Morrisville-based Myocardial Solutions IncMyocardial Solutions Inc. has nearly closed a $5 million equity round for its for the commercialization of its cardiac diagnostic software application that analyzes Magnetic Resonance Imaging results, according to a regulatory filing.
The company raised a $4 million Series A round in June 2015. In the current round, it sold $4,999,999 of a $5 million from 37 investors, according to the filing with the Securities and Exchange Commission.
The company says its proprietary SENC software improves the speed and ease of existing Cardiac MRI (“CMR”) testing. The software has the ability to reduce patient time within the magnet to less than 5 minutes versus 20-60 minutes historically.
It says it provides objective results from images without the need for contrast media, holding the breath or radiation.The very short scanner time requirement significantly reduces patient stress during the procedure. The company’s technology has been validated in more than 250 publications from 70 major research centers.
he technology was developed by Dr. Nael Osman, a radiology professor at Johns Hopkins Medical Center and a founder of Myocardial Solutions. The company was founded in January 2016.
Osman, in a statement, said, “The rapid quantitative analysis of changes in heart wall motion may open new opportunities to evaluate heart function in asymptomatic patients as a potential preventive measure for heart failure.”