BOSTON, Dec. 15 Rcadia Medical Imaging, Ltd., developer ofthe COR Analyzer(TM) software for the automated analysis of coronary CTangiography (CCTA) studies, has closed a $3.3M investment round led byBioVentures Investors of Cambridge, MA, Rcadia announced today. Existinginvestors, including 20/20 HealthCare Partners, also participated in thefinancing.
Developed by leading Israeli image processing scientists, the CORAnalyzer(TM) enables rapid and effective triage of chest pain patients.Immediately after a Coronary CTA study, the COR Analayzer(TM) identifiespatients who need further evaluation for severe coronary artery disease,versus those who can be safely discharged. While improving emergencydepartment (ED) workflow, the Rcadia application also can lead to more rapiddiagnosis, enabling appropriate treatments and avoiding unnecessary delays forpatients without coronary artery disease.
Shai Levanon, Rcadia President and CEO, said that the proceeds of thefinancing will fund the full commercial launch of the COR Analyzer(TM) and theestablishment of a U.S. office to support North American sales and marketing.
"We are extremely pleased to be partnering with BioVentures Investors inthis financing round," commented Hillel Bachrach, Executive Chairman of theBoard of Directors and Managing Partner at 20/20 HealthCare Partners."BioVentures has unique expertise in the commercial development of advancedtechnology in the life sciences." (www.bioventuresinvestors.com)
Simultaneous with the financing, Peter Feinstein, General Partner,BioVentures Investors, and Alex Norbash, M.D., Chairman of Radiology, BostonUniversity Medical Campus, have joined Rcadia's board of directors.
About Rcadia Medical Imaging
Rcadia Medical Imaging is the principal developer of automatic imageprocessing software products for blood vessel analysis. The company's FDAcleared COR Analyzer(TM) performs analysis of Coronary CT angiography (CCTA)studies and automatically without human intervention identifies severe lesionsin the main coronaries. The COR Analyzer(TM) is aimed at triaging patients inthe ED, improving workflow in the radiology and cardiology departments andserving as 'second eye reader' to prevent miss-reading of severe lesions inCCTA studies. (www.rcadia.com)
About BioVentures Investors
BioVentures Investors, based in Cambridge, Massachusetts, has threeventure funds focused on the commercial development of advanced technology inlife sciences and healthcare. The three general partners have all been CEOsof companies active in the life sciences and healthcare industry. BioVenturescurrently has over $145 million under management.(www.bioventuresinvestors.com)
About 20/20 HealthCare Partners
20/20 HealthCare Partners LLC (20/20HCP) is a Boston-based partnershipproviding management services and equity financing for medical devicecompanies with promising growth potential. 20/20HCP's unique focus is ondiagnostic imaging and diagnostic image enhancement applications as well as onthe evolution of diagnostic imaging in personalized medicine. 20/20HCPestablishes a structure and strategic partnerships for the earlyidentification of opportunities, as well as expedites opportunity developmentthrough nimble management and short product development cycles.(www.2020hcp.com)
SOURCE Rcadia Medical Imaging, Ltd.