The Company
iCardiac Technologies is a leading provider of advanced cardiac safety analysis technologies. The company develops and implements advanced ECG-based cardiac safety biomarkers and tools. iCardiac provides drug developers with more precise and cost-effective methods for QT interval measurement. In addition, it provides a suite of advanced ECG-based cardiac safety markers that deliver a more accurate assessment of the cardiac safety profile of drugs in development.
The Partnership
iCardiac was introduced to the Topmark team via a long-term relationship in Rochester, NY. Topmark invested in iCardiac through a legacy fund. We were attracted to the opportunity due to the deep domain experience of the management team, the validated technology platform developed over many years at the University of Rochester, and the partnership secured with an industry-leading pharmaceutical company. Additionally, iCardiac’s platform had a strong recurring revenue component and once adopted it would become integral to the customer’s clinical trials process. Topmark co-led iCardiac’s initial institutional funding round and collaborated closely with management and the board on strategic initiatives, corporate governance, and financing.
Topmark invested in iCardiac through a legacy fund and exited its investment when Norwest Venture Partners acquired a controlling interest in the spring of 2014. iCardiac was subsequently acquired by ERT.