Celdara Medical, LLC today announced that DRIVEN Accelerator Hub Participant Company, CoreMap, has closed a Series A investment of $10.5 M led by Qure Ventures. The round included existing investors such as Ronny Ginor, MD of Fifth Focus/HRMG Investments and Orbimed Venture Partners, and a diverse group of new strategic, corporate, and financial partners. Of the eight companies that have participated in the NIH-funded DRIVEN Accelerator Hub since its establishment in late 2018, this represents the fourth investment round raised. These investments are in addition to numerous NIH grants awarded and commercial sublicenses executed.
Jake Reder, PhD, Celdara’s CEO and Principal Investigator of the DRIVEN Accelerator Hub stated, “We are extremely excited by CoreMap’s ongoing success. Their technology has enormous potential to provide significant benefits for patients with Atrial Fibrillation – a patient population currently underserved by today’s technologies. The CoreMap technology aims to enable curative treatment – an option currently unavailable to 99% of U.S. patients. This is a truly transformational technology.”
CoreMap is a privately funded company founded in 2016 and based in Vermont. They have developed a new technology to improve diagnosis for the 33 million patients with Atrial Fibrillation (AF). At the heart of CoreMap’s technology is a patented electrode pair design in a high-density array configuration combined with algorithm driven mapping and visualization software that will enable electrophysiologists to make more informed therapeutic decisions and improve patient outcomes. The CoreMap technology was invented by Peter Spector, MD a practicing clinical electrophysiologist and now Chair of the Scientific and Clinical Advisory Board. Cofounded by CEO & President Sarah Kalil and advised by a team of leading clinicians and developers, CoreMap is enabled to deliver a superior solution for AF patients. Learn more about the science and the company here.
“The DRIVEN Accelerator Hub was a great experience for CoreMap. This type of networking and fundraising support is invaluable for an early stage innovation company like ours,” said Sarah Kalil, CoreMap’s Co–Founder and CEO.
CoreMap joins the growing list of DRIVEN alums accelerating their companies toward clinical and commercial success.
CoreMap exists to improve patient outcomes by delivering advanced diagnostic technology to electrophysiologists and patients. Our technologies will allow for patient-specific treatments, because when treating patients with permanent and persistent atrial fibrillation ‘one size does not fit all’. www.coremapmedical.com
About the DRIVEN Accelerator Hub
The DRIVEN Accelerator Hub is an NIH-funded consortium led by Celdara Medical and Simbex and includes partnerships with the leading research institutions in the Northeast IDeA region (Brown, Dartmouth, Maine Medical Center, MDI Biological Laboratory, University of Delaware, University of New Hampshire, University of Rhode Island, and the University of Vermont). The mission of the DRIVEN Accelerator Hub is to create quality-adjusted life years (QALYs) and save lives by 1) Increasing the number of quality medical startups 2) Decreasing their time to market and 3) Increasing their probability of success. DRIVEN provides tailored consulting to select entrepreneurs through the DRIVEN Partnership Program. The Program culminates in a presentation to the DRIVEN External Advisory Committee, comprised of leading investors and in-licensing business development professionals, and the potential for seed funding. For more information regarding the partnership program, email firstname.lastname@example.org. DRIVEN has also developed an online resource database that serves biomedical entrepreneurs by providing curated educational resources: bioentrepreneurresources.com
DRIVEN is generously supported by NIGMS grant UT2 GM130176.
About Celdara Medical, LLC
Celdara Medical gives hope and health to patients by transforming academic innovations into medicines with the potential to cure the world’s most challenging diseases. Celdara Medical is a recognized leader with a rich stable of discoveries, developed in concert with premiere research institutions in the US, EU, and beyond. We secure lasting partnerships with inventors and their institutions and provide the developmental, financial, and business acumen to bridge the gaps between discovery and clinical impact. With robust funding options, operations in New Hampshire, Cambridge, MA, and New York City, growing affiliates in Seattle and Indianapolis, a wealth of opportunities in our pipeline, and partnerships with industry leaders worldwide, Celdara Medical navigates the path from science to medicine, accelerating innovation to improve human health.