Elucid announced the end of its Series D financing round, having raised $55 million and bringing the company’s total funds raised to date to $185 million.
The Boston-based company will utilize the investments to accelerate commercial expansion of its FDA-cleared plaque assessment tool, Plaque-IQ, and its non-invasive fractional flow reserve—computed tomography (FFR-CT) analysis system, pending FDA review. It will also support Elucid’s clinical studies and AI research and development.
Financial contributions were made by new and existing investors. An unnamed medtech company joined this round as Elucid’s fourth publicly traded strategic investor. Other participants include IAG Capital Partners and Elevage Medical Technologies, according to a news release posted yesterday.
Plaque-IQ allows clinicians to quantify the highest-risk plaque types and compositions in coronary and carotid arteries. Once the FFR-CT product, designed to offer high accuracy and reproducibility compared to invasive FFR, is FDA approved, Elucid will combine the products with a novel user interface to form a comprehensive clinical decision platform, according to a news release.
The platform will bring together quantitative insights based on plaque biology, blood vessel anatomy and FFR physiology. It is designed to allow clinicians to personalize treatment plans and to better understand the needs of at-risk patients.
“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,” said Kelly Huang, PhD, CEO of Elucid, in a news release. “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.”
