Cardiac Insight, a University of Washington spinoff, has closed a $2.5 million Series C round. The funding will be used to support the advancement of the handheld CardeaScreen ECG device — which it acquired through its purchase of Cardea Associates in October last year. It will also go towards finalizing the development of the proprietary wearable sensor technology.
CardeaScreen is intended to improve the reliability of electrocardiograms to identify cardiovascular problems tied to sudden cardiac arrest in young athletes. Its 12-lead electrocardiogram takes less than 20 seconds, according to the company. The wireless hand-held device and clinical decision support software help physicians determine whether the athletes need further evaluation before they take part in strenuous activities.
It also developed a mini wearable patch called Stealth, to read ECGs and pick up signs of afibrillation, which could indicate a stroke risk. It secured 510(k) clearance a couple of years ago.
The company’s investors include Kirby Cramer, the former chairman of Sonosite; Dick Martin, the former CEO of Physio-Control; and WRF Capital, according to Xconomy.
Among the medical device businesses competing in this space are iRhythm Technologies, which developed the ZIO Patch to detect afib in adults. Gilead Sciences and Scripps Translational Research Institute are doing clinical studies of the ZIO Patch. Medtronic acquired cardiac wearable developer Corventis in 2014, MobiHealthNews reported at the time.
One of the challenges medical device companies in this area face is that cases of Sudden Cardiac Death are not regularly reported because there’s a lack of shared standards and definitions for reporting them. The condition happens when the heart suddenly and unexpectedly stops beating and blood stops flowing to the brain and other vital organs, according to the National Institutes of Health’s website.
That’s why the Centers for Disease Control and National Institutes of Health set up a registry in 2013. It was designed to collect “comprehensive, population-based information on sudden unexpected death in youths up to age 24 in the United States.”
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Photo from flickr user Garrett Ammon
