Cleveland HeartLab Completes $18.4M Series B Financing Round

Cleveland HeartLab Inc. (CHL), a specialty clinical laboratory and disease management company, completed an $18.4m Series B financing round.

The investment was led by Excel Venture Management and HealthCare Ventures, with participation from existing investors.

The company intends to use the funds to expand its menu of tests with new proprietary biomarkers already in its pipeline and to evaluate and in-license new biomarkers. The funds will support CHL’s growth, further accelerating market adoption of its advanced approach to assessing cardiovascular disease risk using biomarkers of inflammation. This approach includes the CardioMPO™ test for circulating myeloperoxidase, the anchor of its proprietary inflammation panel, which is designed to enable physicians to determine if and to what degree their patients are at risk for cardiovascular disease.

Led by president and CEO Jake Orville, Cleveland HeartLab spun out of Cleveland Clinic in 2009.



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