Israeli startup raises $4.2 million Seed round to detect heart attacks early
Israeli startup raises $4.2 million Seed round to detect heart attacks early
AccuLine's CORA system uses an advanced method for signal filtering coupled with deep learning algorithms to assess the condition of the patient's coronary arteries.
Israeli startup AccuLine has announced the completion of a $4.2 million Seed round led by eHealth Ventures and Maccabi Healthcare Services. This amount includes a grant from the Israel Innovation Authority and a grant from Google's AI Startups Fund. The company also raised capital from Mayo Clinic (the leading medical center in the U.S.), with which it has signed a know how agreement to develop CORA for the U.S. market. The funding round will support the continued development and commercialization of the CORA system, which allows for early detection of coronary artery disease (CAD).
AccuLine was founded in early 2022 by four founders: CEO Moshe Barel, Prof. Aharon Frimerman, head of the Interventional Cardiology unit at Hillel Yaffe Medical Center, Prof. Shai Revzen, a computer science professor at the University of Michigan, and Benny Shani, the company's CTO. The company employs seven people at its offices in Petah Tikva. To date, the company has raised a total of $5.5 million.
AccuLine's solution addresses a pressing unmet need. Although heart attacks are the leading cause of death worldwide, doctors currently have limited front-line diagnostic tools that are accurate, easy to perform, non-invasive, and affordable for the early detection of CAD. Popular stress ECG tests are not accurate enough, while invasive exams such as cardiac CT or coronary angiography require the injection of contrast media and expose patients to radiation. Additionally, these exams are very costly, have long waiting times, and can only be performed in hospitals. They are also not covered unless patients are symptomatic or at high risk.
AccuLine's CORA system enables a quick and easy test to be performed in a family doctor's office by any medical staff member. In just a few minutes, the system simultaneously analyzes three biological signals: the heart's electrical function, oxygen saturation, and breathing phase. Using an advanced method for signal filtering coupled with deep learning algorithms, CORA assesses the condition of the patient's coronary arteries to guide their treatment.
"Diagnosing patients at very early stages of risk for CAD without invasive testing will add value to patinets, healthcare systems, doctors, and insurance organizations," says Moshe Barel, co-founder and CEO of AccuLine, an experienced entrepreneur in the medical device field with 20 years of senior management experience at multinational companies such as Johnson & Johnson and Lumenis, as well as leading several startups in the field. "This test has the potential to save millions of lives a year and save hundreds of millions of dollars for healthcare systems on unnecessary tests or expensive treatments for patients after a heart attack, including rehabilitation and medication."
According to Barel, "The market potential is estimated at $7 billion a year in the U.S. alone, and our sales forecast is estimated at hundreds of millions of dollars after the product launch."
AccuLine recently completed a clinical study in seven medical centers in Israel - Ichilov, Poria, Assuta Tel Aviv, Shamir (Assaf Harofeh), Wolfson, Assuta Ashdod, and Hillel Yaffe. The study included 300 participants who underwent coronary angiography - the most accurate exam for diagnosing coronary artery disease - to validate the diagnostic capability of the CORA system. In a previous clinical study involving 100 participants, the system successfully diagnosed patients with significant coronary artery disease. Another study, the third in number, will be conducted next year in the U.S. for FDA approval.
