- Successfully Closes $12M Public Offering, Strengthens Balance Sheet and Supports Anticipated U.S. Launch- Recent Peer-Reviewed Publication Demonstrates Advantages of Hybrid IVUS-OCT Imaging TORONTO, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV: CNVI) (OTCQB: CNVIF) (“Conavi” or the “Company”), a medical device company focused on designing, manufacturing, and marketing imaging technologies to guide minimally invasive cardiovascular procedures, today reported financial results and provided a ...

Core Insights - The publication of new peer-reviewed research supports the clinical and commercial value of Conavi Medical's hybrid intravascular imaging platform, demonstrating its superiority in plaque characterization compared to single-modality analyses and human experts [1][2]. Group 1: Research Findings - The study analyzed IVUS-OCT images and matched histological sections from 10 cadaveric human hearts, showing that a histology-trained hybrid IVUS-OCT deep-learning classifier outperformed single-modality IVUS, single-modality OCT, and expert readers in plaque characterization [2]. - The research highlights the importance of comprehensive hybrid imaging systems in enhancing treatment planning for coronary interventions [2]. Group 2: Company Developments - Conavi Medical is advancing the development and commercialization of its next-generation hybrid IVUS-OCT imaging solutions, having submitted its Novasight imaging system to the U.S. FDA for regulatory clearance [4]. - The company has granted stock options to its Chief Financial Officer, Mark Quick, for a total of 1,000,000 common shares at an exercise price of $0.41 per share, as part of its long-term incentive program [5][6]. Group 3: Leadership and Expertise - The publication includes contributions from Dr. Brian Courtney, a pioneer in hybrid IVUS-OCT imaging, and co-authors from various regions, including Canada, Europe, and the USA, as well as AI researchers from Queen Mary University of London [3]. - The CEO of Conavi Medical, Tom Looby, emphasized the clinical value proposition of the technology platform and the significance of hybrid systems in the evolving field of image-guided coronary interventions [4]. Group 4: Company Overview - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures, with its Novasight Hybrid™ System being the first to combine IVUS and OCT into a single device [7]. - The first-generation Novasight Hybrid™ System has received 510(k) regulatory clearance in the U.S., Canada, China, and Japan [7].

Core Viewpoint - Conavi Medical Corp. has successfully closed an equity offering, raising approximately $12 million to support the commercialization of its Novasight Hybrid system and other corporate purposes [1][2][4]. Group 1: Offering Details - The equity offering generated gross proceeds of approximately $12 million, with subscribers purchasing 26,666,670 common shares at a price of $0.45 per share [1][3]. - The proceeds will be utilized for obtaining US FDA 510(k) clearance for the Novasight Hybrid system and initiating a targeted market release in the United States, along with working capital and general corporate purposes [2][4]. Group 2: Company Background - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures, with its Novasight Hybrid system being the first to combine intravascular ultrasound (IVUS) and optical coherence tomography (OCT) [7]. - The first-generation Novasight Hybrid system has already received 510(k) regulatory clearance in the U.S., Canada, China, and Japan [7]. Group 3: Agent and Compensation - Bloom Burton Securities Inc. acted as the sole agent for the offering, receiving a total cash commission of approximately $701,479.49 and 1,558,843 compensation options, each allowing the purchase of one common share at $0.45 until January 13, 2028 [3][6].

Core Viewpoint - Conavi Medical Corp. is conducting a public offering of common shares and pre-funded common share purchase warrants to raise between $12 million and $15 million for regulatory clearance and market release of its Novasight Hybrid system, along with working capital needs [2][3][6]. Group 1: Offering Details - The offering consists of a minimum of 26,666,667 and a maximum of 33,333,333 securities priced at $0.45 per common share or $0.44999 per pre-funded warrant [2]. - Each pre-funded warrant allows the holder to acquire one common share at an exercise price of $0.00001, with no expiration and can be exercised on a cashless basis [2]. - The offering may be completed in one or more tranches, with an expected initial closing date around January 13, 2026, subject to regulatory approvals [6]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to obtain US FDA 510(k) clearance for the Novasight Hybrid system and to facilitate a targeted market release in the United States [3]. - Additional proceeds will be allocated for working capital and general corporate purposes [3]. Group 3: Agent and Fees - The company will pay the agent, Bloom Burton Securities Inc., a cash fee of 6.5% of the gross proceeds and grant compensation options equal to 6.5% of the total number of securities issued [7]. - A reduced cash commission of 3.25% will apply for certain purchasers on a president's list, with no compensation options for those sales [7]. Group 4: Regulatory Filings - An amended and restated final short form prospectus was filed on January 7, 2026, with securities regulatory authorities in Alberta, British Columbia, and Ontario [5]. - The offering is subject to customary closing conditions, including necessary regulatory and stock exchange approvals [6]. Group 5: Company Overview - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures [12]. - The Novasight Hybrid system combines intravascular ultrasound and optical coherence tomography into a single device, enabling simultaneous imaging of coronary arteries [12].

Core Viewpoint - Conavi Medical Corp. is conducting a public offering of common shares and pre-funded common share purchase warrants to raise between $12 million and $15 million for regulatory clearance and market release of its Novasight Hybrid system, along with working capital needs [2][3]. Offering Details - The offering consists of a minimum of 26,666,667 and a maximum of 33,333,333 securities priced at $0.45 per common share or $0.44999 per pre-funded warrant [2]. - Each pre-funded warrant allows the holder to acquire one common share at an exercise price of $0.00001, with no expiration and can be exercised on a cashless basis [2]. Use of Proceeds - The net proceeds from the offering will be used to obtain US FDA 510(k) clearance for the Novasight Hybrid system and to support a targeted market release in the United States, as well as for working capital and general corporate purposes [3]. Regulatory and Closing Information - The offering is expected to close on or about January 13, 2026, subject to customary closing conditions and necessary regulatory approvals [6]. - An amended and restated final short form prospectus was filed on January 7, 2026, which must be approved before any sale of securities [5]. Agent Compensation - The company will pay the agent a cash fee of 6.5% of the gross proceeds and grant compensation options equal to 6.5% of the total number of securities issued [7]. - A reduced cash commission of 3.25% will apply for certain purchasers on a president's list, with no compensation options for those sales [7]. Company Overview - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures, with its Novasight Hybrid system being the first to combine intravascular ultrasound and optical coherence tomography [12].

Core Insights - Conavi Medical Corp. experienced a transformational fiscal year 2025, achieving significant regulatory, clinical, financial, and operational milestones, including the submission of its next-generation Novasight Hybrid™ system to the FDA and strengthening its balance sheet through U.S. institutional investments [2][3][6]. Business and Operational Highlights - The company completed its U.S. FDA 510(k) submission for the Novasight Hybrid™ IVUS/OCT system in September 2025, following successful validation testing with interventional cardiologists [3]. - Multiple peer-reviewed publications during fiscal 2025 emphasized the importance of intravascular imaging in complex coronary interventions, supporting Conavi's dual-modality imaging approach [4]. - Conavi participated in key cardiovascular conferences, such as TCT 2025, to showcase its hybrid imaging technology and engage with interventional cardiologists ahead of its commercial launch [5]. Financial Highlights - For the fiscal year ended September 30, 2025, Conavi reported total revenue of CAD 9.1 million, a significant increase from CAD 2.2 million in the previous year, primarily driven by licensing and milestone revenue from a technology transfer agreement in China [11]. - Operating expenses decreased to CAD 22.5 million from CAD 26.3 million in the prior year, resulting in an operating loss of CAD 14.9 million, an improvement from CAD 26.2 million in fiscal 2024 [12]. - The net loss for fiscal 2025 was CAD 20.5 million, or CAD 0.36 per share, compared to a net loss of CAD 43.6 million, or CAD 7.08 per share, in the previous year, attributed to a gain from the change in fair value of the company's warrant liability and lower operating expenses [13]. Funding and Financial Position - In April 2025, Conavi completed a public equity financing, raising CAD 20 million, and secured eligibility for up to CAD 2.5 million in non-dilutive funding from the Province of Ontario to support commercialization activities [6][14]. - As of September 30, 2025, the company reported cash and cash equivalents of CAD 5.8 million, a significant increase from CAD 0.4 million as of September 30, 2024 [14]. Market Outlook - With U.S. and European clinical guidelines now recommending the use of IVUS or OCT for guiding PCI in complex coronary interventions, Conavi is positioned to capitalize on the growing demand for intravascular imaging following anticipated FDA clearance and U.S. commercial launch [8].

Core Viewpoint - Conavi Medical Corp. is conducting a public offering of common shares and pre-funded common share purchase warrants to raise between $15 million and $20 million for the development of its Novasight Hybrid system and general corporate purposes [2][3][4]. Offering Details - The offering consists of a minimum of 33,333,333 and a maximum of 44,444,444 securities priced at $0.45 per common share or $0.44999 per pre-funded warrant [3]. - Each pre-funded warrant allows the holder to acquire one common share at an exercise price of $0.00001, with no expiration and can be exercised on a cashless basis [3]. Use of Proceeds - The net proceeds will be used to obtain US FDA 510(k) clearance for the Novasight Hybrid system, complete a limited market release, and initiate a broader commercial launch in the U.S. [4]. Closing and Regulatory Compliance - The offering is expected to close on or about December 23, 2025, subject to customary closing conditions and regulatory approvals [6]. - A final short form prospectus will be filed with securities regulatory authorities in Alberta, British Columbia, and Ontario [5]. Agent and Fees - The company will pay the agent a cash fee of 6.5% of the gross proceeds and grant compensation options equal to 6.5% of the total number of securities issued [7]. - A reduced cash commission of 3.25% will apply to certain purchasers on a president's list [7]. Company Overview - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures, with its Novasight Hybrid system combining intravascular ultrasound and optical coherence tomography [12].

Core Viewpoint - Conavi Medical Corp. has filed a preliminary short form prospectus for an offering of common shares and/or pre-funded common share purchase warrants to support the launch of its Novasight Hybrid system and for general corporate purposes [2][4]. Offering Details - The offering will be conducted on a commercially reasonable efforts agency basis through Bloom Burton Securities Inc. [3] - The final terms, including the number of securities and pricing, will be determined through negotiations between the company and the agent [3]. - The expected closing date for the offering is around December 12, 2025, subject to customary closing conditions and regulatory approvals [5]. Use of Proceeds - The net proceeds from the offering will be utilized to obtain US FDA 510(k) clearance for the Novasight Hybrid system, complete a limited market release, and initiate a broader commercial launch in the United States [4]. Company Overview - Conavi Medical focuses on designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures [9]. - The Novasight Hybrid™ System combines intravascular ultrasound (IVUS) and optical coherence tomography (OCT) into a single device, allowing simultaneous imaging of coronary arteries [9][10].

Core Insights - Conavi Medical Corp. has entered into an agreement with the Province of Ontario under the Life Sciences Scale-Up Fund (LSSUF) to support the commercial launch of its next-generation Novasight Hybrid™ system [1][2][3] Group 1: Financial Support and Project Details - The LSSUF will provide Conavi with up to $2.5 million CAD, covering up to one-third of eligible project costs related to the Novasight Hybrid™ system [2] - The funding is contingent upon meeting certain requirements as part of the project [2] Group 2: Product and Technology - The Novasight Hybrid™ system integrates intravascular ultrasound (IVUS) and optical coherence tomography (OCT) into a single device, offering comprehensive imaging of coronary arteries [3][4] - This dual-modality approach aims to enhance the precision of diagnosis and treatment for cardiovascular diseases [3] Group 3: Industry Context and Impact - Heart disease is a leading cause of death in Canada and globally, highlighting the importance of advancements in intravascular imaging technologies [3] - The partnership with the Province of Ontario is expected to reinforce the region's position as a leader in life sciences innovation [3]

Core Points - Conavi Medical Corp. is a commercial-stage medical device company focused on imaging technologies for minimally invasive cardiovascular procedures [1][3] - The company will present at the Planet MicroCap Showcase: TORONTO 2025 on October 22, 2025, at 9:30 AM EST [1][2] - Tom Looby, the CEO of Conavi Medical, will host the presentation and answer questions afterward [1] Company Overview - Conavi Medical specializes in designing, manufacturing, and marketing imaging technologies, particularly the Novasight Hybrid™ System [3] - The Novasight Hybrid™ System is the first device to combine intravascular ultrasound (IVUS) and optical coherence tomography (OCT) for simultaneous imaging of coronary arteries [3] - The first-generation Novasight Hybrid™ System has received regulatory clearance in the U.S., Canada, China, and Japan [3] Event Details - The Planet MicroCap Showcase: TORONTO 2025 is organized in partnership with MicroCapClub [4] - Live presentations will be accessible via a webcast link provided for attendees [2][3] - Attendees can schedule 1x1 investor meetings with Conavi Medical during the conference [2]