Published 06 October 2017
Cardiologs Technologies has raised $6.4m series A financing with a syndicate of life science and technology investors (Idinvest, ISAI, Kurma Partners, Partech Ventures) and with continued support and participation from current investor Bpifrance seed fund (F3A).
This round brings total funding of Cardiologs to $10 million. Proceeds will be dedicated to fast-forward commercialization of the Cardiologs ECG Analysis Platform in the United States and Europe.
“Ambulatory ECG analysis and reporting is a labor-intensive process that can result in delays for arrhythmia detection and increased costs,” said Yann Fleureau, co-founder and CEO of Cardiologs Technologies.
“Our Cardiologs team has trained a neural network using more than 500,000 recordings, and this training dataset keeps growing,” said Fleureau. “The result is that Cardiologs is designed to recognize patterns in a cardiac signal for fast and precise analysis of heart diseases in a similar intuitive manner as expert cardiologists,” said Fleureau.
In July 2017, Cardiologs announced FDA clearance of its Cardiologs ECG Analysis Platform, an ECG- analysis web solution powered by Artificial Intelligence (AI). Cardiologs assists physicians in screening for 10 arrhythmias including Atrial Fibrillation (AFib) using ambulatory ECG monitoring recordings.
Atrial Fibrillation (AFib) is the most common human arrhythmia, affecting about 33 million patients worldwide. AFib is a growing problem in cardiovascular disease and is associated with an increased risk of severe stroke, heart failure, and death.1
AFib is often asymptomatic and silent with stroke as the first manifestation. Recent stroke registries indicate that AFib is associated with one-third of all ischemic strokes.
The Ambulatory ECG records continuously the electrical activity of the heart (ECG) up to a few weeks. It is the gold standard examination to detect AFib and other arrhythmias (for example bradycardia, which is a cause of syncope).
The Ambulatory ECG analysis aims to detect the episodes of arrhythmia. Only a few minutes of arrhythmia can occur during a whole week of recording, making the process labor- intensive.
Solving ambulatory ECG analysis results in significant cost-savings for the healthcare system, earlier diagnostic and decreased risk of stroke for the patient, time savings and increased performance for the healthcare professional.
A cardiologist recovers a digital ECG from any compatible ECG device — such as a Holter monitor, smartwatch, ECG patch or even a connected t-shirt—then uploads it to the Cardiologs cloud and is able to immediately leverage our technology to identify relevant events.
It is especially powerful for long-term recordings that require today a very laborious manual analysis process.
ECG monitoring product and service companies can also benefit from Cardiologs in just three lines of code via the company’s web API.
The Cardiologs solution is CE-marked and has been approved to detect up to 100 cardiac abnormalities in Europe. Currently, the detection of 10 significant arrhythmias is available in the United States, which covers most clinical cases of ambulatory ECG monitoring. The company plans to further extend its AI capacity beyond ECG diagnostics claims.
Source: Company Press Release