Caesarea-based medical device company CardiacSense has completed a $3.5 million financing round, bringing the total amount that it has raised to $8.5 million. CardiacSense has developed a smart watch to detect heart arrhythmia.
CardiacSense's device has a level of accuracy similar to that of an ECG, the most common existing test. The company's technology, based on algorithms and special sensors, makes it possible to continuously monitor changes in the volume of blood vessels at all hours for months and years, even while a person is in motion.
CardiacSense successfully completed the first of two clinical trials required by the US Food and Drug Administration (FDA) and for CE certification. The company is preparing for its second and final trial, which will include over 100 patients in one hospital in the US and three hospitals in Israel. The trial is scheduled to begin in May and to be completed in the coming months. CardiacSense is in advanced negotiations to market the product through leading medical service providers.
Another application of the smart watch being developed by CardiacSense is continuous measurement of blood pressure in the wrist without an invasive sensor or expanding sleeve. The company conducted a clinical trial of this feature at Tel Aviv Sourasky Medical Center (Ichilov Hospital), and plans to begin procedures for obtaining FDA approval in September.
Appointment of two directors
At the same time, CardiacSense announced the appointment of two new directors in the company: Daniel Naor, a former senior executive at global company Pepsico and the McKinsey & Co. consultancy firm, and Mike Berman, formerly president of Boston Scientific's cardiology division, who will chair CardiacSense's board.
CardiacSense cofounder and CEO Eldad Shemesh said, "In the not-too-distant future, more and more invasive or uncomfortable medical tests will vanish, to be replaced by wearable medical devices that are convenient and easy to use, such as our smart watch. The future will rely on continuous, long-term, and accurate measurement of a large number of essential variables, with an extremely low number of false alarms."
Published by Globes, Israel business news - en.globes.co.il - on May 5, 2019
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