Cambridge-based medical technology firm, PlaqueTec, has announced a significant stride forward in its mission to revolutionize coronary artery disease (CAD) treatment. The company has successfully closed an $8 million equity financing round led by Lord Moynihan of Chelsea and supported by the Future Fund, along with existing investors.
This latest injection of capital is earmarked to bolster PlaqueTec’s ongoing BIOPATTERN trial, an initiative aimed at deepening the understanding of CAD pathobiology and its individual variances among patients. Additionally, the funds will fuel the development of BIOCARTA, the company’s innovative biomarker discovery tool.
At the core of PlaqueTec’s innovation lies BIOCARTA, a bioinformatics discovery platform designed to segment CAD patients into distinct endotypes, each characterized by specific disease signatures. By correlating in vivo biomarkers with various clinical parameters, genomic data, and imaging, BIOCARTA aims to provide clinicians with a nuanced understanding of disease progression and response to treatment.
Martin Stapleton, Chairman of PlaqueTec, emphasized the importance of this funding in advancing their mission. He stated, CAD is a leading cause of death worldwide and represents an area with significant unmet medical need. The continued support from our existing investors and additional funding from the Future Fund reinforces the potential of our technology and BIOCARTA database, and brings us closer to achieving our vision of opening a new frontier of precision medicine for millions of patients with CAD worldwide.”
PlaqueTec’s BIOPATTERN trial utilizes a proprietary blood sampling device, the Liquid Biopsy System, to collect biomolecules indicative of coronary plaque activity. This trial, backed by the recent funding, will expand the BIOCARTA database and furnish novel insights into the site-of-disease pathology, ultimately driving the adoption of precision medicine in CAD treatment.
This milestone represents a significant step forward in PlaqueTec’s commitment to personalized healthcare solutions for CAD patients worldwide.