Analytics 4 Life has announced a completed $25 million Series B round of funding.
The Toronto-based digital health company uses AI to create and develop solutions that improve already implemented care pathways. The financing was unique in the sense that it came from an international syndicate of accredited investors, including physicians, healthcare professionals and medtech experts.
Currently, Analytics 4 Life’s cardiac imaging technology is undergoing clinical investigations to help doctors assess whether coronary artery disease (CAD) is present in a patient. The technology uses intrinsic signals scanned from the body, without the use of potentially damaging procedures that produce side effects such as radiation, contrast agents or cardiac stress.
“Heart disease is the leading cause of death globally, with 1 in 7 deaths in the U.S. attributed to CAD. We are thankful for the continued support from passionate investors who have made it possible for us to revolutionize the way that CAD is diagnosed,” said Don Crawford, CEO of Analytics 4 Life. “Securing this oversubscribed financing fuels our rapid growth to advance the development of our diagnostic tool and gives us the resources we need to deliver this game-changing technology to patients and physicians.”
The normal ways to diagnose CAD right now are cost-intensive and potentially risky to patients, and Analytics 4 Life recognized this. The company’s new procedure for cardiac imaging combines mathematical and physics elements with cloud computing and AI. The first iteration of this new technology is CorVista, a non-invasive physician-directed diagnostic test that can identify signs of CAD without the use of radiation or cardiac stress.
CorVista scans the body for naturally emitted signals and gathers them with seven sensors. Those signals are sent to the cloud, where they are analyzed by a machine-learning algorithm that generates an image and heart model. That model is displayed on a secure web portal for the doctor to see, and along with a patient’s medical history and risk factors, paints a much clearer picture of whether CAD is present or possible.
The new technology is currently in a two-stage trial at 13 sites in the U.S. and if everything continues as is, Analytics 4 Life hopes CorVista will be available widely through North America in 2018.
In addition to the Series B funding announcement, Analytics 4 Life also added Dr. Aaron Berez to their board. Berez is the founder and CEO of early-stage medtech company Alembic LLC.