Cardiac imaging technology developer Genetesis announced today that it completed a Series B financing round worth $9.2 million.
Significant investments from TDK Ventures and an undisclosed Fortune 500 company helped to complete the funding, according to a news release. Returning investors CincyTech, Ohio Innovation Fund and Mark Cuban also contributed.
Mason, Ohio-based Genetesis develops the CardioFlux magnetocardiograph (MCG) for triaging chest pain. The CardioFlux allows physicians to measure and record magnetic fields in the heart in a few minutes with the potential of lowering the length of stay in the emergency room.
The CardioFlux MCG operates without the use of ionizing radiation, exercise or the need for specialized room modifications, according to a news release.
“Magnetocardiography has been around for over four decades but we felt that Genetesis has made the right technical plus business model innovations to solve the chest pain triage problem, thus freeing up valuable hospital resources and impacting patient’s lives,” TDK Ventures investment director Anil Achyuta said in the release. “Precision health is a highly strategic area for TDK and it is refreshing to see a magnetic sensing technology, where TDK has pioneering expertise, being applied to a sustainable goal of improving global wellness.”
Genetesis also announced that it appointed current Limelight Networks CEO Sajid Malhotra to its board of directors.
“The disruptive technology developed by Genetesis will be foundational at the front-line of cardiac care,” Malhotra said. “I am excited to be a part of this highly motivated team determined to improve patient outcomes based on revolutionary technology and pushing the limits of science and analytics.”