Medical device startup Sonavex raises $3 million and is looking to hire

As Sonavex works to commercialize a device to detect blood clots following surgery, the company announced new funding and is planning to begin R&D on new products.
The Johns Hopkins spinout raised $3 million in funding, CEO David Narrow said.
That includes a $2.2 million Series A, which was led by Grey Sky Venture Partners. CRCM Venture Capital, TEDCO and the Abell Foundation also participated.
Along with the equity funding, the company also received a $750,000 Phase II Small Business Innovation Research (SBIR) grant from the National Science Foundation.
The funding will help the company as it works toward FDA approval of its device, Narrow said. Known as Echosure, the implant uses ultrasound to identify blood clots after reconstructive surgery. Speeding up detection is key to prevent the blood clots from spreading.
The company is also planning to explore additional applications for the technology at other phases of the surgical process, Narrow said.
Narrow said the company is also planning to hire to add to its six-person team following the new funding.
Narrow pointed to the importance of “surrounding yourself with people who have done this before.” To that end, the company also added two board members: Bill Niland, CEO of University of Maryland spinout Harpoon Medical, and former Beckton Dickinson executive Bob Hallenbeck.
“I believe in the technology, business case, and most importantly, the ability of the team to execute on the plan and grow the company,” Hallenbeck said in a statement.