Medical technology company Elucid raises $ 8 million

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  • Elucid – a medical technology company developing AI software to enable detection of cardiovascular disease – recently announced that it has raised $ 8 million in Series A funding. These are the details.

Elucid – a medical technology company developing AI software to enable detection of cardiovascular disease – recently announced that it has raised $ 8 million in Series A funding led by MedTex Ventures and Global Health Impact Fund. And new and existing investors Checkmate Capital, IAG Capital, BlueStone Venture Partners, University of Michigan – Wolverine Venture Fund, Willamette Valley Capital LLC, and Angel Physicians Fund have also joined the cycle.

Elucid is known to use uniquely interpretable and validated AI to provide physicians with a cost-effective means of optimizing treatment decisions for patients with known or suspected cardiovascular disease. And ElucidVivo’s advanced clinical information provides physicians with essential information designed to enable precision medicine.

ElucidVivo is known as the first non-invasive software approved by the FDA and CE marked to quantify the characteristics of atherosclerotic plaque against histopathology, including Lipid Rich Necrotic Core. And the company recently published studies for its derivative of fractional flow reserve (FFRct) based on the vasodilator capacity of the vascular wall and the estimation of coding and non-coding RNA transcripts. This unique information informs better treatment decisions by physicians, leading to better patient outcomes, better quality of care, and lower healthcare costs.

Jason Bottiglieri has also joined Elucid as Chief Commercial Officer. Bottiglieri has over 25 years of experience in the cardiovascular device industry, including as CEO of Infraredx and in senior sales roles at Medtronic, Spectranetics and Cordis (a Cardinal Health company).

Murali Ayyapillai has joined as VP of Engineering and brings 25 years of imaging R&D experience, most recently as VP of iNtuition Development, responsible for TeraRecon’s flagship application suite. Prior to TeraRecon, Ayyapillai was a senior software engineer at Siemens.

KEY QUOTES:

“We are very happy to welcome our new investors to Elucid at this exciting time for the company. This latest round of funding will allow us to continue advancing our unique technology for non-invasive risk estimation for cardiovascular events, myocardial ischemia and therapeutic response. This funding is validation of the market’s need for technology like Elucid’s to enable more accurate diagnosis of cardiovascular disease and patient-specific treatment decisions. We are also announcing today the addition of Jason Bottiglieri and Murali Ayyapillai to our leadership team. Their extensive experience and expertise in the cardiovascular field will be of great benefit to Elucid as we continue to advance and commercialize our technology. “

– Blake Richards, CEO of Elucid

“We are excited to be part of Elucid’s mission to transform cardiovascular disease diagnostics, especially as they begin to realize the significant commercial potential of this technology platform. “

– Dr Ashok Gowda, partner at MedTex Ventures

“The work performed by the Elucid team has the potential to change the standard of care for heart and neurovascular patients, resulting in cost savings and superior outcomes by enabling precision medicine. “

– Orrin Ailloni-Charas, CEO of the Global Health Impact Fund.

“Our team continues to develop our product portfolio by leveraging the power of our ideas. This latest round of funding allows us to realize key aspects of our vision. Understanding the nature of vascular disease and addressing some of the challenges that have previously held back the field allows Elucid to reduce stressful procedures for patients while simultaneously improving the diagnostic power available to clinicians seeking to improve outcomes.

– Founder, President and Technical Director of Elucid Andrew Buckler


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