Mithril Capital-led Series C to launch 5-minute noninvasive ischemia assessment requiring no pharmaceuticals, no exercise, and no radiation.
MASON, Ohio (BUSINESS WIRE) Genetesis, the market leader in next-generation biomagnetic imaging, has announced that it has closed $17.5 million in Series C Financing. The round was led by Mithril Capital with participation from Cercano Management as well as from existing investors, including JobsOhio Growth Capital, Ohio Innovation Fund and CincyTech. This investment brings the company’s total funding to over $40 million.
This financing comes as Genetesis enters the final month of primary enrollment in the ACCMED trial, which includes participation from Cleveland Clinic, Ascension St. John, Wake Forest Baptist Health, and Beaumont Royal Oak Hospital. Genetesis, alongside their participating centers, anticipates that the ACCMED trial will demonstrate magnetocardiography to be a paradigm shift in cardiac imaging as both an efficient and patient-centric solution for the identification of ischemic heart disease – especially as it compares to today’s standard of cardiac care.
“The team at Genetesis is pioneering a new era for medical imaging with an initial focus that is truly revolutionary for cardiovascular health. With the promise of enabling clinicians to quickly diagnose cardiovascular dysfunction in a non-invasive fashion, CardioFlux will be instrumental in fighting the leading cause of death around the globe,” said Ajay Royan, Managing General Partner and Co-founder of Mithril Capital. “Millions of Americans and their clinicians stand to benefit from CardioFlux’s goal of an accurate, noninvasive, 5-minute frontline cardiac assessment that entails no pharmaceuticals, no exercise, and no radiation. We are thrilled to partner with Genetesis at this exciting stage of development.”