The financing was led by Lord Moynihan of Chelsea alongside The Future Fund, with support from existing investors
Funding will support ongoing BIOPATTERN trial and build BIOCARTA database to transform the treatment of CAD
Cambridge, UK, 30 April 2024: PlaqueTec, a company identifying endotype-specific biomarkers to advance precision medicine for coronary artery disease (CAD), today announced that it has secured $8 million USD equity financing, led by Lord Moynihan of Chelsea alongside the Future Fund, with support from existing investors. The funding will be used to support PlaqueTec’s ongoing BIOPATTERN trial, designed to improve understanding of CAD pathobiology and how it varies between individuals, and to build BIOCARTA® , its novel biomarker discovery tool.
BIOCARTA is a bioinformatics discovery platform that interrogates data and groups patients with CAD into endotypes with defined signatures of the disease. BIOCARTA correlates in vivo biomarkers localising at the disease site with plaque imaging, genomic analysis, blood biochemistry and clinical and demographic phenotypes to further enhance a unique understanding of disease. PlaqueTec is using BIOCARTA to identify biomarkers to accurately assess patients and therefore inform more targeted therapeutic interventions, transforming patient care.
At the heart of BIOCARTA is PlaqueTec’s BIOPATTERN trial, which uses the Company’s proprietary blood sampling device, the Liquid Biopsy System™, to collect samples containing biomolecules localising at or being released by coronary plaque. This equity financing will support the ongoing trial, enabling the collection of new data to expand BIOCARTA and generate novel site-of-disease insights that will accelerate a precision medicine approach to improve treatment outcomes for patients with CAD.
Martin Stapleton, Chairman, PlaqueTec, commented: “CAD is a leading cause of death worldwide and represents an area with significant unmet medical need. The continued support from our existing investors and additional funding from the Future Fund reinforces the potential of our technology and BIOCARTA database, and brings us closer to achieving our vision of opening a new frontier of precision medicine for millions of patients with CAD worldwide.”
