A4L Raises C$10m Series A Financing And Appoints Don Crawford President And Chief Executive Officer
TORONTO, Jan. 6, 2016 /PRNewswire/ — A4L (Analytics 4 Life), a medical information technology company that uses advanced signal processing techniques for the purposes of detecting and assessing disease, today announced it has raised C$10 million in Series A financing by private accredited investors in an oversubscribed round. Additionally, the company announced the appointment of Don Crawford as President and Chief Executive Officer.
A4L has developed a novel technology that utilizes machine learning applied to data sets of patient physiologic signals and clinical outcomes information to detect and assess specific diseases. The goal is to provide rapid and accurate detection of disease states, thereby offering worldwide healthcare markets with cost-effective, efficient, and safe solutions. A4L has conducted initial in vivo laboratory research to analyze and manipulate two billion data points, which was supported by Southern Ontario Smart Computing Innovations Platform and the Ontario Centers of Excellence. Early results demonstrate that a machine learned algorithm is able to detect the presence of heart disease.
The C$10 million funding round will allow A4L to move forward with patient enrollment and clinical testing of its novel product in cardiac disease, the first application. “Additionally, we are building a world class management team to navigate and to meet the demands of the highly regulated healthcare industry,” says Don Crawford. “We have engaged Greg Davis of the Medcelerate Consulting Group based in Chapel Hill, North Carolina to manage operations and lead team recruiting.”
Mr. Crawford has an extensive history in the medical device field spanning more than 30 years, primarily focused on Cardiac Rhythm Management (CRM). His most recent executive management role as CEO and Founder of Sapheon, Inc. resulted in a successful exit to Covidien plc in 2014. Sapheon was subsequently acquired by Medtronic plc as part of its acquisition of Covidien, resulting in an exit value of up to $238 million paid to Sapheon investors and shareholders.
A4L’s headquarters and technology development are located in Toronto, Ontario where the majority of the software development occurs. A4L opened its U.S. subsidiary in the Research Triangle Park in North Carolina in early 2015, where company operations and hardware development are located. Mr. Crawford expects U.S. based clinical trials to start in the spring of 2016 to support FDA regulatory requirements.
About CorVista® System
CorVista is a non-invasive medical imaging system that is designed to acquire and process patient data and display results in a report accessible via a secure web portal. The system scans signals emitted by the body without radiation, exercise, or pharmacologic stress and wirelessly transmits the signal package to the cloud for processing and report generation. Physicians can interpret and use the results as part of an assessment of their patient. CorVista is an investigational device limited by federal law to investigational use. CorVista is not available for commercial distribution.
About Analytics 4 Life®
Analytics 4 Life is pioneering digital health using artificial intelligence to develop a completely new cardiac diagnostic modality. With an initial focus on coronary artery disease, heart failure, and pulmonary hypertension, Analytics 4 Life is advancing a novel, radiation-free, and exercise-free cardiac diagnostic platform aimed at improving existing care pathways. Analytics 4 Life is based in Toronto with U.S. headquarters in Washington, D.C.
Chris Bing Ernst
SOURCE: PR Newswire