Johns Hopkins spinout Sonavex reeled in $3 million, including $2.2 million from the first close of its Series A round, which will drive the commercialization of the company’s ultrasound device that detects blood clots in patients after surgery.
While ultrasound is useful for monitoring blood flow, sonographers must be trained to interpret the images. Sonavex’s EchoSure technology is a doppler ultrasound system that automatically detects blood flow loss, making it possible for non-sonographers to monitor blood flow. It would be useful for the monitoring of patients who have undergone procedures that involve surgically connecting arteries and veins, the company said.
Catching postoperative clots early allows physicians to intervene quickly to prevent vessel blockage and surgical failure.
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“Our ultrasound technology offers a game-changing solution to a catastrophic problem for patients,” said Sonavex Chief Medical Officer Devin O’Brien Coon, M.D., in a statement. “For decades, surgeons have sought a reliable way to detect early thrombosis after surgery and we are eager to begin using EchoSure in the clinic.”
The funding comprises $2.2 million in equity and another $750,000 in a Small Business Innovation Research grant from the National Science Foundation, according to the statement. In addition to bankrolling the commercialization of the EchoSure technology, the funds will support the development of Sonavex’s pipeline of perioperative ultrasound solutions, the company said.
Grey Sky Venture Partners led the financing, while CRCM Venture Capital, TEDCO and the Abell Foundation also participated.