Baltimore Medical Device Startup Perceptive Navigation LLC Looks to Raise $4 Million - Baltimore Business Journal

Baltimore Medical Device Startup Perceptive Navigation LLC Looks to Raise $4 Million - Baltimore Business Journal
Baltimore medical device firm Perceptive Navigation LLC is looking to raise $4 million in new funding, according to a recent filing with the U.S. Securities and Exchange Commission. The Johns Hopkins spinout is raising a Series A round. It follows a $500,000 seed round raised in 2015, backed by the Maryland Venture Fund and the Abell Foundation, to...

Baltimore medical device firm Perceptive Navigation LLC is looking to raise $4 million in new funding, according to a recent filing with the U.S. Securities and Exchange Commission.

The Johns Hopkins spinout is raising a Series A round. It follows a $500,000 seed round raised in 2015, backed by the Maryland Venture Fund and the Abell Foundation, to work toward securing regulatory approval for its first medical device product. Perceptive Navigation also previously received a $1.4 million grant from the National Institutes of Health.

When the startup filed SEC documents for its latest round in late February, $250,000 of the $4 million listed goal had already been raised, with participation from two investors.

The company declined to comment for this story.

Perceptive Navigation has been developing ultrasound technology, called the Vu-Path Ultrasound Guidance System. It applies imaging technology to a needle-like device that can be inserted into a patient and give doctors a clearer view of pathways inside the body. The goal is to enable care providers to more accurately and efficiently perform minimally-invasive interventional procedures.

The device was originally developed by Dr. Theodore P. Abraham, a Johns Hopkins cardiologist who wanted an ultrasound probe that would result in fewer surgical complications.

Source: www.bizjournals.com