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Press Release

Cardiac Imaging Company Genetesis Closes $1.2M in Seed Financing

Posted on: 14 Nov 16

Genetesis, a medical device startup that helps physicians see the electrical activity that makes a heart beat, has closed a $1.2M round of seed financing. The round was co-led by CincyTech and Mark Cuban’s Radical Investments, with participation from LOUD Capital, Danmar Capital, Wilson Sonsini Investment Company, Genetesis management and private angels.

Genetesis’s CardioFlux™ technology is a medical device that gives doctors an accurate, non-invasive tool for seeing how the heart beats. Currently, the widely used electrocardiogram (ECG or EKG) provides a snapshot of heart rate and rhythm during the test, but does not reflect many underlying problems that may exist when a patient is not experiencing symptoms. CardioFlux™ gives physicians 3D mapping tools, to understand each patient’s underlying electrical activity, which can potentially be used to diagnose, characterize, and guide treatment for a variety of cardiac disorders including myocardial ischemia, atrial fibrillation, ventricular tachycardia and a variety of other cardiac arrhythmias.

On Tuesday, November 15, Genetesis co-founder and CEO Peeyush Shrivastava will present findings at the American Heart Association Scientific Sessions. "Genetesis is presenting data collected in collaboration with the Mayo Clinic. These results demonstrate promising improvements for the noninvasive detection of ischemia in patients with high-risk chest pain, as compared to tools available in the emergency room today," said Shrivastava.

"The Genetesis technology opens broad new commercial markets for what has, for decades, been primarily a research tool. For millions dealing with the risks and anxiety of arrhythmias, atrial fibrillation and other cardiac diseases, this is a game changer," said businessman and investor Mark Cuban, who leads Radical Investments.

“CincyTech was attracted to this opportunity by the entrepreneurial verve of the team and their ability to very rapidly generate meaningful clinical data to validate the technology and the market,” said John Rice, PhD, Director of Life Sciences at CincyTech. “We believe the Genetesis technology can be expanded beyond the cardiac market to the sizable market of magnetic brain imaging.”

Genetesis was founded in Mason, Ohio in 2013 and now employs a team of ten. Genetesis will use this funding to scale its engineering, launch additional clinical studies and seek regulatory clearance from the FDA.

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Last updated on: 14/11/2016

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