CoreMap has announced the completion of a US$10.5 million Series A financing round led by Qure Ventures. The round included existing investors such as Ronny Ginor of Fifth Focus/HRMG Investments and Orbimed Venture Partners, and new strategic, corporate and financial partners.
CoreMap was founded in 2016 by Peter Spector based on his work concerning the drivers of atrial fibrillation (AF). Ginor, an advisor and investor in the company, said: “CoreMap’s inventions have broad potential for biological sensing which in turn may unlock patient specific treatment for the millions of people suffering with persistent AF issues.”
The funds will be used to accelerate the company’s ongoing product development and their planned regulatory submission of the company’s first products. These products will be targeted at improving diagnostic capabilities for complex cardiac arrhythmias. Allen Kamer, a founding partner of Qure Ventures, and Ginor will join the Board of Directors. Additionally, Spector will become the chair of the company’s Scientific and Clinical Advisory Board.
CoreMap is developing a diagnostic technology capable of identifying the drivers of complex arrhythmias, which promises to enable new treatment options for the 33 million patients suffering from AF. At the heart of CoreMap’s technology is a patented electrode pair design in a high-density array configuration combined with algorithm driven mapping and visualisation software that will enable electrophysiologists to make more informed therapeutic decisions and improve patient outcomes.
“CoreMap has developed a promising new technology which has vast potential to improve treatment for millions of patients with atrial fibrillation,” said Allen Kamer, managing partner of Qure. “CoreMap has a unique solution to a growing problem for millions of patients with limited treatment options. Qure is excited to join this talented and driven team on their mission to improve patient outcomes.”
“We are building a group of smart, hardworking, innovative, people committed to delivering a cure for AF,” said CoreMap CEO and co-founder, Sarah Kalil. “Having the financial support and domain expertise of the health tech pioneers that are resident in our investor group will allow us to better execute on our vision and change lives.”