Medtech Navi Raises A$6.8 Million for US Paediatric Technology Commercialisation
Australian medical technology company Navi Medical Technologies has secured A$6.8 million to commercialise its paediatric vascular access technology in the United States.
Melbourne and Boston-based medical device company Navi Medical Technologies has completed a capital raise of A$6.8 million. The funds will be used to commercialise the company's paediatric vascular access technology within the United States market.
The company develops hardware and software aimed at enhancing the safety of establishing vascular access in paediatric patients. This technology seeks to reduce procedure-related risks and improve patient outcomes. The funding will specifically support the regulatory approval process and market introduction in the US.
Navi Medical Technologies stated that the capital raised will also facilitate continued product development and the expansion of clinical studies. The company aims to establish a significant presence in the US market for paediatric healthcare devices.
With the funding round closed, Navi Medical Technologies will now focus on obtaining approval from the US Food and Drug Administration (FDA) and preparing for the technology's launch.