CorVista Health Completes $65 Million Series C Equity Raise Bringing Total Funding to Nearly $100 Million
TORONTO--(BUSINESS WIRE)--CorVista Health, Inc., a digital health company dedicated to improving cardiovascular disease diagnosis, today announced it has closed a $65 million Series C equity financing. This latest financing round brings the total cash raised to nearly $100 million. This significant capital infusion provides a runway for ongoing research, development and commercialization efforts for CorVista® System, the company’s non-invasive, point-of-care solution that allows physicians to rapidly test for heart disease.
“There has never been a more critical need for point-of-care diagnostic modalities that provide rapid testing for cardiac patients,” said Don Crawford, Chief Executive Officer. “We believe the CorVista System has the potential to transform healthcare and improve the patient experience. This latest round of funding has put us in a position to offer assistance with the current healthcare crisis by providing physicians a non-invasive solution for the diagnosis of heart disease.”
Ambix Life Science Fund I, L.P. led the financing, joined by MedVenture Partners, Inc. as well as several new and previous investors. With the investment proceeds, CorVista Health will accelerate product development for the CorVista System and scale its infrastructure ahead of commercialization. Additionally, ongoing clinical research is being accelerated for the CorVista System to assess for coronary artery disease as well as elevated left ventricular end diastolic pressure and elevated mean pulmonary artery pressure, hallmarks of heart failure and pulmonary hypertension, respectively.
“We believe the CorVista System has the potential to reduce the burden on both patients and the healthcare system,” said Peter Townshend, Managing Member of Ambix Venture Management, LLC. “CorVista Health has the potential to advance the way heart disease is diagnosed and managed. We’re fortunate to be able to support their mission to bring these solutions to the cardiovascular community.”