Elucid Bioimaging Announces Notice of Award

WENHAM, Mass., May 17, 2019 /PRNewswire-PRWeb/ -- Elucid Bioimaging, Inc. today announced that that it has been awarded a highly-competitive Phase IIB Bridge Award from the National Heart, Lung, and Blood Institute of the NIH for its atherosclerosis evaluation software vascuCAP®. According to the funding opportunity announcement, the purpose of the SBIR IIB is to "facilitate and accelerate the capital-intensive steps that are required to transition to the commercialization stage by promoting partnerships between awardees and third-party investors and/or strategic partners."

The competitive review criteria for considering grant applications under this program include scientific merit, clinical utility, and strength of the commercialization plan. Quoting from the NIH's study section's summary statement, "As assessed in peer review, the main strengths of the application are the clinical value of being able to image unstable plaque, the potential of the product to reduce costs and duration of clinical trials of drugs targeting atherosclerosis, the value in the planned retrospective study as it would promote some level of acceptance and can be done on a compressed timeline, a high degree of innovation in the utilization of artificial intelligence and deep learning in the software, a well-qualified project team, a well-conceived commercialization plan, an appropriate regulatory strategy, and a strong environment."

"Despite advances in the care and management of patients with cardiovascular disease, it remains the largest cause of death and disability worldwide. We are pleased that vascuCAP®'s innovative incorporation of deep biological insights together with progressive machine intelligence is increasingly recognized as ground breaking," said Andrew Buckler, President of Elucid. "This grant award broadens our base of validated measurements and phenotype classification functionality while simultaneously providing substantial primary data for documenting vascuCAP®'s clinical utility and cost effectiveness in improving patient outcomes."

About Elucid Bioimaging Inc.
Elucid is a biomedical engineering company with a unique portfolio of expertise at the crossroads of quantitative medical imaging, clinical trials, surrogate endpoints and big data to enable its Computer Aided Phenotyping® or CAP® diagnostics platform. Elucid's first commercial product, vascuCAP® provides multi-dimensional visualization and measurements to aid clinicians in their analysis of arterial anatomy and tissue characteristics. With vascuCAP®, tissue characteristics implicated in high risk atherosclerotic plaque may be quantitatively measured from CT Angiography (CTA) in coronary, carotid, femoral and other arteries with high correlation with histopathology. vascuCAP® is available in the US under FDA 510(k) K183012, under a CE mark in Europe, and in a Research Edition configuration for clinical research studies. To learn more, visit http://www.elucidbio.com or contact Samantha St. Pierre at samantha.stpierre@elucidbio.com.

SOURCE Elucid Bioimaging, Inc.