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MassMEDIC Congratulates MedTech IGNITE’s Coremap on $10.5M Series A Funding

MassMEDIC Congratulates MedTech IGNITE’s Coremap on $10.5M Series A Funding

BOSTON—September 17, 2020—The Massachusetts Medical Device Industry Council (MassMEDIC) announced today that Coremap, a 2019 member of the MedTech IGNITE Growth Challenge Cohort has secured $10.5M in a Series A round, led by Qure Ventures. The round included both existing investors such as Ronny Ginor, MD of Fifth Focus/HRMG Investments and Orbimed Venture Partners, and a diverse group of new strategic, corporate and financial partners. Coremap was recently awarded a National Science Foundation Phase I SBIR Grant to support development of its technology aimed at expanding treatment opportunities for patients with Atrial Fibrillation (AF). 

CoreMap is developing a diagnostic technology capable of identifying the drivers of complex arrhythmias, which promises to enable new treatment options for the 33 million patients suffering from AF. At the heart of CoreMap’s technology is a patented electrode pair design in a high-density array configuration combined with algorithm driven mapping and visualization software that will enable electrophysiologists to make more informed therapeutic decisions and improve patient outcomes. 

Coremap is among a select group of medtech start-ups in MassMEDIC’s IGNITE virtual accelerator program. Relaunched in 2019, IGNITE offers medtech founders an experiential training, mentorship, and networking curriculum, to attract and nurture the next generation of Boston-area medtech founders and entrepreneurs. 

“MassMEDIC IGNITE helped us in many ways and we are grateful to have participated in the first year of the program’s relaunch. Thanks to IGNITE, we honed our pitch, received great counsel on financial, legal and regulatory issues—and perhaps most importantly, IGNITE provided Coremap national exposure and introductions to a well-connected support network,” said Sarah Kalil, CEO and co-founder of Coremap and Board member, RBI Medical, an IGNITE 2020 Cohort member company. 

“We congratulate Sarah Kalil and her team at Coremap on the financing. Coremap is the first IGNITE founder to secure a Series A round but will surely not be the last. The success of our cohort founders is validation that IGNITE is the premier accelerator focused on development and support of the medtech start-up community in Massachusetts,” said Brian Johnson, President of MassMEDIC.  

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About MassMEDIC:

The Massachusetts Medical Device Industry Council (MassMEDIC), an organization of more than 300 manufacturers, suppliers, research institutions, and academic health centers, promotes the unique interests of the Bay State’s growing and vibrant medical device sector. Through a variety of programs, informational seminars, advocacy campaigns and other projects, MassMEDIC provides medical device manufacturers and suppliers with information on industry trends and regulatory policies and creates forums that allow members to exchange ideas and information on issues affecting the industry. For more information on MassMEDIC, visit www.massmedic.com.

About The MedTech IGNITE Growth Challenge

The MedTech IGNITE Program is a virtual accelerator offering experiential training, mentorship, and networking curriculum, to attract and nurture the next generation of Boston-area medtech founders and entrepreneurs. IGNITE was relaunched in 2019 with a cohort of 16 companies and support from a grant from the Massachusetts Life Sciences Center (MLSC). IGNITE sponsors include Propel, Alira Health, Boyd Technologies and the MLSC. To join and connect with the MedTech IGNITE Community, visit: https://www.ignitemedtech.com/ and click on Go to Challenge. 

Media Contact:
Helen Shik

MassMEDIC 

617-510-4373

ShikPR@MassMEDIC.com

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