Mason startup raises $1.2M in seed money

Cincinnati Enquirer | Anne Saker

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A three-year-old Mason startup that has built a tool to help doctors see the electrical circuitry in the beating of a heart has raised $1.2 million in its first round of financing, led by CincyTech and billionaire investor Mark Cuban.

The company, Genetesis, has created technology it calls CardioFlux, which the company says gives doctors a noninvasive tool to see how the heart operates. The device has 3D mapping to plot the heart’s electrical activity, and the results could be used to diagnose, characterize and guide treatment for myocardial ischemia, atrial fibrillation, ventricular tachycardia and other heart issues.

Along with CincyTech and Cuban’s Radical Investments, the first or “seed” round of financing for Genetesis also drew investment and technical assistance from Loud Capital of Columbus, Danmar Capital of Beverly Hills, California; Wilson Sonsini Investment Co. of Palo Alto, California, the company’s managers and private angels.

Peeyush Shrivastava, Genetesis co-founder and chief executive officer, will present findings Tuesday on the device at the American Heart Association’s scientific sessions in New Orleans. The data, he said in a news release, were collected in collaboration with the Mayo Clinic. “These results demonstrate promising improvements for the noninvasive detection of ischemia in patients with high-risk chest pain, as compared to tools available in the emergency room today.”

The widely used electrocardiogram provides a snapshot of heart rate and rhythm but cannot detect problems that may exist when a patient is not experiencing symptoms.

In the company’s statement Monday, Cuban said, “The Genetesis technology opens broad new commercial markets for what has, for decades, been primarily a research tool. For millions dealing with the risks and anxiety of arrhythmias, atrial fibrillation and other cardiac diseases, this is a game changer.”

John Rice, CincyTech’s director of life sciences, said in the company statement, “CincyTech was attracted to this opportunity by the entrepreneurial verve of the team and their ability to very rapidly generate meaningful clinical data to validate the technology and the market.” The technology could be expanded to other diagnostic devices such as magnetic brain imaging, he said.

Genetesis was founded in Mason in 2013 and now employs 10 people. The $1.2 million will help the company scale its engineering, launch additional clinical studies and seek regulatory clearance from the U.S. Food and Drug Administration.

 

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