Presenting Health Incubator Helsinki batch 4 companies:

Remote health monitoring can reduce the burden on the healthcare system. Digital health startup Cardiolyse‘s technology incorporates patient’s personal medical and lifestyle history, with 70 years of existing heart data across different ages, sexes, and ethnicities to create a personalised heart health report. Cardiolyse in one of the startups selected for the Health Incubator Helsinki 2023 programme.

The cornerstone of Cardiolyse’s innovative approach is its smart remote heart health monitoring platform. This platform not only provides a detailed report to healthcare providers, but also offers patients an easy-to-understand heart-health risk assessment. Patients can now take an active role in their heart health by conducting an initial evaluation themselves.This is a game-changer for the industry, where a scarcity of heart professionals and the rising number of patients have become major concerns. Cardiolyse technology stands out due to the extent of the evaluation which includes input from all known cardiac parameters and nervous system responses like the “fight or flight” (sympathetic) response, and the “ rest and digest” (parasympathetic) response.

Patients can take an active role in their heart health which is a game-changer for the industry.

Relocation from Ukraine to Finland

Cardiolyse was originally founded in 2015 in Ukraine by cardiologist Illya Chaikovsky and computer and data scientist Anna Starynska. At this point they were already familiar with the issues of difficult-to-interpret heart data and the burden heart monitoring places on cardiologists. They applied for the Vertical Health Accelerator in Helsinki, and were invited to relocate to Finland in 2017.For the past seven years, Cardiolyse has been on a mission to provide the best remote detection of cardiac abnormalities. They do this by incorporating heart monitoring data from the clinics or at-home devices, which comes in the form of an electrocardiogram (ECG), into a cloud-based AI algorithm.Currently, Cardiolyse is onboarding a new CEO, Niina Vilkas, a clinician with a background in open heart surgeries, anesthesiology, and medical device businesses.“Cardiolyse combines everything I have dreamed about. It is a cardiac-based medical software. It has AI-based technology. It’s a startup with a small team. I am looking forward to working with the team and building the company into something extraordinary,” Vilkas says.“Every member in this team is extremely professional in their own areas of expertise. They are passionate and very committed to the company and its vision,” Vilkas continues.

Cardiolyse Fast Facts

Name: CardiolyseTech in one sentence: AI-based platform for the prediction of heart disease riskTarget product: Personalised reports, detection and up to two months data-based prognosis on dangerous heart eventsMarket launch: 2021Founded: 2015 in Ukraine, 2017 in FinlandTeam size: 12Funding raised (by 11/2023): €1.7M since 2017Photo: Cardiolyse team members Anna Starynska (left), Niina Vilkas and Illya Chaikovsky

Cardiolyse enables heart health monitoring between doctors visits

The Cardiolyse universal electrocardiogram (ECG) scoring system can help follow up heart failure patients after myocardial infarction, as well as patients of ischemic stroke and atrial fibrillation. In addition to the technology, the team focuses on providing services to physicians to follow up on patients with chronic conditions. In practical terms, this means that patients who leave the healthcare professional are no longer left wondering how their heart is performing until their next visit.“When a patient takes a measurement at home with Cardiolyse, the patient can also report the symptoms. The measurement coupled with the symptoms is sent to the nurse or physician with a notification that says ‘there are no reported symptoms or abnormalities’. Or ‘reported symptoms: dizziness, and abnormalities detected,” Starynska explains.Physicians can receive updates of a patient’s heart status in an easy-to-read format, potentially reducing the number of physical visits overall.“All the data has already been gathered and automatically analysed, so the doctor doesn’t need to use their time to do that, and they can focus on the patient instead,” Vilkas adds.Cardiolyse measurements are device agnostic, meaning the readings can be taken with any existing ECG hardware. Additional health parameters from smart watches, like blood pressure and pulse oxidation, and existing medications can also be incorporated into the algorithm for a more personalised and accurate risk assessment.

All the data has been gathered and analysed, so the doctor can focus on the patient instead.

Customised incubator programme to fit the needs of each team

The Cardiolyse team applied to Health Incubator Helsinki programme for access to a broad pool of potential customers, health care providers, investors, and other stakeholders that the business needs to interact with. However, what they are receiving is so much more.Cardiolyse now has access to experts in software development, validation, certification, IPR, sales, and marketing among others. Additionally, the team can attend weekly webinars, review meetings, and receive information about potential funding. The Cardiolyse team sees their previous business experience as an advantage during the first months within the Health Incubator Helsinki programme.“When expertise is provided to you, experience helps to digest it all and to convert it into advantages for your company,” Starynska says.The incubator programme is customised based on the individual needs of each selected team to maximise the odds of success. Health Incubator Helsinki is supporting Cardiolyse in their goal of accessing the global market due to the nature of their services, which is not connected to any local language, but data from healthcare. Their B2B model provides analytics to telemedicine companies, hospitals, device manufacturers, and electrocardiogram device manufacturers.The Cardiolyse team is currently looking for funding. They have an open round to bridge investments to reach series A within one year. Series A funding is the next stage following seed funding.To help the team reach their €0.5M goal, reach out to Cardiolyse with the contact information below.Contact Cardiolyse: niina.vilkas@cardiolyse.comRead more:Here is the Health Incubator Helsinki batch of 2023
Check out all the companies in the Health Incubator Helsinki programmeText: Rita Turpin, Giuliano Didio
Health Capital Helsinki