GenetesisA $17.5m Series B Financing round was closed by, a Mason-OH-based biomagnetic imaging firm,
Mithril Capital was the lead investor. Cercano Management participated as well as existing investors like JobsOhio Growth Capital and Ohio Innovation Fund.
The company plans to use the funds for FDA De Novo approval and to launch a new series clinical trials. It also intends to commercialize and launch its biomagnetic system globally in a variety of settings.
Genetesis’ CEO and co-founder, Peeyush Shrivastava led the development of the CardioFlux platform. This platform uses magnetocardiography to provide patients with a quick scan that does not require any radiation, contrast or exercise. FDA approved CardioFlux in 2019. It was also awarded FDA Breakthrough Device Designation (December 2020). Over the past several years, CardioFlux has been clinically investigated in hundreds of patients with suspected acute and chronic coronary syndromes – as well as in patients with confirmed coronary microvascular dysfunction.
Genetesis has received this financing as it enters the final month for primary enrollment in the ACCMED study. It includes participation from Beaumont Royal Oak Hospital and Ascension St. John.
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