Danish company ACARIX picks up 33 mio. DKK in capital from among others SEED Capital.
The capital will be used to complete the development of their solution and market it. The solution allows doctors to measure a patients risk of atherosclerosis (clotting of the arterie).
In a time where access to venture capital is limited, the Copenhagen medtech company ACARIX has managed to raises DKK 33 million in new capital from a strong international investment syndicate that counts SEED Capital, Sunstone Capital and Seventure from France. With DKK 33 million round of funding the company is one of the few Scandinavian medtech companies that have managed to raise capital in that amount from new investors in 2010. In addition the capital round excels with the fact that ACARIX has attracted foreign capital.
Groundbreaking technology can save patients' lives
In the western world heart attacks is the most common cause of death. In Denmark this disease causes about 20% of all deaths, and for a quarter of incidents this happens without any advance warning. ACARIX's product will be able to diagnose patients who are at risk. GPs currently has no equivalent diagnostic instruments in their practices, which can predict if there is a risk that a patient could suffer a heart attach.
The product consists of a patch coupled with an advanced microphone that listens to the passage of blood in the arteries sorrounding the heart. Narrowing (stenosis) of these will provide turbulence in the blood which may be an indication of a future stroke. The sensor calculates a score that tells cardiologists, doctors and hospital staff, whether the patient requires further investigation or treatment. The whole measurement is completed in just three minutes.
Large economic savings
The current lack of diagnostic tools means that doctors now refer patients with pain or discomfort, which could indicate an upcoming blood clot, to expensive examinations in hospitals. Here almost every other case results in the patient not requiring treatment. ACARIX's product will not only help ensure that patients are spared from being exposed to unnecessary risks from invasive and radiological examinations, but will also contribute to savings in health care by being able to target treatment more efficiently.
Carsten Schou, General Partner, SEED Capital, says: "I am very excited about its prospects and the benefits that patients, caregivers and society will gain". The product is expected to be ready for market launch in early 2013 and will be directed first against specialists, and then towards hospital staff and GPs.