Participated · Convertible Note · Mar 2025

Heartflow develops AI technology and the Heartflow One platform to transform coronary artery disease into a screenable, diagnosable and manageable condition. The platform provides non-invasive, precision coronary care across the guideline-directed CCTA pathway and includes Roadmap™ Analysis, FFRCT Analysis and Plaque Analysis. Heartflow One is supported by the ACC/AHA Chest Pain Guideline and backed by more than 600 peer‑reviewed publications. The company has helped clinicians manage over 400,000 patients worldwide. Under CEO John Farquhar, Heartflow is investing further in R&D to advance the CCTA+Heartflow pathway as the definitive standard for non-invasive CAD diagnosis and management. HeartFlow offers HeartFlow Analysis, a non-invasive personalized cardiac test that enables physicians to make care decisions for patients with suspected coronary artery disease. The company recently received FDA clearance for new products and now provides non-invasive coronary artery anatomy (RoadMap™ analysis), physiology (HeartFlow® FFRCT), and plaque information (Plaque analysis) based on CCTA. These products together aim to give physicians a more comprehensive understanding of a patient’s CAD and to better predict heart-attack risk. Led by CEO John Farquhar and based in Mountain View, CA, HeartFlow plans to use recently raised capital to extend demand for its commercial products, support clinical evidence, and advance its comprehensive product portfolio. The company emphasized expanding its commercial reach and continuing to build clinical validation for its offerings. HeartFlow commercializes the HeartFlow FFRct Analysis, a non-invasive technology that leverages deep learning to create personalized 3D models of patients' coronary arteries and simulate blood flow. The company will use proceeds from the financing to ramp up commercial expansion, continue technology innovation and fund additional clinical studies. Its analysis has been used by clinicians at more than 80 medical institutions and for more than 15,000 patients. In the United States several commercial payers issued positive coverage decisions and CMS assigned a New Technology APC payment; NICE issued a positive guidance recommendation in the U.K. HeartFlow says the technology reduces unnecessary invasive diagnostic coronary angiography and lowers healthcare costs for hospitals. The company is positioning the HeartFlow Analysis to become a global standard of care for diagnosing coronary artery disease. Heartflow builds noninvasive diagnostic software that reconfigures CT imaging into 3D models of coronary arteries to show blood flow and pinpoint lesions. Its flagship FFR-CT software recently received FDA clearance to market. The company says studies show its modeling method outperforms CT scanning alone. Heartflow has been venture-backed since 2009 and has raised more than $200 million to date, including a $100+ million round that closed last year. Per a regulatory filing, it has raised $35.8 million of a potential $46.3 million round; calls to the company about the new funding were unanswered and the filing did not state the purpose. The firm’s leadership and origins trace to Dr. Charles Taylor and Dr. Christopher Zarins from Stanford, and it has won recognition such as the 2011 EuroPCR Innovation Award. HeartFlow develops a noninvasive fractional flow reserve/computed tomography (FFRCT) test that uses high-performance computing and CT scan data to assess blood flow in coronary arteries. Results are transmitted through a secure web interface and presented as an interactive report to help physicians make diagnostic decisions. Initial clinical tests reportedly showed significant improvements in diagnostic accuracy over other noninvasive technologies, according to the company website. The company is recruiting participants for a multicenter clinical trial to further validate the technology. HeartFlow has secured nearly $75 million to advance its FFRCT program. It faces competition from other techniques that evaluate narrowed coronary arteries, including coronary angiography, intravascular ultrasound and CT coronarography; Boston Scientific recently had a new FFR/optical coherence tomography diagnostic tool cleared in Europe. The company was formed in 2007 by a group of Stanford University professors under the name Cardiovascular Stimulation Inc. and is based in Redwood City, California.

Participated · Series A · May 2015

Metabiota provides a risk analytics platform that delivers actionable, data-driven insights for countries, governments and corporations to manage and mitigate infectious diseases. Led by founder and CEO Dr. Nathan Wolfe, the company works with local governments, health agencies, private sector firms and non-profit organizations. It has operations in 20 countries and maintains offices in San Francisco, Washington, China, Canada and Sierra Leone. The company intends to use the funds to further develop and deliver epidemic risk management worldwide. Metabiota raised $30m in funding in this round. The round was led by RSTP with participation from multiple strategic and venture investors.