CardioInsight Technologies Closes $6 Million Funding Round

CLEVELAND--(BUSINESS WIRE)--CardioInsight Technologies Inc., a leading developer of non-invasive electrocardiographic mapping technology, recently closed a $6 million Series B round of funding. Draper Triangle Ventures, Case Technology Ventures, Dr. Michel Haissaguerre, a leading international electrophysiologist, and Company Management all participated in the funding round.

“This infusion of capital will accelerate commercialization of our transformative mapping technology, allowing doctors to more accurately, quickly and effectively diagnose and treat cardiac arrhythmias and congestive heart failure”

CardioInsight’s electrocardiographic mapping technology gathers electrical information about the heart from an electrode ‘vest’ placed on a patient’s body and combines it with images from a CT scan to provide 3D maps of the electrical activity of the heart. Unlike conventional methods, CardioInsight’s technology is non-invasive and provides beat-by-beat whole heart mapping. The technology’s strengths in guiding the treatment of arrhythmias and heart failure have been demonstrated in more than 125 pre-procedural and intra-procedural patient studies at clinical centers including University Hospitals of Cleveland, Loyola Chicago, and Hôpital Cardiologique du Haut–Lévèque in Bordeaux, France.

“This infusion of capital will accelerate commercialization of our transformative mapping technology, allowing doctors to more accurately, quickly and effectively diagnose and treat cardiac arrhythmias and congestive heart failure,” said Steve Arless, CardioInsight’s CEO.

With the close of the investment round, CardioInsight will accelerate and expand its clinical studies program to include new centers such as the Cleveland Clinic and the Penn Medicine Hospital University of Pennsylvania, as well as to complete the product development program for the first commercial system, targeted for regulatory approval and commercial release in 2011.

About CardioInsight Technologies Inc.

CardioInsight Technologies is commercializing a breakthrough technology that will significantly improve the diagnosis and treatment of a number of critical heart conditions. For example, this new patient information will help in diagnosing and treating electrical abnormalities of the heart like arrhythmias and improve the delivery of electrically based cardiac therapies like cardiac resynchronization therapy. The Company’s patented technology combines body surface electrical data with detailed anatomical data from chest CT scans to non-invasively map electrical activity for the entire heart, beat by beat. CardioInsight’s non-invasive electrocardiographic mapping technology, which originated from Case Western Reserve University’s Department of Biomedical Engineering, provides significantly more information than body surface electrocardiograms and other advanced intracardiac mapping systems.