ASX-listed (code ‘AYA’) health tech company Artrya has officially opened its plush new offices on Hay Street in West Perth.
West Australian Deputy Premier Roger Cook and Chief Scientist Prof Peter Klinken were both on hand to do the honours, together with co-founders CEO John Barrington AM and John Konstantopoulos.
Last November, the company listed on the Australian stock market raising A$40M, on an imputed market capitalisation of $106M.
Established in 2019, the company is pioneering artificial intelligence to improve cardiovascular care. Coronary artery disease is the leading cause of death in Australia, yet, as John Barrington said at the office opening, “…diagnostic methods for this disease have remained unchanged for nearly 50 years.”
Artyra works alongside clinicians to improve diagnosis of heart disease. It aims to develop an overview of patients most at risk. Treating issues early can prevent serious illness, and death.
Heart disease is the number one killer of humans on the planet (WHO, 2019).
“The team has developed deep-learning algorithms that streamlines how medical care is being delivered,” said John.
John also acknowledged the important development partners who have been instrumental in this work: Envision Medical Imaging, Harry Perkins Institute of Medical Research, Monash Heart and the University of Ottawa Institute.
The company now employs more than 40 people in West Perth and overseas.
Last month, Artyra appointed a new non-executive director Dr Jacque Sokolov to the board. He is also chair and president of Artrya USA Inc, and chairs the company’s Clinical Advisory Board. Over the course of his career, Dr Sokolov has advised US companies and government entities, including the White House under four presidents, Senate and House committees.
In June, the company had a setback in its registration for FDA approval in the US. Their AI-driven product Salix Coronary Anatomy (SCA) did not get clearance from the US Food and Drug Administration. However, Salix is already listed on the Australian Register of Therapeutic Goods (ID 347719), with commercial release of SCA planned for this new financial year.
At the time, it was reported that Artrya had a healthy bank balance, with cash at call and on deposit of around $36 million.