Cardiac Biomarker Company Critical Diagnostics Completes Financing For Market Expansion

SAN DIEGO--(BUSINESS WIRE)--Critical Diagnostics, makers of the Presage® ST2 Assay, today announced it has completed a private placement for an undisclosed amount of capital to expand its commercialization efforts in the U.S., Europe and the Asia Pacific regions.

“This will allow us to take full advantage of the rapidly growing demand for ST2”

“This will allow us to take full advantage of the rapidly growing demand for ST2," says David Geliebter, Chief Executive Officer of Critical Diagnostics. “Today we move a step closer to realizing our founding vision of building a leadership role in helping in the treatment and management of cardiovascular disease by offering innovative solutions that save and improve lives while reducing overall healthcare costs.”

“Some 23 million people worldwide suffer from heart failure,” notes James Snider, President of Critical Diagnostics. “It is the number one reason people aged 65 or older are hospitalized. More alarming, of all heart failure patients discharged from the hospital, one-quarter will be readmitted within 30 days. The Presage ST2 Assay is a non-invasive blood test that allows for the early identification of these high-risk patients. Using ST2 as part of a patient management program can reduce 30-day rehospitalization rates by 17.3% and also reduce 30-day mortality rates by 17.6%.”

About Critical Diagnostics and ST2

Critical Diagnostics (www.criticaldiagnostics.com) develops novel biomarkers to help physicians optimize patient care in cardiovascular diseases. The Presage ST2 Assay has been CE Marked and cleared by the US FDA for use in risk stratification with chronic heart failure patients.