Element Science, a health technology company with a digital wearable platform focused on high-risk cardiovascular consumers transitioning from the hospital-to-home, announced that it had raised $145.6 million in Series C financing. The funding round, led by Deerfield Healthcare and Qiming Venture Partners USA, includes Cormorant Asset Management and Invus Opportunities, as well as participation from existing investors Third Rock Ventures and Google Ventures. The new funds will enable completion of clinical studies through commercial launch of the company’s initial product, the Jewel Patch Wearable Cardioverter Defibrillator (P-WCD), an unobtrusive, low-profile personal defibrillator designed to detect and treat life-threatening arrhythmias in consumers with an elevated temporary risk of sudden cardiac death (SCD).
The Jewel P-WCD is the first product to be built on Element’s novel Jewel platform, which unites consumer-centric human factor engineering and sophisticated machine learning algorithm development principles upon a foundation of rigorous electromechanical medical device development standards. The new funds will also be used to develop a family of digital wearables based on the modular Jewel platform, including solutions that address related unmet needs such as the treatment of SCD in inpatient settings as well as the diagnosis of heart failure exacerbation in recently discharged consumers.
Element Science, Inc. is a medical device and digital health company focused on developing solutions at the intersection of clinical-grade wearables, machine learning algorithms, and lifesaving therapies in order to address leading causes of death and hospitalization in consumers with heart disease, primarily as they transition from the hospital-to-home. Based in San Francisco, Element Science, Inc.’s funders include Third Rock Ventures, Google Ventures, Deerfield Healthcare, Qiming Venture Partners USA, Cormorant Asset Management, and Invus Opportunities.
This was reported by BusinessWire on March 3, 2020.
Contact information: Element Science, Inc., 200 Kansas Street, Suite 210, San Francisco, California 94103; Website; www.elementscience.com