Heart Health Innovator Cleerly Closes Series C Funding Round with $223 Million
High-profile investors led by T. Rowe Price and Fidelity back a new standard of care for cardiovascular disease
This press release was updated on July 28, 2022 to reflect that Cleerly secured additional Series C funding, raising its round total from $192 million to $223 million.
Updated July 28, 2022: New York – July 25, 2022 — Cleerly, the company creating a new standard of care for heart disease, announced that it has closed a Series C financing round of $223 million. This new funding brings the total raised by the fast-growing health care company to $279 million, which includes its Series B round in 2021.
“At Cleerly, we are passionate about our mission to create a new standard of care for heart disease,” said James Min, MD, FACC, FESC, MSCCT, CEO and founder of Cleerly. “We are grateful for this round of financing that will further enable our work and believe it provides a resounding vote of confidence in our vision for the future of cardiovascular care. The status quo for heart health simply isn’t good enough – for patients, providers, or payors – and our proven approach to examining for early signs of heart disease through the build-up of arterial plaque promises to deliver the change we need right now.”
The oversubscribed funding round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., and Fidelity Management and Research Company. They are joined by additional investors spanning the health care, pharmaceutical and technology sectors, including Sands Capital, Piper Sandler’s Merchant Banking and Heartland Healthcare Capital funds, Mirae Asset Capital, Peter Thiel, Breyer Capital, Novartis and Pura Vida Investments. Cleerly’s existing investors also participated in the financing and include Vensana Capital, LRVHealth, New Leaf Ventures, Cigna Ventures and DigiTx Partners.
Cleerly’s AI-enabled approach to evaluating coronary computed tomography (CT) angiograms allows physicians to more easily identify, characterize and qualify atherosclerosis (plaque) buildup in the walls of the heart arteries. This information promotes a more accurate understanding of a patient’s risk of heart attack and represents a marked shift from the way that heart disease has been historically assessed using indirect surrogate markers of disease. These surrogates too often fail patients as predictors and miss the majority of patients who will suffer a heart attack. In fact, more than half of all patients who experience a heart attack show no symptoms before their potentially catastrophic event. When patients do present with symptoms of a cardiac event, Cleerly offers support to physicians that improves diagnostic certainty to personalize therapeutic choices that offer clinical benefit and reduce total costs of care.
This funding round will enable Cleerly to expand its team as well as extend its commercial reach to broaden patient and physician access to its comprehensive technology-enabled care pathway across the entire continuum of disease presentation—from early diagnosis of heart disease to ensuring that ongoing treatments are effective for those who have that elevated risk or symptoms. In addition, the company will invest in additional large-scale outcomes research to establish it as the standard of care supporting physicians through personalized evaluation and treatment of heart disease. Cleerly has more than a dozen ongoing multicenter clinical trials, including an international registry enrolling more than 100,000 patients over the next decade – making it the largest cardiovascular phenotype outcomes study ever performed.
Cleerly is the company creating a new standard of care for heart disease. Through its FDA-cleared, value-based diagnostic solutions driven by machine intelligence, Cleerly enables comprehensive phenotyping of coronary artery disease, as determined from advanced non-invasive CT imaging. Led by a world-class clinical and technical team, Cleerly enhances health literacy for each and every stakeholder in the coronary care pathway. For more information, please visit: https://www.cleerlyhealth.com.
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