March 11, 2022 – MediView XR, Inc., a provider of augmented reality (AR) and telecollaboration technologies for healthcare, has recently announced the closing of a USD $9.9 million round of SAFE financing syndicated by Inside View Investments, LLC, a private investment firm. This latest round of funding brings MediView’s total funding raised to date to approximately USD $14.4 million.
MediView combines augmented reality with surgical navigation to provide surgeons and healthcare professionals with 3D “X-Ray vision” through the skin for minimally invasive procedures. With its technological innovations, the company aims to improve medical imaging, clinical efficiencies, patient outcomes and access to high-quality modern medical services.
“This round of financing provides a critical runway for MediView to achieve several milestones over the coming 12 months, particularly in the areas of FDA submissions, commercialization, strategic engagements, and investing in our expanding team and resources,” said Adam E. Rakestraw, MediView Cofounder & Chairman.
The company currently has three tiers of its platform in various stages of development:
The XR30 – now in its early stages of commercialization, helps alleviate long-standing ergonomic challenges with medical imaging. Practitioners can use augmented reality to optimally position ultrasound imaging in the line of sight of their hands, tools, and the patient during minimally-invasive procedures. Additionally, XR30 enables collaboration between on-site and remote caregivers.
The XR50 – to be submitted for FDA clearance in the first half of the year, adds procedural guidance capabilities to the XR30 by creating a visible pathway for the practitioner’s instrument during procedures.
The XR90 Augmented Reality Surgical Navigation System – MediView’s flagship product, is slated for FDA submission in the second half of 2022, according to the company. XR90 empowers practitioners with “X-Ray vision” of a patient’s detailed internal soft tissue, organ, vascular and skeletal structures. The system further combines live imaging and tracking of the surgeon’s tools with the X-ray vision for enhanced surgical navigation capabilities. Expanding access to less invasive cancer ablation therapies is the first application of the XR90 platform.
MediView stated that its products were developed in collaboration with Microsoft, utilizing the company’s HoloLens 2 device, GE Healthcare for its imaging technologies, and the Cleveland Clinic where clinical and technical research are being performed. In addition to the AR and X-Ray vision capabilities of MediView’s products, all three solutions allow for remote collaboration via any Internet-connected device or a HoloLens 2 headset.
According to MediView’s President and CEO Mina Fahim, the company is currently in negotiations with a number of imaging and medical device industry leaders to develop novel AR solutions. Commenting on the funding, Fahim said: “With this financing, MediView is strongly positioned leading into our next fundraising activities.”
MediView stated that it plans on closing Series A financing in early 2023 and will be attending the LSI Emerging MedTech Summit in Dana Point, CA next week to initiate these efforts.
For more information on MediView and its augmented reality solutions for “X-Ray vision” for surgeons, please visit the company’s website.
Image credit: MediView XR, Inc.