New York, NY (PRWEB) March 30, 2017
“It is both humbling and tragic that in the time it takes me to compose this note of gratitude, at least twenty women will die of cardiovascular disease in the US – a disease that is 80-90% preventable. It is this singular fact that drives us at Cordex to create technology to address the health needs of women and men with a device to detect the earliest signs of heart disease.” Dr. Kathy Magliato, Founder, CEO and Chief Medical Officer, Cordex Systems
Plum Alley Investments, a company that forms syndicates of its members to invest in innovative private companies with women entrepreneurs and gender-diverse teams, announced the closing of a $1.19 million investment in Cordex Systems as part of the company’s Series A capital raise.
Cordex Systems is an early stage company that has created a proprietary, innovative and patented SmartCuff TM that is designed to detect the early presence of cardiovascular disease. The technology, which is non-invasive, non-imaging and non-operator dependent, is a point-of-care test that takes less than 10 minutes to perform. The Founder and CEO, Dr. Kathy Magliato MD, MBA, FACS is a nationally recognized expert in heart disease and one of the few women cardiothoracic surgeons in the country, a field in which women represent only 3% of the total surgeons. Having performed surgery and interventions in top medical facilities including Cedars-Sinai in LA, Dr. Magliato saw firsthand that most cardiac interventions are invasive and come at the extreme end-stage of heart disease when transplants are often needed for survival. Cordex Systems' patented SmartCuffTM aims to detect the earliest signs of heart disease with the hopes of preventing further cardiovascular deterioration and improving the quality of life.
Cardiovascular disease is the No. 1 cause of death in the world, accounting for more than 17.3 million deaths per year, a number that is expected to grow to more than 23.6 million by 2030. Over 85 million Americans are living with heart disease and 2,200 Americans die every day – that’s one death every 40 seconds. 90% of cardiovascular diseases can be prevented, if diagnosed early, by addressing behavioral risk factors such as tobacco use, unhealthy diet, obesity, physical inactivity and controlling blood pressure and diabetes. However, with the currently available diagnostic approaches, cardiovascular disease is very hard to diagnose at this critical early, treatable stage.
“When you look at the numbers, it is truly shocking that heart disease continues to be so widespread.” Dr. Magliato has the real life and death experience with her cardiac patients and has been a spokesperson for the American Heart Association. “It takes a person with true commitment and a broad base of business and medical skills to bring forward a solution. The women and men of Plum Alley Investments elected to invest in both this visionary founder and innovative new technology that has the potential to save millions of lives,” said Deborah Jackson, CEO of Plum Alley.
This Company’s $5 million+ Series A round was funded by a broad base of professional and strategic investors, family offices and C-suite former and current executives from major fortune 500 companies including Pfizer, PwC, Morgan Stanley, Schwab and NBC Universal along with the Plum Alley syndicate. Other investors include Venetto Ltd., following the initial funding from National Institutes of Health, Maryland Technology Development Company (TEDCO), and Maryland Industrial Partnerships (MIPs).
Linnea Roberts, a member of Plum Alley and investor in the syndicate had this to say: “I invest in the most promising companies with gender diverse founding teams because these teams will make the highest returns. Cordex Systems is a company we need in the world and Dr. Kathy Magliato epitomizes a talented physician and business woman with impressive results to date. She will get the job done.”
Plum Alley Investments http://www.plumalley.co is a modern investing platform where women and men engage in a new way around investing in purposeful and innovative private companies. Cordex Systems is the 5th syndicate investment in a private company in the last 14 months with their syndicates aggregating nearly $3 million. The other Plum Alley syndicate investments have been in companies with innovations in early childhood education, SAAS innovative hiring and unconscious bias technology, stem cell creation of bone, and a digital market for private investigators. Plum Alley has over 200 members and invests across sectors but has a screen for women entrepreneurs in the founding team and companies with potential for strong financial and personal returns.
For Immediate Release
For additional information on Cordex Systems or Plum Alley, please contact Dara(at)plumalley(dot)co
Read the full story at http://www.prweb.com/releases/2017/03/prweb14192662.htm.
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