Analytics 4 Life raises $25m for AI-based cardiac imaging
October 10, 2017
Analytics 4 Life has raised $25m in series B financing to advance its artificial intelligence-backed cardiac imaging technology. The funding will advance the proprietary imaging technology designed to assess coronary artery disease (CAD).
The Canadian digital health company is applying the power of artificial intelligence to develop methods that improve existing care pathways. The cardiac imaging technology is under clinical investigation to help physicians assess the presence of CAD using intrinsic signals scanned from the body without radiation, contrast agents or cardiac stress.
The financing was supported by an international syndicate of accredited investors, including physicians, healthcare professionals and medical device experts.
"Heart disease is the leading cause of death globally, with one in seven deaths in the USA attributed to CAD," said Don Crawford, CEO of Analytics 4 Life. “We are thankful for the continued support from passionate investors who have made it possible for us to revolutionise the way that CAD is diagnosed. Securing this oversubscribed financing fuels our rapid growth to advance development of our diagnostic tool and gives us the resources we need to deliver this game-changing technology to patients and physicians."
Current diagnostic methods for CAD are costly, risky and time-consuming. Analytics 4 Life seeks to address this with its cardiac imaging. The technology represents a different approach to cardiac imaging based on mathematics and physics combined with the power of cloud computing and artificial intelligence. The first application of this technology is Corvista, a non-invasive, physician-directed diagnostic test that aims to identify the presence of CAD without radiation or cardiac stress.
Corvista is designed to scan signals naturally emitted by the body with a synchronous array of seven sensors on Analytics 4 Life's proprietary collection device. After the signals are acquired, the signal package is transmitted to the cloud where it is analysed by a machine-learned algorithm to generate a unique image and a heart model indicating areas of potential heart disease associated with the presence of CAD.
The results of the test are displayed on a secure physician web portal that, with a patient's medical history, risk factors and symptoms, are used by the interpreting physician to recommend further treatment.
A two-stage clinical trial at 13 sites in the USA is underway to support Corvista's development and regulatory filings. The study, with more than 2000 patients enrolled so far, will measure the performance of a machine-learned algorithm for CAD detection to gold-standard cardiac catheterisation results.
Preliminary results will be presented this month at the Transcatheter Cardiovascular Therapeutics (TCT) conference in Denver. Assuming a positive FDA review, the company anticipates having Corvista available in the USA next year.
The company also announced the appointment of Aaron Berez to its board of directors. Berez is the founder and CEO of Alembic, an early-stage medical device company, and has been leading and advising medical device companies for more than 20 years.
"Today marks an important milestone for the company, but also for the 15.5 million Americans living with coronary heart disease," said Berez. "I'm excited and honoured to join Analytics 4 Life's board of esteemed experts as we chart a path towards bringing this potentially transformative way to diagnose cardiovascular disease to patients and physicians."
Previously, Berez co-founded and served as CEO of Chestnut Medical, acquired by Ev3 (now Medtronic) in 2009, where he led the development of the pipeline embolisation device for the treatment of complex intracranial aneurysms. Berez is currently an investor, advisor and director to privately held medical device companies focused on capital-efficient medical device development.
CAD is when the heart becomes weakened from a deficient supply of oxygenated blood due to a build-up of plaque in the coronary arteries, which can lead to blood clots, chest pain and cardiac arrest. CAD affects approximately 15.5 million Americans and is the number one cause of death in the USA.
Analytics 4 Life is based in Toronto with US headquarters in Research Triangle Park, North Carolina.