QUARK VENTURE AND GF SECURITIES INVEST IN DIGITAL TECHNOLOGY PLATFORM THAT PROVIDES PHYSICIANS WITH NON-INVASIVE EVIDENCE SUPPORTING DECISIONS IN CORONARY INTERVENTIONS
Vancouver, British Columbia. – October 5, 2017 – Today, Quark Venture Inc. and GF Securities announced a US$5 million investment in CathWorks Ltd, a leader in developing non-invasive FFR (fractional flow reserve) measurements to guide coronary interventions. The investment, made through their Global Health Science Fund, is part of a $15.8M Series B round of financing led by Triventures. Headquartered in Kfar Saba, Israel, CathWorks lead product is a real time, digital platform that helps physicians make non-invasive evidence supporting decisions on coronary catheterization interventions using standard angiographic images.
CathWorks uses a proprietary series of algorithms to reconstruct the coronary tree in three dimensions from standard angiograms to provide the physician with a complete analysis of FFR in all visible coronary arteries simultaneously. Based on the image, physicians can then determine the best intervention for the patient.
“Using CathWorks digital platform, for the first time, physicians in the catheterization laboratory can see, in under five minutes, what course of action will benefit their patients without an invasive procedure. This disruptive technology has the potential to improve patient care and reduce costs,” said Karimah Es Sabar, Chief Executive Officer of Quark Venture and Director of GHS Fund.
Quark Venture and GF Securities join Triventures and other companies in this round of financing including: Planven Investments, Pontifax, Corundum Open Innovation, BioStar Ventures and another strategic partner.
“We are pleased to have Quark Venture and GF Securities (through the Global Health Science Fund), be part of this financing round. It validates the strength of our product and the global implications it will have on coronary healthcare. The funding will allow CathWorks to conduct a global pivotal trial to support 510K FDA approval,” said CathWorks, CEO and founder Guy Lavi.
About Global Health Science Fund
Global Health Science Fund was jointly established by Quark Venture Inc. and GF Securities in late 2016. Global Health Science Fund is a health sciences venture fund that invests globally in a diversified portfolio of innovative biotechnology and health sciences companies who are addressing unmet medical needs through innovations in drug development, medical devices, health IT and emerging convergent technologies.
CathWorks is a privately-held Israeli company founded in 2013. The company develops digital healthcare products for the cardiovascular market and is focused on improving the utilization of coronary angiography data to ratify measurement-based medicine in the cath lab. CathWorks is backed by worldwide VCs as well a strategic partner and has completed two series of financing.
For more information, contact:
Kaley Wilson – Quark Venture
Director, Business Development