Seattle-area company VerAvanti lands $31.5M to develop scopes to prevent strokes, heart attacks
VerAvanti team members from the left: Jason Capodanno, chief operating officer; CEO and co-founder Gerald McMorrow; and Juan Vegarra, chief marketing officer. (VerAvanti Photo)
Medical technology company VerAvanti announced $31.5 million in funding to advance its work on ultra-thin imaging scopes that can be used in the prevention of strokes and heart attacks.
The Bothell, Wash.-based business also shared that it has signed a lease on a manufacturing facility near its headquarters.
The company has raised $40 million, including today's Series A round, from friends, family and other 'high-net worth individuals,' according to a spokesperson. It has not taken any venture capital funding.
The investment allows the business 'to move from 'research' into 'development and manufacturing' mode,' said CEO Gerald McMorrow, in statement.
The company, he added, is working to comply with feedback from a pre-submission meeting that it held with the U.S. Food and Drug Administration ahead of seeking FDA approval for its device. VerAvanti aims to release a commercial product by the first quarter of next year.
McMorrow and Russell Garrison launched VerAvanti 2013. The pair previously co-founded another medical device company called Verathon, which they sold in 2009 for $300 million. Garrison left VerAvanti in 2018.
VerAvanti was founded on technology licensed from the University of Washington to develop Scanning Fiber Endoscopy (SFE) technology. The devices include sterile, single-use imaging catheters with a 1 millimeter diameter. The laser-scanning scopes give doctors and surgeons a real-time look inside a patient's intravascular anatomy to better detect the causes of strokes and cardiac events.
The company's new facility will include construction of a larger 'clean room,' allowing it to expand its production
capacity to meet anticipated demand. Its headcount is less than 20 and comprised mostly of engineers.
VerAvanti also announced a letter of intent with Dr. Patrick McVeigh, a vascular surgeon in Toronto, and his team. The partnership includes a collaboration on an 'SFE 'see-through blood' research project,' the company said, describing the effort as 'a breakthrough initiative with the potential to dramatically advance diagnostic capabilities and improve outcomes across multiple therapeutic areas.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
26 minutes ago
- Business Upturn
ProZenith Launches Natural Supplement Formulated for Weight Management Support
By GlobeNewswire Published on June 7, 2025, 06:50 IST Aurora, June 06, 2025 (GLOBE NEWSWIRE) — ProZenith recently announced the launch of its new wellness supplement developed to assist individuals in maintaining energy, focus, and mindful appetite awareness as part of a balanced and active lifestyle. Manufactured in the United States in a facility that is FDA-registered and GMP-certified, the product is now available through official online channels. ProZenith is intended for individuals pursuing support for general weight management and overall well-being. Its formulation includes select ingredients chosen to align with healthy routines and support individuals seeking help managing non-hunger-related snacking behaviors. Each purchase of ProZenith is covered by a 60-day refund policy, reflecting the company's customer-first return assurance framework. All ProZenith supplements are manufactured without genetically modified ingredients and adhere to U.S. quality standards. Production takes place in an FDA-registered facility that complies with current Good Manufacturing Practices (cGMP). ProZenith is currently available through the company's official online platform at with multiple purchase options provided for convenience. About ProZenith ProZenith develops nutritional supplements designed to support individuals on their wellness journeys. The company emphasizes high-quality manufacturing, transparency, and customer satisfaction as it continues to expand its product offerings for health-conscious consumers. For customer support inquiries, contact: [email protected] Disclaimer: This product has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. Media Contact: Company: ProZenith ProZenith Address: 19655 E 35th Dr #100, Aurora, CO 80011 19655 E 35th Dr #100, Aurora, CO 80011 Email: [email protected] [email protected] Order Phone Support: (925) 217-7353 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
an hour ago
- Yahoo
RenovoRx (RNXT) PT Raised to $11.50 by Ascendiant on Strong Q1 2025 Results
On Thursday, Ascendiant analyst Edward Woo raised the price target on RenovoRx Inc. (NASDAQ:RNXT) to $11.50 from $11, while maintaining a Buy rating on the shares. This adjustment follows the company's strong revenue growth reported in its Q1 2025 results. Woo indicated that the commercialization of RenovoCath and anticipated positive clinical data in Q3 will serve as strong catalysts for the stock. A clinical researcher in a lab examining a new biopharmaceutical product. The Q1 result includes ~$200K in revenue from commercial sales of RenovoCath alone. RenovoCath is an FDA-cleared and dual-balloon catheter device for the targeted isolation of blood flow and delivery of fluids. R&D expenses increased to $1.7 million, up from $1.3 million in Q1 2024, which was driven by higher employee compensation and manufacturing costs during the quarter. The company's Phase 3 TIGeR-PaC clinical trial showed promising results, with patients experiencing a median overall survival of 16 months using their targeted approach compared to 10 months with standard chemotherapy. There was also a 65% reduction in adverse events like nausea and fatigue. This trial is evaluating the company's proprietary TAMP therapy platform for the treatment of Locally Advanced Pancreatic Cancer. RenovoRx Inc. (NASDAQ:RNXT) is a clinical-stage biopharmaceutical company that develops targeted combination therapies to enhance therapeutic outcomes for cancer patients undergoing treatment. While we acknowledge the potential of RNXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
ProZenith Launches Natural Supplement Formulated for Weight Management Support
U.S.-Made Product Supports General Wellness Goals with a 60-Day Refund Policy Aurora, June 06, 2025 (GLOBE NEWSWIRE) -- ProZenith recently announced the launch of its new wellness supplement developed to assist individuals in maintaining energy, focus, and mindful appetite awareness as part of a balanced and active lifestyle. Manufactured in the United States in a facility that is FDA-registered and GMP-certified, the product is now available through official online channels. ProZenith is intended for individuals pursuing support for general weight management and overall well-being. Its formulation includes select ingredients chosen to align with healthy routines and support individuals seeking help managing non-hunger-related snacking behaviors. Each purchase of ProZenith is covered by a 60-day refund policy, reflecting the company's customer-first return assurance framework. All ProZenith supplements are manufactured without genetically modified ingredients and adhere to U.S. quality standards. Production takes place in an FDA-registered facility that complies with current Good Manufacturing Practices (cGMP). ProZenith is currently available through the company's official online platform at with multiple purchase options provided for convenience. About ProZenith ProZenith develops nutritional supplements designed to support individuals on their wellness journeys. The company emphasizes high-quality manufacturing, transparency, and customer satisfaction as it continues to expand its product offerings for health-conscious consumers. For customer support inquiries, contact:support@ Disclaimer:This product has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. Media Contact: Company: ProZenith Address: 19655 E 35th Dr #100, Aurora, CO 80011 Email: support@ Order Phone Support: (925) 217-7353 CONTACT: Company: ProZenith Address: 19655 E 35th Dr #100, Aurora, CO 80011 Email: support@ Order Phone Support: (925) 217-7353Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
