CARY — CorVista Health, Inc., which is jointly based in Cary and Toronto, Ontario, has closed a $65 million Series C round and plans to deploy the funds to fuel the development and commercialization of its non-invasive diagnostic system to assess for heart disease, bringing the total amount raised to nearly $100 million, said the company in a statement last month.
The company, which until December, was known as Analytics 4 Life, reported the sale of nearly 9 million shares of Series A Preferred Stock in an amended SEC Filing signed yesterday by CEO Don Crawford. The filing reports the sale of stock for A4L (US), Inc., the U.S. company affiliated with CorVista Health, Inc. with a total amount of $24,787,020 from 20 investors. The first sale is designated as occurring in November 2020, and a sales commission of $493,740 was paid.
All proceeds from the sale are to be used as working capital for the company, according to the filing.
“There has never been a more critical need for point-of-care diagnostic modalities that provide rapid testing for cardiac patients,” said Crawford in a statement published by the company. “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.”
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Ambix Life Science Fund I, L.P. led the financing, and was joined by MedVenture Partners, Inc., along with other new and prior investors.
The company also noted that ongoing clinical research is being accelerated for its CorVista System to assess for coronary artery disease, elevated left ventricular end diastolic pressure, and elevated mean pulmonary artery pressure, hallmarks of heart failure and pulmonary hypertension, respectively.
