Elucid announced that it closed a Series B financing round with proceeds totaling $27 million.
Boston-based Elucid’s Series B round was led by an undisclosed strategic investor. A new investor, Biovision Ventures, participated, as did existing investors MedTex Ventures, IAG Capital, Bold Brain Ventures and BlueStone Venture Partners.
Elucid designed its FDA-cleared and CE-marked software platform to objectively quantify plaque morphology validated against tissue specimens, with algorithms developed through machine learning able to characterize tissue types in the artery wall known to cause heart attacks, such as lipid-rich necrotic core, according to a news release.
The platform’s capability to discern complex plaque biology at the cellular and molecular level powers new applications that can derive fractional flow reserve (FFRct), risk of heart attack/stroke, and expression prediction to inform therapeutic selection. Elucid said its approach allows physicians to diagnose the direct cause of chest pain and also determine if patients have early-stage heart disease that can’t be seen by alternative methods.
Elucid said its platform “unlocks the power” to personalize clinical pathways and prevent the effects of atherosclerosis before they begin.
“Elucid is committed to providing physicians the most rigorously validated diagnostic platform to fight cardiovascular disease. Every patient is different and needs to be treated specific to his or her individual disease,” Elucid CEO Blake Richards said in the release. “We are so proud of the remarkable work our team has accomplished and this Series B allows us to expand our commercial reach. We warmly welcome our new investors and are grateful to our existing investors for their continued support in achieving our mission.”