Conavi Medical, a Toronto-based healthcare company focused on cardiac imaging solutions, has entered agreements to receive more than $20 million in new funding. The money is expected to go toward expanding and boosting commercialization of the company’s new hybrid imaging platform.
The Novasight Hybrid System simultaneously performs intravascular ultrasound (IVUS) and optical coherence tomography (OCT). It was designed to boost outcomes when interventional cardiologists perform minimally invasive heart procedures such as percutaneous coronary intervention (PCI).
“By combining the two most commonly used imaging modalities—ultrasound and OCT—our system provides a comprehensive assessment of coronary arteries, which is useful for determining the size of the artery as well as both the nature and extent of the plaque” Brian Courtney, MD, chief medical officer and co-founder of Conavi Medical, said in a prepared statement. “A number of studies from around the world are consistently demonstrating that intravascular imaging improves procedural results in PCI and its use is growing. Hybrid imaging with IVUS and OCT will play an important role in this growth through its synergistic versatility in a wide range of coronary interventions and potential for greater ease and consistency of interpretation.”
“This transformational funding is a testament to the potential the Novasight Hybrid System has on a global scale,” added Thomas Looby, CEO of Conavi Medical. “It provides the company with the runway to reach important operational and commercial milestones as we drive the value proposition of this innovative system.”
The Novasight Hybrid System has already gained FDA clearance as well as key regulatory approvals in Canada and Japan.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.