Heart disease is the leading cause of death in the United States, and many people are unaware of their underlying heart issues until they experience a heart attack. To change this situation, the cardiovascular imaging startup Cleerly is working towards early screening for coronary artery disease by analyzing CT scans of the heart. This approach is similar to screening methods for breast and colon cancer, such as mammograms and colonoscopies.
James Min, the founder and cardiologist at Cleerly, stated, “Most people who die from heart disease and heart attacks never show any symptoms.” He emphasized the urgent need for heart disease screening worldwide. Cleerly's technology is rooted in a clinical program he established in 2003 at NewYork-Presbyterian Hospital/Weill Cornell Medical College. The company is currently conducting a large multicenter clinical trial aimed at demonstrating the accuracy of its screening method in asymptomatic patients, surpassing traditional blood pressure and cholesterol tests.
Cleerly's efforts have attracted the attention of investors. Recently, the company announced the completion of a $106 million Series C extension financing round, led by Insight Partners with participation from Battery Ventures. This funding round follows the $223 million Series C financing completed by Cleerly two years ago, indicating market recognition of its growth potential.
Although extension financing is typically seen as a sign of poor business growth, Scott Barclay, managing director at Insight Partners, noted that Cleerly is experiencing rapid growth. This round of funding will assist Cleerly in financing future expansion and multicenter clinical trials.
According to Min, while the company does not urgently need additional funds, attracting large enterprise software investors like Insight Partners has excited Cleerly. Currently, the company’s algorithms have received FDA approval for diagnosing symptomatic patients, and in October, Medicare approved coverage for its plaque analysis test. Plaque buildup is a common cause of heart attacks.
Compared to traditional chest pain diagnostic methods such as stress tests or coronary angiography, Cleerly claims that its AI-driven CT scan analysis places less physical burden on patients. With health insurance companies and Medicare recognizing its tests, Cleerly is experiencing rapid growth. Over the past four years, Cleerly has achieved a compound annual growth rate of over 100%, and its technology has been recognized for diagnosing approximately 15 million heart problem patients each year.
Although Cleerly is not the only player in the market, with other companies like HeartFlow and Elucid also developing AI-driven cardiac plaque imaging analysis, there remains potential for diversified development in this market as the demand for screening specific age groups continues to rise.
Key Points:
🌟 Cleerly aims to screen for heart disease early through AI analysis of CT scans.
💰 Recently raised $106 million in funding, attracting attention from multiple investors.
🩺 Its technology has received recognition from the FDA and Medicare, promoting the widespread adoption of heart disease screening.