Medtech company Perceptive Navigation said yesterday it won a $3 million Phase IIB Small Business Innovation Research grant from the National Heart, Lung and Blood Institute to support its Vu-Path ultrasound system.
The Baltimore-based company’s Vu-path system is designed to aid in minimally-invasive, point-of-care procedures. The system is a miniaturized, forward-viewing ultrasound probe combined with an interventional channel designed for needles, guidewires and other tools, the company said.
“I am delighted that Vu-Path is progressing to commercialization and look forward to seeing Vu-Path in the hands of clinicians. Vu-Path addresses a significant unmet need by reducing complication rates and increasing efficiency,” founder Dr. Theodore Abraham said in a prepared statement.
The $3 million grant will help support product development and clinical work necessary for the commercialization of the company’s Vu-Path ultrasound system. Perceptive said it will seek vascular access for its first regulatory approval.
“We are proud and fortunate to have the continued support of the NIH. The Phase IIB award signifies an important milestone for the company as we advance Vu-Path to a clinical study and commercialization,” CEO Todd Chappell said in a press release.