VerAvanti Positions for Market Launch with Reg D Filing Raise and Two NIH Grants 

VerAvanti Positions for Market Launch with Reg D Filing Raise and Two NIH Grants 

Quietly in late May, VerAvanti, a developer of a new class of scientifically-advanced solutions to help physicians find answers to treat strokes and heart attacks that often strike without warning, emerged from stealth mode when it announced a Reg D Filing to raise $5 million. This raise will complement the millions already invested by serial entrepreneur Gerald McMorrow, who founded VerAvanti in 2013 after growing his former startup, Verathon Inc., a maker of diagnostic ultrasound tools, into a multi-national powerhouse and successful acquisition by Roper Industries in 2009. In addition to finalizing its funding efforts, VerAvanti was awarded two back-to-back NIH Research Grants in May and June. All funds will further the company’s continued research, product development, and strategic hiring as it readies for a 2018 market launch, pending FDA 510(k) premarket clearance.

Medical startup VerAvanti raises $5M to build products to prevent strokes and heart attacks

Medical startup VerAvanti raises $5M to build products to prevent strokes and heart attacks

…This new funding round comes from family and friends rather than venture capital. McMorrow told GeekWire that the structure of the company, as a deliberate, long-term producer of medical products, doesn’t fit well with the VC funding model. “We want to create a really solid company, build lifetime careers for our people, build really good products for our customers that help them provide better healthcare to their patients,” McMorrow said. “We are not in here just to get something and flip it.” VerAvanti’s first product is called a Scanning Fiber Endoscope, and it consists of an imaging station and a tiny catheter that is designed to take HD quality images.