Cardiosense Inc. announced this week that it raised $15.1 million in Series A funding.
The round was led by Broadview Ventures and Hatteras Venture Partners, with participation from Laerdal Million Lives Fund, OSF Ventures, UnityPoint Health Ventures and Portal Innovations.
The Chicago-based digital health company will use the capital to expand its team, accelerate product development and fund a heart-failure study.
The company also hopes to get regulatory clearance for its CardioTag product, a wearable device for wireless patient monitoring, and continue to build its AI platform that analyzes raw physiological signals to combat preventable cardiovascular disease with guided, personalized therapy.
Earlier this year, the company’s noninvasive algorithm solution that identifies patients at risk of decompensated heart failure received designation from the U.S. Food and Drug Administration Federal to be a “breakthrough device.”
The algorithm analyzes data collected from the CardioTag device to assess physiological changes that occur before an acute heart failure event such as pulmonary capillary pressure.
Cardiosense plans to launch a nationwide study in 2023 to further evaluate and refine the algorithm.
“Effectively forecasting and preventing the development of acute heart failure remains one of our greatest unmet clinical needs,” said Liviu Klein, chief of Advanced Heart Failure at the University of California, San Francisco, and lead clinical advisor for Cardiosense, in a news release.
