NuVera Medical Secures $15M Seed Funding to Advance Real-Time 3D Intracardiac Ultrasound Imaging Platform

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that medical device company NuVera Medical recently announced the completion of a $15 million seed financing round. The round was led by Cormorant Asset Management, with participation from Capital Partnership, Lilly Asia Ventures, and other existing shareholders. It is reported that NuVera Medical will use the proceeds from this financing to continue developing its real-time 3D intracardiac echocardiography technology platform, which will be applied in an increasing number of complex cardiovascular procedures.

NuVera Medical is a portfolio company of Shifamed. Shifamed is an advanced medical technology incubator that combines human-centered design, specialized engineering expertise, and in-house R&D facilities to develop new medical products from initial concept through to successful commercial launch. Shifamed has a proven track record of entrepreneurial success, having founded advanced medical technology companies and brought high-value products to market either directly or through acquisitions.

NuVera Medical, headquartered in California, USA, is dedicated to developing novel imaging platforms that usher in a new era of transcatheter cardiac interventional therapy. With the rapid advancement of treatments in the electrophysiology (EP) ablation and structural heart (SH) markets, current imaging methods fail to meet the demands for procedural guidance. The NuVera platform represents a true paradigm shift in real-time 3D guidance, enabling the expansion and sustainable market adoption of an increasing number of interventional procedures within the cardiac chambers.

Chen Bihua, CEO of Cormorant Asset Management, stated, “We are confident in the NuVera team’s execution capabilities and their ability to deliver significant procedural improvements to the cardiology market. Our investment will strengthen our relationship with NuVera Medical and Shifamed, which will also enhance our competitive strength.”

Todor Jeliaskov, CEO of NuVera Medical, further stated, “To date, our preclinical work has yielded significant results. These findings further validate the value proposition of NuVera’s technology in electrophysiology and structural heart applications, and we look forward to advancing our products to the next stage of development in the shortest possible time.”

In the United States, 2D ICE is currently used in approximately 85% of electrophysiology ablation cases, representing a $250 million market with a compound annual growth rate (CAGR) of 17%. By delivering parallel 2D and 4D intracardiac images through a single ICE catheter, the NuVera system is poised to rapidly capture share in the fast-growing and continuously innovating electrophysiology market.

Furthermore, real-time 4D imaging will continue to play a pivotal and enabling role in increasingly complex procedural applications that are expanding the structural heart market. Currently, operators rely on 4D transesophageal echocardiography (TEE) for real-time 3D visualization, which requires specialized sonographers and is typically performed under general anesthesia. This approach increases procedural costs and duration while prolonging hospital stays. In contrast, providing 4D imaging on intracardiac echocardiography (ICE) platforms can reduce the financial burden on hospitals and place control of the imaging catheter directly in the hands of interventional physicians.

Cormorant Asset Management is an employee-owned hedge fund headquartered in Boston, United States. The firm primarily provides portfolio management and advisory services to collective investment vehicles worldwide.

Capital Partnership, established in 1998, is an independent asset management firm that provides comprehensive asset management services and customized investment solutions to institutional and private investors.

Lilly Asia Ventures is the venture capital arm of Eli Lilly and Company, a global, innovation-driven pharmaceutical company. It focuses on growth-stage investments and all development stages from startup to commercialization, primarily investing in the life sciences and healthcare sectors.

(Compiled by: Yang Fudong)