HST spin-off company Acarix receives double-digit million investment

HST spin-off company Acarix receives double-digit SEK million investment from Chinese strategic investor Puhua Jingxin to accelerate market introduction

The medical device company Acarix has announced that the company has received a significant investment from the Chinese company Puhua Jingxin Guzhou Health Management Partnership (Puhua Jingxin). The strategic investment has been made to boost the market introduction of Acarix’s CE-marked CADScor®System – a medical device based on algorithms designed by associate professor Samuel Emil Schmidt for non-invasive, non-radiation acoustic detection of Coronary Artery Disease (CAD).

Acarix A/S builds on innovative research performed at Department of Health Science and Technology and initially emerged from a student project. Already while studying biomedical engineering, Samuel Emil Schmidt and his co-student Claus Graff started developing algorithms, which e.g. Acarix’s CADScor®System is based on.

Today, Samuel Emil Schmidt holds a position as associate professor at Department of Health Science and Technology. In collaboration with members of the department’s Medical Informatics research group, Samuel is still devoted to his research within the area of cardiotechnology and to designing algorithms - constantly focusing on developing medical devices easing the diagnostic pathway for health professionals and thereby essentially patients.

Samuel Emil Schmidt is involved in product development at Acarix and is, of course, very excited about the investment allowing for a more intensified and concerted effort towards launching the CADScor®System.

In a recent press release Søren Rysholt Christiansen, CEO of Acarix, expresses the company’s enthusiasm. With the Acarix CADScor®System, Acarix is ready to introduce a health solution which will not only be beneficial for patient and health professionals, but also in terms of health economics:

The CADScor®System combines acoustic detection of turbulent arterial flow and myocardial movement with advanced algorithms in a handheld device to provide a patient specific CAD-score in less than 10 minutes. According to Søren Rysholt Christiansen, CEO of Acarix, the CADScor®System meets a major unmet need: “Coronary Artery Disease affects more than 120 million people worldwide but the current diagnostic pathway, which can rapidly escalate to expensive imaging and invasive coronary angiography, is inefficient”. He continues: “a recent Danish study showed that more than 90% of patients presenting CAD like symptoms to their general practitioner do not have CAD”. With the Acarix CADScor®System Acarix can provide an easy to use non-invasive tool able to rule out CAD with 96% negative predictive value. Christiansen concludes: “this translates into a potential to reduce onward patient referrals by ~50%. – a win-win for patients, payers and physicians.” (source)

Click here to read Acarix's press release

Facts

  • Acarix is a commercial-stage medical device company specializing in non-invasive, non-radiation acoustic detection of Coronary Artery Disease (CAD)
  • A research and development collaboration was established in 2007 between Department of Health Science and Technology, Aalborg University, and Coloplast A/S, receiving public support from the Danish National Advanced Technology Foundation in 2008
  • Acarix A/S was established in 2009 as a spin-off company from Department of Health Science and Technology and Coloplast A/S
  • In 2010 Acarix A/S gained venture capital from Seed Capital (DK), Sunstone Capital (DK) and Seventure Partners (F)
  • In 2011 Acarix A/S and collaborators furthermore achieved funding of 5.3 million DKK from the Danish Business Innovation Fund