BURLINGTON, Vt.--(BUSINESS WIRE)--CoreMap announced today it has closed a $3 million Series A Milestone financing concurrently with a $20 million Series B financing. The financing includes a diverse group of strategic, institutional, venture and individual partners.
Founded in 2016, CoreMap’s mission is to develop a cure for atrial fibrillation (AF). Dr. Pierre Jaïs, of the LIRYC Institute and Bordeaux University Hospital said, “The CoreMap technology will revolutionize AF mapping. The ability of the InvenioTM catheter to record organized signals during AF is truly a quantum leap towards improving patient outcomes and holds the potential to positively impact the lives of millions of patients affected by AF.”
The financing will be used to accelerate the Company’s ongoing product development efforts and initiate clinical outcome studies. Allen Kamer, a founding partner of Qure Ventures and CoreMap Director said, “The CoreMap team has delivered impressive pre-clinical and clinical data demonstrating the vastly superior potential to diagnose the drivers of AF and enable treatment tailored to the individual patient.”
CoreMap’s technology is aimed at identifying the drivers of complex arrhythmias which will in turn unlock patient specific treatment options for those suffering from AF or any complex arrhythmia. CoreMap’s patented electrode design and configuration, combined with algorithmically driven mapping and visualization technology will enable electrophysiologists to make more informed, patient specific therapeutic decisions to improve outcomes.
“Dr. Spector’s decades of research at the University of Vermont led to the founding of CoreMap and his work has the potential to have an enormous impact on public health,” said Russ Scully, of The Fund at Hula and a CoreMap investor. “Our mission is to elevate Vermont based companies because we believe Vermont is the ideal place to live, work, and play.”
“We are grateful for the overwhelming support from our existing and new investors,” said CoreMap CEO and Co-Founder, Sarah Kalil. “This is a reflection of the science, our culture and the incredible team of talented professionals we’ve assembled to accomplish our mission and deliver a cure for atrial fibrillation.”
About CoreMap
CoreMap is developing the advanced diagnostic technology to enable curative treatment options and improve outcomes for patients with atrial fibrillation (AF), which is the most complex of cardiac arrhythmias. AF affects a patient population of 37.5m globally and accounts for an estimated $26b annual US healthcare cost. The CoreMap System comprising the InvenioTM catheter and VidereXTM workstation are aimed at identifying the drivers of a patient’s arrhythmia, which will in turn unlock unique, electrically guided treatment options for individuals suffering from AF or any complex arrhythmia. CoreMap has demonstrated in both pre-clinical and clinical studies the ability to record unambiguous electrograms during complex arrhythmias. For more information, visit www.coremapmedical.com
About Hula
Hula, is a technology coworking campus, business accelerator, and home to The Fund at Hula in Burlington, VT. Hula supports innovative ideas and disruptive technologies through seed and early-stage funding, mentorship, and connectivity. The Hula campus spans the shores of Lake Champlain, offering the most idyllic setting to recruit the top talent, maximize productivity, and foster a healthy and active company culture with plenty of space to work and play. For more information, visit www.hulalakeside.com
