MASON, Ohio, May 7, 2020 /PRNewswire/ -- Genetesis Inc, a
medical technology company that has developed non-invasive,
biomagnetic CardioFlux™ imaging, today announced several important
updates. The company has closed significant strategic investments
from TDK Ventures and an undisclosed Fortune 500 global, healthcare
company, completing a $9.2M Series B
financing. The round included participation by return
investors CincyTech, Ohio Innovation Fund, and Mark Cuban.
Genetesis developed the CardioFlux Magnetocardiograph (MCG) to
revolutionize the triage of chest pain, which causes eight million
visits to hospital emergency departments annually. CardioFlux
enables physicians to measure and record the magnetic fields of the
heart in just a few minutes, with the potential of significantly
lowering length of stay in the ER. It is done without the use of
ionizing radiation, exercise or the need for specialized room
modifications.
"Magnetocardiography has been around for over four decades. But
we felt that Genetesis has made the right technical plus business
model innovations to solve the chest pain triage problem, thus
freeing up valuable hospital resources and impacting patient's
lives. Precision health is a highly strategic area for TDK and it
is refreshing to see a magnetic sensing technology, where TDK has
pioneering expertise, being applied to a sustainable goal of
improving global wellness," says Anil Achyuta, Investment Director
at TDK Ventures.
Genetesis has also added Sajid
Malhotra to its Board of Directors. Malhotra brings
extensive experience in senior executive positions in publicly
traded companies. He has served as Chief Financial Officer (CFO) of
Limelight Networks (NASDAQ: LLNW) since April 2016, where he also leads the corporate
development and investor relations, facilities, and procurement
functions in the company.
"The disruptive technology developed by Genetesis will be
foundational at the front-line of cardiac care. I am excited
to be a part of this highly motivated team determined to improve
patient outcomes based on revolutionary technology and pushing the
limits of science and analytics," said Sajid. "When implemented,
patients can expect diagnosis to be safer, sooner, and superior at
a lower cost. Hospitals can expect improved efficacy and lower
congestion and cost. Companies like Genetesis are a rare find and I
am honored to be joining the Board."
About Genetesis
Genetesis Inc. is a medical technology company focused on
redefining the way myocardial ischemia and coronary artery disease
are detected. By combining CardioFlux, our noninvasive biomagnetic
imaging technology, with proprietary cloud-based web services and
machine-learning capabilities, we seek to become the standard of
care for diagnosis of clinically significant myocardial ischemia in
the acute care setting. Genetesis was founded in 2013 and is based
in Mason, Ohio.
Genetesis Contact
John Hart
Senior Vice President Global Commercial Operations and
Development
John@genetesis.com
Ohio Innovation Fund Contact
Christina Abdelshahid
Investment Analyst
cabdelshahid@ohioinnovationfund.com
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SOURCE Genetesis Inc.