Funding will accelerate commercialization of Elucid’s AI-powered cardiovascular imaging platform and expand strategic partnerships with leading medical technology companies
BOSTON–(BUSINESS WIRE)–#AIinHealthcare—Elucid, a medical technology company using AI-powered, clinically validated software to advance precision diagnosis and treatment of cardiovascular disease, today announced the raise of $55 million in an oversubscribed Series D financing. The round brings Elucid’s total funding raised to date to approximately $185 million and includes new participation from a large medtech company, which joins as Elucid’s fourth publicly-traded strategic investor. The addition of this strategic investor to Elucid’s syndicate of publicly traded partners underscores the growing industry confidence in Elucid’s approach to non-invasive cardiovascular diagnostics.
The Series D also includes participation from other new and existing investors, including IAG Capital Partners and Elevage Medical Technologies, a platform created by Patient Square Capital. Proceeds from the financing will be used to accelerate commercial expansion of Elucid’s comprehensive clinical platform, including FFR-CT (510(k) submission currently under FDA review) and Plaque-IQ™, as well as to continue Elucid’s leadership in novel AI R&D and in advancing the field through landmark clinical studies.
Elucid is preparing for full commercial launch with FDA clearance of its 510(k) submission for its BioIntegrated FFR-CT product that is designed to offer high accuracy and reproducibility compared to invasive FFR. Alongside its FDA-cleared Plaque-IQ, Elucid intends for FFR-CT – together with a novel user interface and reporting workflow – to form a comprehensive clinical decision platform. Plaque-IQ is the only FDA-cleared, non-invasive method capable of quantifying the highest-risk plaque type and plaque composition in coronary and carotid arteries with accuracy validated against histopathology.
By converting routine CT angiography into detailed, quantitative insights based on plaque biology, vessel anatomy, and FFR physiology, Elucid’s technology is designed to help clinicians better stratify at-risk patients and personalize treatment strategies for atherosclerotic cardiovascular disease — the leading cause of death worldwide.
“Analogous to oncology’s shift from population-based, one-size treatment, Elucid is applying AI to integrate anatomy, biology, and physiology to bring personalized treatment to coronary artery disease management. Physician feedback indicating that our current platform can uniquely lead to better care decisions fuels our mission to predict and personalize the prevention of heart attacks and strokes,” said Kelly Huang, PhD, chief executive officer of Elucid.
About Elucid
Elucid is a Boston-based medical technology company that develops AI to see invisible features of cardiovascular risk. The company is dedicated to developing a clinical platform to help physicians deliver CCTA-guided personalized care by providing a more precise view of atherosclerosis, the root cause of cardiovascular disease. The company’s FDA-cleared Plaque-IQ™ image analysis software is designed to help physicians prioritize and personalize treatment based on actual disease, rather than population-based risk of disease. Plaque-IQ equips physicians with critical information regarding the type and amount of plaque in arteries that can lead to heart attack and stroke. Elucid is also pursuing an indication for FFR-CT, which helps physicians identify coronary blockages and the extent of a patient’s ischemia non-invasively. Elucid’s BioIntegrated FFR-CT product, which integrates anatomy, plaque biology, and physiology, is derived from its plaque algorithm, resulting in concordance with its plaque analysis. For more information, visit elucid.com.
Contacts
Media Contact
Sam Choinski
Pazanga Health Communications
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860-301-5058
