Sonavex is a Johns Hopkins spin-out commercializing EchoSure, a product that enables nurses to detect blood clots after surgeries at a high risk for thrombosis. Early detection of these clots enables surgeons to prevent catastrophic surgical failures, which cost hospitals up to $577,000 of non-reimbursed expense per instance. The technology also saves hospitals thousands of dollars per use by enabling post-operative monitoring outside of the expensive ICU.
Sonavex met with the FDA to review its data and confirm the regulatory pathway, and anticipates commercialization in Q1 2018.
The company closed $2.2 million of its Series A, which is led by an institutional investor, and has expanded the offering to $3.5 million. Additionally, the company has significant non-dilutive capital from the NIH and NSF, including a recently awarded Phase 2 SBIR grant.