CHICAGO, December 8, 2022 /PRNewswire/ — Cardiosense, Inc., a Chicagoa digital health company based on artificial intelligence and multi-sensor devices to enable early detection of cardiovascular disease, announced today that it has raised $15.1 million in a Series A funding, co-led by Broadview Ventures and Hatteras Venture Partners, with participation from Laerdal Million Lives Fund, OSF Ventures, UnityPoint Health Ventures and Portal Innovations. The capital will be used to support team expansion, accelerate product development and fund a large heart failure study.
“We are thrilled to have our new investors join our mission to fight preventable cardiovascular disease,” said Amit Gupta, co-founder and CEO of Cardiosense. “Recent data has underscored both the need and potential impact of actionable patient monitoring solutions and this capital allows us to accelerate the clinical development of our platform.”
Cardiosense’s founding team has been developing the underlying technologies for more than a decade and the company will seek regulatory clearance for its clinical-grade, multi-parameter wearable device, CardioTag, next year. The company is also building an advanced AI platform that analyzes raw physiological signals to develop digital biomarkers to identify at-risk patients and enable guided, personalized therapy.
The company’s first clinical application focuses on improving the management of congestive heart failure (CHF), a condition that affects more than 6 million people in the United States and is expected to cost more than $70 billion each year by 2030. Earlier this year, Cardiosense received Breakthrough Device designation from the FDA for its heart failure early detection algorithm and the company plans to initiate a nationwide clinical study in 2023 to refine and validate the algorithm on a diverse population of patients with CHF.
“To effectively predict and prevent the development of acute heart failure remains one of our greatest unmet clinical needs,” said Dr. Liviu Klein, MD, chief of advanced heart failure at UCSF and senior clinical advisor for Cardiosense. “Cardiosense’s technology has the potential to directly address this population-level challenge by providing an accurate, non-invasive solution to identify at-risk patients and enable early therapeutic interventions.”
As part of the investment, Daniel Gottlieb and Jeff Terrel of Broadview Ventures and Hatteras Venture Partners will join Cardiosense’s board of directors, respectively.
“Cardiosense’s innovative approach has the potential to significantly increase the number of heart failure patients who are actively monitored for worsening symptoms. wide view is thrilled to partner with this outstanding team and union to support the next phase of business growth,” said Daniel Gottlieb of Broadview Ventures.
“Hatteras is excited to support the Cardiosense team in the development of this novel cardiac monitoring technology and the potential of its embedded device and AI platform to advance remote care of heart disease,” said Jeff Terrel of Hatteras Venture Partners. “We have been impressed with the work done to date and look forward to being part of this journey among such great partners.”
About Cardiosens
Cardiosense is building a physiological waveform AI platform to develop predictive biomarkers to detect and manage heart disease. The company has developed a suite of new digital tools, multi-sensor devices and analysis algorithms to detect early signs of cardiovascular disease, inform personalized therapy and improve patient outcomes. For more information, visit: www.cardiosense.com.
About Broadview Ventures
Broadview Ventures is a mission-driven investment organization that makes targeted investments in early-stage companies to accelerate the development of innovative therapies, devices, digital health and diagnostics for cardiovascular disease and stroke. wide view is affiliated with the Leducq Foundation. For more information, visit: www.broadviewventures.org.
About Hatteras Venture Partners
Founded in 2000 and based in Durham, North Carolina, Hatteras Venture Partners is a venture capital firm focused on seed and seed investments in healthcare. Across seven funds and more $750 million under management, the company has invested in groundbreaking science and entrepreneurial courage in biopharmaceuticals, medical devices, diagnostics, health informatics and related opportunities in human medicine. To learn more, please visit www.hatterasvp.com.
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SOURCE Cardiosense
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