HeartFlow Completes Series E Financing, Securing $240 Million

Proceeds Will Support Commercialization of HeartFlow®
FFRct Analysis, Continued Technology Innovation and Additional Clinical

today announced the closing of its Series E financing, securing
$240 million. The company will use the proceeds from this financing to
ramp up commercial expansion of the HeartFlow® FFRct
Analysis, continued technology innovation and additional clinical
studies. The HeartFlow Analysis is a non-invasive technology that
creates a personalized 3D model of the heart to help clinicians diagnose
and treat patients with suspected heart disease. The financing includes
investments from Wellington Management, Baillie Gifford & Company and
existing investors.

“We are incredibly pleased to have Wellington Management Company LLP and
Baillie Gifford & Company as anchor investors. This financing will
enable us to drive commercial success of the HeartFlow Analysis, which
is poised to become the global standard of care in the diagnosis of
coronary artery disease,” said John H. Stevens, M.D., president and
chief executive officer of HeartFlow. “Given our recent momentum with
clinicians, the Centers for Medicare & Medicaid Services, commercial
payers and strategic collaborators, we are well positioned for growth.”

HeartFlow has made significant progress in developing and
commercializing its pioneering non-invasive technology. The HeartFlow
Analysis has been used by clinicians at more than 80 medical
institutions around the globe. In the United States, several commercial
payers issued positive coverage decisions and the Centers for Medicare &
Medicaid Services (CMS) assigned a New Technology APC payment for the
HeartFlow Analysis. Additionally, the National Institute for Health and
Care Excellence (NICE) in the U.K. issued a positive guidance
recommendation for the use of the HeartFlow Analysis.

“We are delighted to be investing in HeartFlow on behalf of our
clients,” said Peter Singlehurst, investment manager at Baillie Gifford
& Company. “Heart disease is the leading cause of death globally, in
part owing to the difficulties around diagnosis. The HeartFlow Analysis
improves patient experience and outcomes, whilst also reducing costs for
overstretched healthcare systems — a dual objective that many
healthcare companies strive for but few achieve. The underlying
technology developed by HeartFlow also has the potential for broader
applications for heart disease and other conditions. The capital raised
here will enable HeartFlow to push forward with commercialization and
invest for long-term success by continuing to advance the ways in which
it can help patients and physicians.”

Coronary artery disease (CAD) affects 400 million people globally,1
and develops when the coronary arteries narrow, reducing blood flow to
the heart and causing chest pain (angina), heart attack (myocardial
infarction) and death. The HeartFlow Analysis is the first and only
commercially available non-invasive technology to provide insight into
both the extent of CAD and the impact of the disease on blood flow to
the heart.

About the HeartFlow FFRct Analysis

Clinicians diagnosing someone with suspected CAD want to know as
definitively as possible if the individual has a significant blockage in
their coronary arteries. They also want to know the impact of that
blockage on blood flow so they can best determine which treatment
pathway is appropriate (e.g., medical management, stenting or coronary
artery bypass grafting).

Data from a patient’s non-invasive coronary computed tomography
angiogram (CCTA) are securely uploaded from the hospital’s system to the
cloud. HeartFlow leverages deep learning to create a personalized,
digital 3D model of the patient’s coronary arteries. The HeartFlow
Analysis then uses powerful computer algorithms to solve millions of
complex equations to simulate blood flow and assess the impact of
blockages on coronary blood flow. The HeartFlow FFRct Analysis is
provided via a secure online interface to offer actionable information
to enable clinicians to determine the optimal course of treatment. To
date, clinicians around the world have used the HeartFlow Analysis for
more than 15,000 patients to aid in the diagnosis of heart disease.

This technology has been demonstrated to reduce unnecessary and invasive
diagnostic coronary angiography procedures, which can be associated with
bleeding, stroke, major blood vessel damage and other serious
complications. It also significantly reduces healthcare costs for

About Baillie Gifford & Company

Baillie Gifford & Company is an asset management firm founded in 1908
and headquartered in Edinburgh, Scotland. It employs more than 980
people and had assets under management and advice of over £166 billion
as of June 30, 2017. For more information, visit https://www.bailliegifford.com/about-us/.

About HeartFlow, Inc.

HeartFlow, Inc. is a medical technology company redefining the way heart
disease is diagnosed and treated. Our non-invasive HeartFlow FFRct
Analysis leverages deep learning to create a personalized 3D model of
the heart. By using this model, clinicians can better evaluate the
impact a blockage has on blood flow and determine the best treatment for
patients. Our technology is reflective of our Silicon Valley roots and
incorporates decades of scientific evidence with the latest advances in
artificial intelligence. The HeartFlow FFRct Analysis is commercially
available in the United States, Canada, Europe and Japan. For more
information, visit www.heartflow.com.

1 Murray C, et al. Global, regional, and national burden of
cardiovascular diseases for 10 causes, 1990 to 2015. JACC. 2017. DOI:

2 Douglas PS, DeBruyne B, Pontone G., Patel MR, et al.
One-year outcomes of FFRCT-guided care in patients with suspected
coronary disease: The PLATFORM Study. J Am Coll Cardiol.


HeartFlow, Inc.
Jennie Kim, 415-793-7686