CardioSignal Raises $10 Million in Series A as the First Technology to Detect Major Heart Diseases without Specialized Medical Hardware
January 23, 14:15
Patented Advances in Gyrocardiography Bring Affordable, Clinical-Grade Disease Detection to Remote Patients with Smartphones.
TURKU, Finland and PALO ALTO, Calif. — January 23, 2024 — CardioSignal today announced the closing of $10 million in Series A funding, led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc. David J. Kim, M.D., managing director of DigiTx, will be joining the board. To-date, CardioSignal has raised $23 million. The Series A investment will fund additional clinical validation of CardioSignal’s breakthrough technology and the expansion of its commercial efforts.
CardioSignal develops digital technologies and software-as-medical-devices to provide early detection of heart diseases, and provides the first and only technology to detect several major heart diseases with high accuracy using just one clinical modality without any specialized medical equipment.
CardioSignal’s technology harnesses gyroscope and accelerometer motion data from smartphones to measure specific rotational movements of the heart that can be used to accurately detect abnormal heart function. The analysis takes place utilizing a smartphone placed on the patient’s chest for a one-minute measurement. A clinically validated algorithm analyzes the motion data in a secure cloud service and provides immediate results.
The company has 52 patents covering its method and clinical algorithms, which are based on gyrocardiography and have been heavily researched and documented in more than 20 peer-reviewed scientific publications.
Currently, CardioSignal’s technology produces digital biomarkers validated in clinical studies for Atrial fibrillation (A-fib) and Heart failure, with additional development ongoing for Aortic stenosis, Coronary artery disease, and Pulmonary artery hypertension. The CardioSignal application is already available in 15 countries as a class IIa medical device for detecting signs of Atrial fibrillation.
The societal impact of the technology is accelerating heart disease detection for millions who are currently underdiagnosed or at risk of developing a serious condition. The ability to access care through smartphones solves critical issues in healthcare reach. Healthcare inequities is a major reason why cardiovascular diseases are the #1 killer in the world.
“More than 20 million people die each year from cardiovascular diseases. This funding enables us to scale a detection and remote monitoring solution for primary care doctors and their patients. Currently, primary care has very limited tools to detect heart diseases, like heart failure patients who are often already experiencing symptoms. We can support the shift in cardiovascular care from treating complications to earlier detection and prevention,” said cardiologist Dr. Juuso Blomster, founder and CEO of CardioSignal.
“CardioSignal has the potential to meaningfully impact heart disease on a global basis. Besides the ability to detect various heart diseases, which continue to be one of the common causes of death, CardioSignal has lowered the barrier to the adoption of its technology by making it readily available to all individuals who have smartphones. We can reach millions of at-risk patients and make a real impact,” said David J. Kim, managing director of DigiTx Partners.
Selected Company Highlights:
March 2018 – Clinical validation of atrial fibrillation detection published in Circulation (2018): Mobile Phone Detection of Atrial Fibrillation With Mechanocardiography. The MODE-AF Study
February 2019 – CardioSignal application earns CE Marking as a Class IIa medical device in Europe for detecting signs of atrial fibrillation
March 2022 – CardioSignal wins the American College of Cardiology (ACC) Innovation Prize
October 2022 – CardioSignal wins the American Heart Association (AHA) EMpowered to Serve grant to advance health equity
November 2022 – Partnership with OMRON Healthcare
November 2022 – Ursula Burns, former chairwoman and CEO of Xerox Corporation, member of Mayo Clinic's Board of Trustees, and Uber board member, joins CardioSignal’s Board of Directors
August 2023 – The technology’s heart failure detection capabilities presented at the European Society of Cardiology Annual Meeting in Amsterdam
About CardioSignal:
CardioSignal is a brand and a product by Precordior Ltd, an ISO 13485 and 27001 certified health technology company formed in 2017 and headquartered in Turku, Finland. Subsidiary CardioSignal Inc is based in Palo Alto, CA, USA. CardioSignal develops groundbreaking solutions for the detection of heart diseases using digital cardiac biomarkers. The CardioSignal technology utilizes the gyroscope and accelerometer motion sensors to non-invasively measure heart motion to determine cardiac health and function. Originally an academic spin-off, the company’s patented gyrocardiography technology is built on a decade of research and algorithm development.
Europe: cardiosignal.com
USA: us.cardiosignal.com
Press Contacts:
Europe:
Juulia Simonen
CardioSignal
juulia.simonen@cardiosignal.com
tel: +358 503 059 018
USA:
Barbara Zamost
Rocket Science PR
zamost@rocketscience.com
mobile: +1 415 987 2810
