Cleerly has concluded a $106m Series C funding round to advance its AI-driven coronary artery disease (CAD) platform.
The US-based digital healthcare company’s non-invasive AI-Quantitative Coronary CT (AI-QCT) technology analyses coronary computed tomography angiography (CCTA) images to measure atherosclerosis – plaque build-up in the heart’s arteries – to aid clinicians in developing personalised treatment plans for patients.
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Opposed to assessing indirect CAD markers such as risk factors or disease symptoms, Cleerly likens its phenotypic approach to being similar to the staged way in which cancer is dealt with.
The funding round was led by software investor Insight Partners and was also joined by Battery Ventures, along with pre-existing investors.
Cleerly stated that it plans to use the funding to continue scaling its commercial growth and clinical evidence generation, with the long-term aim of creating a new standard of care (SoC) for heart disease.
Cleerly founder and CEO Dr James K Min commented: “This funding will allow us to expand our commercial reach, which is especially germane following our recent achievements in attaining Medicare coverage and a CPT Category I code for advanced plaque analysis.
“We are very excited to see our purpose-driven mission come to life, making advanced cardiac care accessible to more patients and working towards our goal of eliminating heart attacks.”
According to GlobalData’s Market Size & Growth database, the global diagnostic imaging space was valued at around $36.3bn in 2023 and is forecast to reach a valuation of around $54.8bn by 2033.
Insight Partners’ managing director Scott Barclay added: “Cleerly’s pioneering approach to advanced cardiovascular imaging, powered by AI-driven analysis, is elevating the field of diagnostic tools for coronary artery disease.
“With this investment, we look forward to helping Cleerly expand its reach and impact, bringing this potentially life-saving innovation to more patients and health systems nationally.”
Cleery recently exhibited its technology at the 2024 Radiological Society of North America (RSNA) meeting in Chicago, US, which took place from 1 to 5 December. Other participants at this year’s meeting included Philips, which showcased its next-generation BlueSeal 1.5T magnetic resonance imaging system; and US-based radiology practice Radiology Partners (RP), which recently announced a partnership with RADPAIR to further the development of generative AI in radiology.
