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AR Based Medical Technology Brand MediView Gains SAFE Funding of $9.9M

MediView XR, Inc., an augmented reality (AR) healthcare telecommunication solutions provider, has made a recent announcement about obtaining SAFE financing of USD $9.9 million in a round that was overseen by private investment company Inside View Investments, LLC. The new round of funding brings the total funding accumulated by MediView to a total of USD $14.4 million.

MediView offers solutions that amalgamate surgical navigation and AR technology to make three-dimensional X-Ray vision available to medical professionals, so they can get better outcomes for minimally invasive surgeries. MediView intends to provide technological offerings that can bring about positive changes in the domain of surgery outcomes, efficiency, medical imaging, and more.

According to Adam E. Rakestraw, Chairman and Co-founder of MediView, the new finance round is integral for the company to reach various milestones over the next year. He hinted that MediView wants to implement improvements in terms of engagements, FDA submissions, team expenditure, resource spends and more.

At present, the company has three different levels of technology under development. The first level is the XR 30, which is undergoing commercialisation, and is a solution that aims to reduce ergonomic hurdles related to medical imagery. Healthcare practitioners can rely on AR to achieve better ultrasound imaging in respect to their hands and limbs, in minimally invasive surgeries. The XR-30 can also be utilised for collaborations among remote caregivers and on-site caregivers.

The XR50 is the other offering that is expected to be submitted for clearance by the FDA. It augments the functionality of the XR30 in terms of procedural guidance features, through the creation of an instrument pathway whilst a procedure is underway.

The third technology offered by MediView is the XR90 Augmented Reality Surgical Navigation System, which is being considered as the flagship product of the company, and will be submitted within the latter half of 2022 to the FDA. XR90 gives the X-Ray vision technology to practitioners to gain a comprehensive insight into the organs, skeletal structures, internal tissues, and vascular structures of a patient. This offering also provides a combination of tracking and live imaging for tools through X-ray vision for improving the precision and scope of surgical navigation. It is set to be utilised for enhancing the access to minimally invasive therapies of cancer ablation.

According to MediView, the immersive technology offerings were created through the help of Microsoft, with the software giant’s HoloLens 2 device being used for the project. Other collaborators include GE Healthcare offered imaging technology, and the Cleveland Clinic, where the technical and clinical research is underway. Apart from the X-Ray vision and AR capabilities of the MediView offerings, all of the solutions can be utilised for remote collaboration through HoloLens 2 headsets or any device with the Internet.

Mina Fahim, CEO, and President, MediView, said that the company has talks ongoing with several leaders in the medical devices and imaging sectors for further AR developments. According to Fahim, the company will also look forward to further rounds of funding in the future.

 

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