CoreMap Completes $23 Million Financing

CoreMap is $23 million wealthier these days, having closed a $3 million Series A Milestone financing concurrently with a $20 million Series B financing. The financing includes a diverse group of strategic, institutional, venture and individual partners.

“We are grateful for the overwhelming support from our existing and new investors,” CoreMap CEO and Co-Founder Sarah Kalil said. “This is a reflection of the science, our culture and the incredible team of talented professionals we’ve assembled to accomplish our mission and deliver a cure for atrial fibrillation.”

The money will be used to accelerate the company’s ongoing product development efforts and initiate clinical outcome studies. Allen Kamer, a founding partner of Qure Ventures and CoreMap director said, “The CoreMap team has delivered impressive pre-clinical and clinical data demonstrating the vastly superior potential to diagnose the drivers of AF and enable treatment tailored to the individual patient.”

CoreMap’s technology is aimed at identifying the drivers of complex arrhythmias which will in turn unlock patient specific treatment options for those suffering from AF or any complex arrhythmia. CoreMap’s patented electrode design and configuration, combined with algorithmically driven mapping and visualization technology will enable electrophysiologists to make more informed, patient specific therapeutic decisions to improve outcomes.
 
Founded in 2016, CoreMap’s mission is to develop a cure for atrial fibrillation (AF). Dr. Pierre Jaïs, of the LIRYC Institute and Bordeaux University Hospital said, “The CoreMap technology will revolutionize AF mapping. The ability of the InvenioTM catheter to record organized signals during AF is truly a quantum leap towards improving patient outcomes and holds the potential to positively impact the lives of millions of patients affected by AF.”
 
“Dr. Spector’s decades of research at the University of Vermont led to the founding of CoreMap and his work has the potential to have an enormous impact on public health,” said Russ Scully, of The Fund at Hula and a CoreMap investor. “Our mission is to elevate Vermont based companies because we believe Vermont is the ideal place to live, work, and play.” 
 
CoreMap is developing advanced diagnostic technology to enable curative treatment options and improve outcomes for patients with atrial fibrillation (AF), which is the most complex of cardiac arrhythmias. AF affects a patient population of 37.5 million globally and accounts for an estimated $26 billion annual U.S. healthcare costs. The CoreMap System comprising the Invenio catheter and VidereX workstation are aimed at identifying the drivers of a patient’s arrhythmia, which will in turn unlock unique, electrically guided treatment options for individuals suffering from AF or any complex arrhythmia. CoreMap has demonstrated in both pre-clinical and clinical studies the ability to record unambiguous electrograms during complex arrhythmias. 
 
Hula is a technology coworking campus, business accelerator, and home to The Fund at Hula in Burlington, Vt. Hula supports innovative ideas and disruptive technologies through seed and early-stage funding, mentorship, and connectivity.