CardiaTec, the winner of this year’s Bright SCIdea Challenge, has secured a £1.4m pre-seed investment to further develop its AI-driven cardiovascular disease treatment.
The Cambridge University spinout wowed judges at the Bright SCIdea Challenge final in March, describing its innovative AI platform to develop drugs to treat cardiovascular problems.
CardiaTec’s platform is designed to analyse huge datasets across fields such as genomics, microbiomics and epigenomics, to improve understanding of how heart disease develops.
The team noted upon winning this year’s Bright SCIdea Challenge that the £5,000 prize would help the business enter its next phase of completing the fundraising round and further develop the technology – and that has certainly come to fruition.
CardiaTec receiving their prize at BrightSCIdea Challenge 2022
Cambridge’s o2h Ventures is co-investing in CardiaTec with Apex Ventures, Laidlaw Ventures, Crista Galli Ventures, and Cambridge University.
Sharon Todd, CEO of SCI, said:
'It’s great to see CardiaTec achieve their first serious funding, just four months after winning the Bright SCIdea Challenge. The SCIdea Challenge supports new entrepreneurs by giving them training in the core skills they need to start up a scientific business. The programme also helps to build their confidence and credibility.
'CardiaTec exemplifies SCI's mission to help accelerate science out of the lab into business for the benefit of society, and we are delighted to continue to support CardiaTec as they move forward on this exciting journey.'
Raphael Peralta, CEO of CardiaTec, said:
‘It has been a pleasure to become a part of the SCI, which has given us access to an incredible network of events and talented individuals, of which several have already contributed to CardiaTec’s progress. We are looking forward to building on this relationship with the Society, and want to thank SCI for its support through the Bright SCIdea, and all those that have contributed to CardiaTec’s success.’