MASON, Ohio--(BUSINESS WIRE)--After completing a seed round of funding raising $1.2 million for its new technology which offers a non-invasive tool for the detection and localization of cardiovascular disease, startup Genetesis has chosen the Mason Tech Elevator as its new home where company founders will work to scale the business for clinical testing and commercialization.
“We have found the right partner for long-term growth and talent attraction in the City of Mason,” said Peeyush Shrivastava, CEO of Genetesis and junior in biomedical science at The Ohio State University. “This is truly a milestone for us, and we love being in the middle of the growing biotech corridor in Mason.”
CardioFlux, the Genetesis technology, was developed by Peeyush and some of his high school friends, who are now co-founders with him. The technology monitors the electrical current flowing around a beating heart non-invasively. This ability to localize abnormalities of the heart through magnetic imaging is a game-changing discovery that could improve time to treatment for chest pain patients, potentially saving lives and substantial healthcare delivery costs.
“We are so enthusiastic about the potential to provide a thoughtful, patient-friendly diagnostic system for chest pain that will provide a fast, accurate diagnosis, reducing the number of tests needed, lengths of stay and overall costs,” said Alisa Niksch, M.D., Chief Medical Officer for Genetesis and Director of Pediatric Electrophysiology and Exercise Stress Lab at Tufts Medical Center in Boston.
Genetesis completed a preliminary study with 28 patients at the Mayo Clinic in Rochester, MN, and published results via poster at the American Heart Association’s 2016 conference. A new study to gauge accuracy on 100 patients will begin in May at St. John Hospital and Medical Center in Detroit.
Mason Mayor Victor Kidd said, “The future of our economy depends on how well we leverage and support powerful, life-changing discoveries like this one and help that technology reach the markets it serves.”
“Supporting groundbreaking bioscience technology like CardioFlux and the bright young minds that developed it is exactly why we established the Mason Tech Elevator program,” said Michele Blair, Director of Economic Development.
Genetesis announced it had raised $1.2 million in November of 2016 in a seed financing round led by CincyTech and billionaire Mark Cuban’s Radical Investments. Shrivastava says he approached Cuban with a direct appeal to his personal email. Cuban began as an advisor and then grew interested in investing.
“This young company has made considerable progress, already generating meaningful clinical data through its partnership with the Mayo Clinic,” said John Rice, PhD, Director of Life Sciences at CincyTech. “Mason continues to be a solid partner for us with several of our life science companies finding the resources, collaboration and connections to others in their field through a growing hub there.”