Funding comes on the heels of key clinical, regulatory, and product development milestones
Sonavex, Inc., a privately held medical device company with ultrasound technologies that deliver quantitative blood flow and other critical vascular data at the point of care, announced the closing of its $15 million Series A-2 financing. The round attracted several new institutional investors, strong participation from existing shareholders, and industry veterans in vascular and dialysis. New investors include Unorthodox Ventures, GenHenn Capital, JSTAR Capital, Oakwood Circle Ventures, Riptide Ventures and Partners Investment.
Sonavex’s EchoMark® & EchoSure® technologies allow medical professionals to collect essential vascular parameters in the dialysis clinic to support AV fistula maturation assessment. A portion of the proceeds from this financing will support continued evidence development of EchoMark & EchoSure, including its actively enrolling 304-patient randomized controlled trial, MAFASA (Maturation of Arteriovenous Fistula with Automated Sonography Assessments).
“This fundraise represents the culmination of the extraordinary multidisciplinary team effort over the past several months,” said David Narrow, CEO of Sonavex. “The team’s ability to secure strong clinical data, a new CPT code, FDA IDE approval for the MAFASA pivotal trial, and grant funding to support FDA clearance of our pipeline product in a short period of time was instrumental in attracting the financing.”
About Sonavex, Inc.
Sonavex, Inc. is a Baltimore-based medical device company originally spun out of Johns Hopkins. The company has developed a portfolio of novel ultrasound solutions that empower patient care by delivering critical visual and quantitative data to improve outcomes and reduce costs. For more information, please visit www.sonavex.com.
