PlaqueTec Closes $5 Million Financing

via Business Wire
  • Oversubscribed round backed by existing shareholders
  • Investment will support development of cardiovascular disease database to be used to inform patient stratification and therapeutic development programmes

PlaqueTec, a medtech company pioneering intracoronary liquid biopsy to identify inflammatory drivers of cardiovascular disease (CVD), today announced it has raised $5 million. The oversubscribed financing round was funded entirely by the Company’s existing investor base.

The investment will support the continued build-out of PlaqueTec's proprietary cardiovascular data lake, BioCarta, a growing repository of unique intracoronary proteomic and clinical data. BioCarta will provide a novel site-of-disease strategy to inform how inflammatory risk in CVD is stratified and targeted, providing more accurate assessments of disease than current approaches and better informing targeted therapeutic interventions with potential to transform outcomes for patients.

Martin Stapleton, Chairman, PlaqueTec commented: “The decision by our existing shareholders to reinvest, and to do so at a level that exceeded our target, speaks directly to their confidence in what PlaqueTec's data is revealing about cardiovascular disease. We are building something genuinely differentiated: a high-resolution, intracoronary data asset that is poised to underpin the next generation of cardiovascular therapeutics. This round validates that strategy and gives us the runway to prove it.”

The BioCarta database contains proteomic data obtained from patient samples collected in the BIOPATTERN trial using PlaqueTec’s intracoronary liquid biopsy approach. Using the coronary concentration gradient, the liquid biopsy device samples proteomic biomarkers directly at the site of plaque formation generating data that cannot be obtained through conventional systemic blood sampling.

The Company’s ongoing BIOPATTERN trial is generating proteomic data across a growing patient cohort, with several potential targets identified in sub-groups accounting for the majority of the studied coronary artery disease population. Its data lake strategy positions these findings as a platform asset for partnership and licensing with leading pharmaceutical companies engaged in cardiovascular drug development.

PlaqueTec is actively engaged in discussions with potential pharmaceutical and biotech partners seeking to leverage its unique intracoronary insights to inform target selection and patient stratification strategies.

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