Cordex Systems, a Annapolis, MD-based developer of technology to detect heart disease early, closed a $5m+ Series A funding.
Backers included Plum Alley Investments, which invested $1.19m, professional and strategic investors, family offices, former and current executives from major fortune 500 companies including Pfizer, PwC, Morgan Stanley, Schwab and NBC Universal, Venetto Ltd., which joined National Institutes of Health, Maryland Technology Development Company (TEDCO), and Maryland Industrial Partnerships (MIPs).
The company will use the funds to contineu to develop the technology and expand operations.
Led by Dr. Kathy Magliato, Founder, CEO and Chief Medical Officer, Cordex Systems is an early stage company that has created proprietary and patented SmartCuff TM, which is designed to detect the early presence of cardiovascular disease.
The technology, which is non-invasive, non-imaging and non-operator dependent, is a point-of-care test that takes less than 10 minutes to perform. It aims to detect the earliest signs of heart disease with the hopes of preventing further cardiovascular deterioration and improving the quality of life.