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Navi Medical Technologies has raised A$6.8 million to support the US commercialization of its Neonav® vascular access technology following FDA 510(k) clearance and the start of clinical evaluations at two leading US children's hospitals.
Led by KP Rx, with participation from Innovation Victoria and Pacific Channel, the funding will be used to expand manufacturing, build the company's US commercial team, and launch Neonav® in children's hospitals. Commercial sales are expected to begin this year.
Neonav® is designed to improve central venous catheter placement and monitoring in neonatal and pediatric patients by combining real-time ECG-guided tip location with ongoing catheter migration surveillance. The technology aims to improve patient safety and reduce reliance on repeat X-ray imaging, addressing a longstanding unmet need in pediatric critical care.
“This investment allows us to scale manufacturing, grow our US team and partner with leading children's hospitals as we work to establish a new standard of care in neonatal and paediatric vascular access,” said Alex Newton, CEO of Navi Medical Technologies.
