Recently, cardiovascular imaging startup Cleerly has been using artificial intelligence (AI) technology to detect potential heart disease risks early. The company utilizes AI to analyze cardiac CT scan images, identifying early signs of coronary artery disease, similar to X-rays and colonoscopies used in breast and colon cancer screenings.
James Min, the founder and cardiologist of Cleerly, stated, "Most people who die from heart disease never show any symptoms before the onset. We need to start widespread screening for potential heart disease patients." This concept originated from his clinical program established at NewYork-Presbyterian Hospital/Weill Cornell Medical College in 2003.
Currently, Cleerly is conducting a large-scale, multi-year clinical trial aimed at proving that its AI screening method can more accurately identify heart disease risks in asymptomatic populations compared to traditional blood pressure and cholesterol tests. If successful in regulatory approval, the company hopes to conduct large-scale screenings globally, significantly expanding its market share and generating substantial revenue.
Image Source: Cleerly
To further advance its technology, Cleerly recently announced the completion of a $106 million Series C funding round, led by Insight Partners with Battery Ventures participating. More than two years ago, the company raised $223 million. Although delayed funding typically indicates that a startup has not met expectations, Scott Barclay, Managing Director at Insight Partners, noted that Cleerly's rapid growth has provided sufficient capital to support future expansion and multi-site clinical trials.
James Min added that while additional funding may not be strictly necessary, Cleerly is pleased to partner with Insight Partners, one of the largest corporate software investors globally. The company is awaiting full FDA approval for its heart screening algorithm, but the algorithm has already been authorized for diagnosing symptomatic patients, and in October, Medicare approved coverage for its plaque analysis test. Plaque accumulation is a common cause of heart attacks.
Cleerly's AI analysis technology is less burdensome yet equally effective compared to traditional stress tests and coronary angiograms, a benefit recognized by health insurance companies and included in Medicare coverage. Since its inception, the company has achieved an annual compound growth rate exceeding 100%. Currently, Cleerly's technology is widely implemented in commercial applications and is expected to assist approximately 15 million heart disease patients.
Although Cleerly faces competition from rivals such as HeartFlow and Elucid, given the vast potential of the heart disease screening market, it is unlikely that there will be only one winner in this field. Cleerly's success could lead to revolutionary changes in heart disease screening worldwide.