Genetesis, a Mason, OH-based biomagnetic imaging company, closed a $17.5m Series C Financing round.
The round, which brought total funding to over $40m, was led by Mithril Capital with participation from Cercano Management as well as from existing investors, including JobsOhio Growth Capital, Ohio Innovation Fund and CincyTech.
The company intends to use the funds to obtain FDA De Novo approval, launch a new series of clinical trials, and commercialize and launch its biomagnetic systems globally across a variety of care settings.
Led by Peeyush Shrivastava, co-founder and CEO, Genetesis has developed the CardioFlux platform, which leverages magnetocardiography to offer patients a rapid scan without the use of any radiation, contrast, or exercise. CardioFlux was cleared by FDA in 2019 and obtained FDA Breakthrough Device Designation in December 2020. Over the past several years, CardioFlux has been clinically investigated in hundreds of patients with suspected acute and chronic coronary syndromes – as well as in patients with confirmed coronary microvascular dysfunction.
This financing comes as Genetesis enters the final month of primary enrollment in the ACCMED trial, which includes participation from Cleveland Clinic, Ascension St. John, Wake Forest Baptist Health, and Beaumont Royal Oak Hospital.
FinSMEs
07/10/2022