Business
Conavi Medical Reports Fiscal Q2 2025 Interim Results and Operational Highlights
New U.S. intracoronary imaging guidelines from the American College of Cardiology and recent peer...
About this update from Conavi Medical Corp.
[{"type":"text","content":"Conavi Medical Reports Fiscal Q2 2025 Interim Results and Operational Highlights\n\n\n\n\n New U.S. intracoronary imaging guidelines from the American College of Cardiology and recent peer-reviewed research strongly validate Novasight’s unique value proposition\n \n\n Upsized $20 million financing led by U.S. institutional investors is expected to fund key value inflection points through planned commercial launch of next-generation Novasight Hybrid™ System in H1 2026\n \n\n U.S. FDA 510(k) submission remains on track for calendar Q3 2025\n \n\n\n\n TORONTO, May 30, 2025 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV: CNVI) (OTCQB: CNVIF) (“Conavi Medical” or the “Company”), a commercial-stage medical device company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures, today announced its financial results for the fiscal quarter ended March 31, 2025.\n \n\n \"We are thrilled to have raised $20 million in financing to support finalizing product development of the next-generation Novasight Hybrid system, submit for regulatory clearance and enable commercial launch,\" commented Thomas Looby, CEO of Conavi Medical. “The team deserves huge credit for maintaining our timelines while working to support a significantly upsized raise in challenging market conditions. The participation of U.S. institutional investors is itself a powerful endorsement of our team, technology and strategy to set a new imaging standard for the most common procedures in interventional cardiology. Coupled with the recent upgrade in U.S. medical guidelines, we believe our timing for unlocking substantial shareholder value could not be better.”\n \n\n\n Business Highlights\n \n\n\n All amounts in Canadian dollars unless specified otherwise:\n \n\n\n In January 2025, the Company completed the design freeze of the next-generation Novasight Hybrid System and initiated design verification testing in support of a regulatory application to the FDA. Activities during and after the quarter enabled Conavi to remain on track for its planned U.S. FDA 510(k) submission in calendar Q3 2025, which will build upon the previous clearance of the first generation Novasight system.\n \n\n In March 2025, new intracoronary imaging guidelines were issu...