BioBehavioral Diagnostics (BioBDx), a privately held company which manufactures and markets the Quotient™ ADHD System, a tool that aids in the objective and accurate assessment of attention-deficit hyperactivity disorder (ADHD), announced today the first close of a $10 million Series B financing. Sevin Rosen and Tullis Dickerson led the round.
Proceeds from the financing will be used to expand sales and marketing activities as well as to execute additional clinical work for the Quotient ADHD System. The Quotient ADHD System is currently available in 20 states and physician adoption continues to expand nationwide.
"Nearly 10 million children, adolescents and adults have been diagnosed with ADHD in the U.S, yet there remains a huge unmet need for more accurate and objective clinical tools," remarked CEO Byron Hewett. "The Quotient ADHD System provides clinicians with objective analysis of the key symptoms of ADHD that results in better, less costly clinical care." Hewett concluded, "We are excited to be on the cutting edge of this important advance in the assessment of ADHD and ultimately contributing to making a difference in people's lives."
"The Quotient™ platform is inimitable in the field of neuro-behavioral medicine," said Dave McLean, a general partner with Sevin Rosen Funds. "And Byron brings extraordinary experience to the Company to lead the expansion phase for the ADHD application. With a confluence of market factors working in its favor, we are excited about the opportunity ahead of BioBehavioral Diagnostics."
SOURCE BioBehavioral Diagnostics Company