Ultrasound-tech developer Novuson said on Tuesday that it is receiving funding from Japan’s Hoya Corp. (TYO:7741) to support the finalized development of its direct therapeutic ultrasound (DTU) UltraStat 3mm vessel sealer and divider.
The Bothell, Wash.-based company said that the DTU system is a novel approach using a therapeutic modality of ultrasound that avoids the need for the transmission of electricity through the patient’s body.
Novuson said that the UltraStat could see applications in urologic, pediatric, gynecologic, bariatric, trauma and other surgical specialties.
“We are excited to partner with Hoya Corporation, their funding will provide necessary capital to finalize our commercial development enabling Novuson to submit our launch product, the UltraStat 3mm Mini LS, for our first 510k Clearance with the FDA by the end of this year,” Novuson founder & CEO Stuart Mitchell said in a press release.
Novuson added that as part of the round, Hoya corporate venture capital director James Kaiser will be joining the company’s board.
“This investment into Novuson Surgical demonstrates Hoya’s committed involvement in the development of novel laparoscopic medical devices. We look forward to working with the Novuson team to improve clinical outcomes for patients with this advancement in ultrasonic laparoscopic devices,” Hoya corporate venture capital VP & global head Rubal Bedi said in prepared remarks.
In August 2016, Novuson said that it won $1.47m through a Phase 2 SBIR grant from the National Institute of Health’s National Heart, Lung and Blood Institute.