Dr. Bowser, founder of Iron Horse, a Scottsdale based company, and a Professor of Neurology and Neurobiology at the Barrow Neurological Institute and St. Joseph’s Hospital and Medical Center has been working and researching in the ALS field for over 20 years.
Iron Horse is also developing a blood based diagnostic test for Traumatic Brain Injury (TBI) and concussion to be launched in 2017/18.
The years 2014 and 2015 will be pivotal in the fight against ALS. One of the most successful non-profit fundraising drives, the “ALS Ice Bucket Challenge” generated over $114 million for the national ALS Association in 2014 and the launch of Iron Horses ALS diagnostic in 2015. The ALS Association is actively investing in the development of diagnostics and novel therapies for ALS. Early diagnosis through the Iron Horse ALS test will lead to better treatment options and allow companies with ALS therapeutics in the pipeline to perform more effective clinicals on the path to a cure. 2
Company and Executive Team
Iron Horse Dx was formed to create breakthrough diagnostic tests in neurologic disorders with high-unmet medical need. Beyond the diagnostic test for ALS, Iron Horse has also developed assays for traumatic brain injury (TBI) and concussion and is concurrently working to commercialize those assays and bring those products to market.
Iron Horse Dx is led by Robert Bowser, Ph.D. He is a co-Founder of Knopp Biosciences, a biotechnology company in Pittsburgh, PA focused on therapeutics for ALS and other neurologic disorders. Co-Founder Gerry Shaw, Ph.D., is President of EnCor Biotechnology, a company that specializes in the generation of antibodies used in the commercial assays developed and marketed by Iron Horse Dx.
Dr. Bowser has assembled an experienced scientific and commercialization team to bring the portfolio tests to market including; Andreas Jeromin, Ph.D., Chief Scientific Officer, who has successfully developed biomarker programs from discovery to clinical diagnostics in academia and industry for the last 15 years; and Michael Hull, MBA, Chief Financial Officer, a commercialization, grant and finance specialist.
For further information concerning Iron Horse Dx and the novel products in its pipeline please contact Dr. Robert Bowser at 602-810-0812, firstname.lastname@example.org or Michael Hull at (602) 617-7609, email@example.com