TORONTO, CA, September 18, 2023 – Conavi Medical, Inc. (www.conavi.com), a leader in hybrid intravascular imaging, is pleased to announce the close of $12.5 mil USD of funding, including participation from existing investors. The round was led by CPOINT Capital, which is a professional life science investment firm with an established track record of success.
Conavi Medical has developed and launched the Novasight Hybrid® system (www.novasighthybrid.com), which is the first and only intravascular imaging platform that combines co-registered ultrasound (IVUS) and optical coherence tomography (OCT). The system has FDA clearance for coronary use and has used by a number of luminary academic hospitals and key opinion leaders in the United States. A recent metaanalysis published in the New England Journal of Medicine of 20 randomized controlled studies involving over 12,000 patients showed a statistically significant reduction in all-cause death, myocardial infarction, and target vessel revascularization resulting from the use of intravascular imaging in percutaneous coronary interventions (N Engl J Med 2023; 388:1668-1679).
“Enthusiasm in the clinical community is palpable, and Conavi Medical is well positioned to support the growth in adoption of intravascular imaging” said Thomas L. Looby, Chief Executive Officer. “Our physician key opinion leaders are particularly excited about the potential of the Novasight Hybrid system to better inform the treatment of patients with complex coronary artery disease. IVUS and OCT each have their advantages and limitations in complex cases. The ability of the Novasight Hybrid system to acquire both IVUS and OCT simultaneously provides the physician with a comprehensive view of the disease, without the need for additional time or cost compared to other systems.”
“Conavi has assembled an experienced and professional management team capable of capitalizing on this rapidly growing market opportunity”, said Craig Podolsky, co-founder and Partner of CPOINT Capital. “We have been involved with the company for many years and believe that now is the time.”
The funding is part of a larger effort by Conavi Medical to raise up to $30 mil USD to expand its commercial footprint and ready the system for broad market adoption.
About Conavi Medical and Novasight Hybrid
Conavi Medical Inc., is a privately-held company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. The Company’s patented hybrid intravascular imaging system is the first and only of its kind to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. Conavi is focused on driving adoption of its advanced imaging solution. For more information, visit www.conavi.com or www.novasighthybrid.com
Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration, and regulatory approval for clinical use from Health Canada, the Ministry of Health, Labor and Welfare (MHLW) in Japan, and the National Medical Products Administration (NMPA) in China.
Contacts
Brian Chambless Chief Commercial Officer, Conavi Medical info@conavi.com
