

Wara Samar
30th October 2024
Sonavex Secures $15M to Advance Cutting-Edge Ultrasound Solutions
Baltimore-based Sonavex, a Johns Hopkins spinout, has successfully closed a $15 million Series A-2 financing round. This investment will support the company’s pioneering ultrasound technologies, enabling progress in key clinical trials and the expansion of its product portfolio. The new funds follow several notable achievements, including strong clinical data, a new CPT code approval, FDA IDE approval for the MAFASA pivotal trial, and grant funding to support FDA clearance of its pipeline product.
On completing the milestone, David Narrow, CEO at Sonavex, says, “This $15M financing is a testament to the dedication and execution of the entire Sonavex team. Every member of the organization contributed to key recent milestones including completion of a successful clinical trial of EchoMark & EchoSure resulting in a publication, securing a new CPT code, gaining IDE approval for the MAFASA randomized controlled trial, and achieving critical results for our pipeline EchoGuide product, which attracted new NIH funding. The equity raise will support the ongoing randomized controlled trial for EchoMark & EchoSure while the new $2M NIH funding will fund a clinical trial and FDA clearance for EchoGuide.”
Advancing Ultrasound Solutions: EchoMark and EchoSure
Sonavex has made significant strides in the medtech space with its innovative EchoMark and EchoSure technology platforms. These solutions are designed to empower medical professionals in dialysis clinics with precise assessments of arteriovenous (AV) fistula maturation. EchoMark serves as a bioresorbable ultrasound marker, enabling detailed insights into blood vessels via EchoSure, a 3D AI-enabled ultrasound equipped with advanced capabilities to automatically detect and measure blood flow, vessel diameter, and depth in real-time. By delivering these critical vascular metrics directly at the point of care, Sonavex aims to improve patient outcomes and streamline the management of vascular access.

Building Clinical Evidence for EchoMark and EchoSure
The recent investment will fuel Sonavex’s ongoing efforts to build clinical evidence for their platforms. This includes a 304-patient randomized controlled trial that is currently enrolling, aimed at providing further validation for the effectiveness of EchoMark and EchoSure in improving clinical and economic outcomes for dialysis patients.
Investor Confidence Bolsters Sonavex’s Vision
The Series A-2 financing round attracted a mix of new and returning investors, highlighting confidence in Sonavex’s potential to redefine the ultrasound market. New backers such as Unorthodox Ventures, GenHenn Capital, JSTAR Capital, Oakwood Circle Ventures, Riptide Ventures, and Partners Investment joined existing shareholders and industry experts to support the company’s vision.
A Promising Future for Vascular Care
Sonavex’s recent funding success underscores its commitment to transforming the field of vascular care through groundbreaking ultrasound solutions. With robust support from the investment community and a focus on generating clinical evidence, the company is well-positioned to make significant progress in the medtech industry.
Share Innovations at MedTech Malta 2024
Sonavex’s CEO, David Narrow will be speaking at MedTech Malta 2024, a premier event hosted by MedTech World. Taking place from November 6th to 8th at the historic Mediterranean Conference Centre in Valletta, this event will bring together an impressive roster of CEOs, investors, and industry leaders. Register now and be part of engaging discussions, networking opportunities, and in-depth exploration of the latest innovations in medtech.
