Caristo Diagnostics Raises £13 Million for Cardiac Innovation
On April 17, 2023, a significant announcement emerged from Oxford, United Kingdom, as Caristo Diagnostics Limited, widely recognized for its pioneering work in cardiac and vascular disease diagnostics, revealed that it has successfully raised an additional £13 million (approximately US$16.3 million) to finalize its Series A financing round. This fresh funding will be pivotal in propelling Caristo’s innovative CaRi-Heart® technology, which incorporates artificial intelligence to enhance diagnostics and risk prediction, into standard cardiac care practices across major global markets. The investment round was spearheaded by Oxford Science Enterprises and saw participation from several esteemed contributors, including BGF, Longwall Venture Partners, Oxford Investment Consultants LLP, and Oxford University. These financial backers underscore the broad clinical and commercial potential of Caristo’s cutting-edge innovations in the healthcare sector.
"Having five successful institutional investors join us in this financing round is thrilling as it affirms the significant clinical and business opportunities that Caristo's advancements can unlock," stated Oran Muduroglu, the Board Chairman of Caristo.
Furthermore, the company announced the appointment of Frank Cheng as the new CEO. Cheng brings a wealth of experience from his previous roles, most notably as President and Chief Commercial Officer at Eyenuk, Inc., a leading diagnostic company known for its autonomous AI technology that achieved FDA clearance and is now implemented in eighteen countries. Under Cheng’s leadership, and bolstered by a strong management team and a portfolio of innovative technologies, Caristo is well-positioned to make a transformative impact on the global healthcare landscape.
Cardiovascular diseases (CVDs), being the leading global cause of mortality, claim approximately 17.9 million lives each year. Caristo aims to address this alarming statistic by delivering its state-of-the-art diagnostic technology for coronary diseases, particularly through the capabilities of its CaRi-Heart technology. The AI-driven algorithms developed for CaRi-Heart enable trained health professionals to assess coronary inflammation using standard cardiac computed tomography angiography (CCTA) scans, which can provide crucial insights into cardiac mortality risks resulting from coronary inflammation. Additionally, by integrating this analysis with standard clinical risk factors and identifying the presence of coronary plaques, CaRi-Heart offers a comprehensive long-term risk assessment of cardiac mortality. As Frank Cheng noted, Caristo's journey since its inception in 2018 has been marked by significant milestones, including obtaining regulatory approvals and publishing research in prominent peer-reviewed journals, paving the way for its ambitious plans for expansion into the U.S. market.
They've invested in Caristo Diagnostics
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| Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|
 Oxford Science Enterprises | 30 investments investments | 1 contact contact | |||
 BGF | 45 investments investments | 2 contacts contacts | |||
 Longwall Venture Partners | 1 investment investment | more info | |||
 Oxford Investment Consultants LLP | 1 investment investment | more info | |||
 University of Oxford | 9 investments investments | more info |
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