Maryland Venture Fund and The Abell Foundation Top Investors in Round of Financing
Perceptive Navigation, LLC, a privately-held, Maryland-based medical device company developing solutions for the rapidly growing image- guided market, today announced the closing of its $500,000 seed round of financing, led by the Maryland Venture Fund (MVF) and The Abell Foundation. The proceeds will accelerate the development of Vu-Path, Perceptive Navigation's ultrasound probe for minimally invasive interventional procedures, as well as enable its regulatory submission to the FDA.
Perceptive Navigation also announced the appointment of Todd Chappell as Chief Executive Officer. Chappell comes to Perceptive Navigation with fifteen years of experience working withearly-stage, venture-backed biotechnology companies. Most recently, he managed a portfolio of start-up pharmaceutical and medical device companies at BioHealth Innovation, Inc. (BHI), a regional innovation intermediary focused on commercializing market-relevant life science innovations, as an Entrepreneur-in-Residence. Perceptive was incubated at BHI under the leadership of Chappell prior to his appointment as Chief Executive Officer.