LUMO Labs, Utrecht Region and Utrecht Health Seed Fund have concluded a joint investment of 900,000 euros in Cordys Analytics, a Dutch healthtech spin-out from the University Medical Center Utrecht (UMCU) and incubated within UtrechtInc.
The AI-powered software platform for electrocardiogram analysis (AI-ECG software) developed by Cordys Analytics offers a new and innovative solution for healthcare professionals to detect heart disease earlier and more accurately. By harnessing the power of advanced deep learning techniques, this software enhances the diagnostic process by identifying subtle patterns and abnormalities in electrocardiogram data (ECGs) that might not be easily discernible through traditional methods. The software provides valuable new insights and supports healthcare professionals in making informed decisions.
By enabling early detection, prevention, and more efficient diagnosis, AI-ECG software has the potential to reduce overall healthcare costs by minimising hospitalizations and complications associated with untreated heart conditions. With the AI-ECG software from Cordys Analytics, doctors and other healthcare professionals can detect heart disease earlier and more effectively, preventing unnecessary casualties and high treatment costs in the healthcare system, while improving the quality of life for patients with a heart condition.
The software’s vendor-agnostic nature allows it to seamlessly connect various healthcare organisations and ECG devices, making it a versatile tool for healthcare professionals working in different clinical settings and regions around the world. Its cloud-based architecture provides operational benefits, such as real-time data analysis, remote accessibility and scalability.
“We are thrilled to have these investors on board. By being part of their network and supported by this investment we are well-positioned to further expand our software platform and make it suitable for clinical use,” said Cordys Analytics CEO John van den Berg. “With our highly skilled development team, we are developing user-friendly interfaces that present ECG analysis results in a clear and understandable manner for doctors and other healthcare professionals. Through our long-term research collaboration with the UMCU, we will develop and refine AI-ECG algorithms and software and integrate our diagnostic services into the workflow of doctors and other healthcare professionals.”
“Integrating the unequalled potential of AI in healthcare for early detection and prevention not only has a tremendous impact on the quality of life of individual patients, but it also contributes to a more sustainable, affordable healthcare system,” said Andy Lürling, Founding Partner at LUMO Labs. “Cordys’ software has these qualities and because it is vendor-agnostic, these benefits can scale wide and far. This fits our investment focus perfectly.”
Picture during the ceremonial hand-over of the investment tree, during startup event Crossroads.
“At ROM Utrecht Region we strongly believe in the potential impact of the algorithms developed by Cordys Analytics,” said Adinda Woelderink, Investment Manager of ROM Utrecht Region. “The amount of data generated within cardiology offers a unique opportunity for AI-powered ECG analysis to be supportive in workflows and optimised detection of ECG abnormalities. The Cordys team has all that is needed to bring this innovative solution further into the clinic.”
“We are excited to invest in Cordys Analytics and team towards redefining the way ECG analysis and processing is done,” said Timo Koopmans, Investment Manager of Utrecht Health Seed Fund. “The team is well-positioned to bring its technology to market so that patients and healthcare providers alike can benefit from it.”
About Cordys Analytics
Cordys Analytics is a Dutch healthtech start-up that specialises in developing AI-powered software for analysing electrocardiograms (ECGs). The company originates as a spin-out from the University Medical Center Utrecht (UMCU) through researchers and co-founders René van Es and Rutger van de Leur and focuses on the use of advanced deep learning techniques to provide valuable new insights to healthcare professionals in making informed decisions. In 2023 Cordys Analytics entered into a long-term collaboration agreement with the UMCU, strengthening its ties with the institution where it originated. In that same year it became a member of the incubator community UtrechtInc where it has its offices.
ROM Utrecht Region is a social investor that increases access to capital for innovative companies in the region. The ROM invests in the major transition sectors that are important for tomorrow’s economy: digital, health and sustainability. To realize the financing for these companies, the ROM works together with many partners within and outside the region. The ROM has two funds: the Healthy Urban Living Proof Of Concept (HUL POC) Fund and the Participation Fund.The HUL POC fund is made possible by co-financing from the Province of Utrecht and the European Regional Development Fund (ERDF). The investment in Cordys is done out of the HUL POC fonds.
