Boston-based Elucid, a medical technology company using AI to transform cardiovascular imaging, has raised $80 million in a Series C funding round led by Elevage Medical Technologies. This brings Elucid's total funding to $121 million as it moves to expand commercialization of its innovative diagnostic software.
Elucid is tackling the leading cause of death globally - cardiovascular disease. Its technology platform, PlaqueIQ, leverages AI algorithms to analyze plaque buildup in artery walls based on CT scans. This provides more objective, accurate and comprehensive insights compared to traditional visual assessment methods.
Validated against thousands of pathological tissue samples, Elucid's software is the only FDA-cleared tool that can non-invasively characterize plaque composition and morphology. This enables physicians to better evaluate rupture risk and understand the underlying drivers of clotting events leading to heart attacks and strokes.
Beyond plaque analysis, Elucid is also pursuing regulatory clearance for a novel technique to measure coronary blockages and ischemia non-invasively using CT scans.
The pressing need for such advanced diagnostic capabilities cannot be overstated. Cardiovascular disease remains the leading cause of death and disability worldwide, with atherosclerosis, the buildup of plaque in the arteries, being a major contributor. By providing an objective and precise method to quantify and characterize plaque, Elucid's software aims to drastically improve the diagnosis and management of heart disease.
"This funding round validates the need for AI-enabled precision diagnostics in cardiology," said Elucid CEO Blake Richards. "Our partnerships will accelerate our goal of reducing cardiovascular mortality through data-driven insights."
The potential of AI in medical imaging has attracted growing investor interest. Elucid's latest funding highlights the momentum behind startups on the leading edge of marrying AI and radiology to unlock new levels of clinical insight. The company says it will leverage the new capital to expand commercialization and clinical research efforts for its suite of cardiac imaging analysis products.