Clinical-stage medical device company nVision Medical has earned $12 million in a Series B round. The funding will go toward product development, clinical studies and regulatory submission for the company’s microcatheter tech.
The microcatheter tech allows for doctors to access the fallopian tubes in the office without the need of any incisions or general anesthesia. The tech is currently focused in two areas: cell collection from the fallopian tubes and direct visualization of fallopian tube lumen.
The financing round was led by Arboretum Ventures, a new investor out of Ann Arbor, Michigan. Along with that, Tom Shehab will join the board of directors. All Series A investors took part in the Series B round as well.
"nVision's Series B financing validates the strength of our team's accomplishments to date,” said Surbhi Sarna, CEO and president of nVision, in a statement. “With the Series B financing, we are poised to further develop these technologies, seek additional regulatory clearances, and demonstrate clinical utility."
nVision has already earned FDA clearance earlier this year for a device that collects fallopian tube cells. The company also did a first-in-human case for a device that offers direct visualization of the fallopian tube.
"We believe nVision is tackling substantial unmet needs within women's health utilizing a very novel and very promising approach,” Shehab said in a statement. “With this new funding, the company is now well positioned to reach meaningful milestones in the year ahead."
- here's the press release