Cologne/Berlin, Germany, and Boston, MA, USA, May 13, 2024 – InfanDx AG i.L. ("InfanDx" or "Company", a privately held company originally focusing on the development and commercialization of novel diagnostic solutions for child health, today announced that its shareholder at the 2024 Annual General Meeting unanimously decided to liquidate the Company. This decision follows a recommendation by the Management and the Supervisory Board after a strategic review process.
InfanDx, founded in 2010, set out to address a diagnostic challenge in neonatal care by developing a test for the early detection of Hypoxic-Ischemic Encephalopathy (HIE) – brain damage in newborns caused by oxygen deprivation around the time of birth. At the time, metabolic biomarkers were prioritized as they showed potential, initially in animal models and later in case-control studies in humans (AAMBI). However, the final validation study (BANON) in early 2023 showed – after elimination of some study artefacts – that the biomarker panel did not show a performance that would sufficiently augment the standard-of-care in the clinical routine and hence can be turned into a viable product.
In further course of 2023 significant time was spent investigating other IVD approaches for the early detection of HIE. But the management came to the conclusion that none of those concepts were supported by sufficient evidence for a diagnostic company to engage in. As a result, the Management and the Supervisory Board recommended the liquidation of the Company.
The Management still hopes that future academic research will provide new approaches for the early detection of HIE helping to prevent life-long disabilities through early therapeutic intervention. To support this, the Company provided its clinical trial partners with full access to all data and all remaining study samples from its studies.
The shareholders at the 2024 AGM further appointed Dr. Achim Plum, previously Managing Director and CEO of InfanDx, as sole liquidator. Also, it was decided to reduce the Supervisory Board from previously six to three members. The Board Members Dr. Jörg Fregien, Mr. Paul Owsanowski, and Mr. Klaus Albrecht volunteered to step down once the change becomes effective. Hence, the Supervisory Board during the liquidation phase will consist of Mr. Wolfgang Kintzel (Chairman), Dr. Wolfgang Schwandner, and Mr. Gerhard Albert.
“I would like to use the opportunity to thank our Supervisory Board and our Shareholders for their support and loyalty over the last years – and their understanding and continued support at the end of the journey”, commented Dr. Achim Plum, Liquidator of InfanDx AG i.L. “Importantly, I would also like to thank the exceptional team I had the honor of working with. All the best for your future endeavors – I sincerely hope to work with you again in some future projects.”