CathWorks receives $30M in new funding for CAD-focused angiography system
Medical technology company CathWorks has received $30 million in new funding for its novel, noninvasive fractional flow reserve angiography system, the firm announced recently.
CathWorks, which lists headquarters in both Israel and California, said proceeds from this Series D financing round will go toward furthering the commercialization of its FFRangio system.
“We are delighted to have received this round of funding, which included both new and existing investors,” CEO Jim Corbett said in a statement released on Jan. 7 “This funding paves the way for continued commercialization and expanded access to the technology for physicians, hospitals and patients."
The system is a noninvasive technology that transforms routine angiogram images into “objective and comprehensive” physiology information. According to the company, that includes color-coded 3D images of blood flow within the heart’s arteries designed to help physicians personalize care for coronary artery disease.
Founded in 2013, CathWorks focuses on developing advanced platforms to enhance CAD therapy decisions and seeks to take coronary angiography from visual-based assessments to an objective FFR-based tool, according to its website. The firm received U.S. Food & Drug Administration 510(k) clearance for its FFRangio system in 2018.
"The non-invasive FFRangio system has the potential to become standard of care, providing significant clinical and economic value," Corbett added.
Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.