A medical startup company founded by two Waterloo Engineering graduates has raised US $2.65 million to continue its growth.
NERv Technology, which recently moved to the Medical Innovation Xchange (MIX) in Kitchener, said in a media release this week that it will use the seed funding to secure regulatory approvals, compete clinical studies and establish a manufacturing line.
Launched in 2014 by alumni Youssef Helwa (BASc ’15, nanotechnology engineering, MASc ’17, electrical engineering) and Amr Abdelgawad (BASc ’16, nanotechnology engineering, MBET ’17) when they were still students at Waterloo Engineering, NERv has developed a sensory platform to detect leaks following abdominal surgeries.
Identifying leaks early can reduce the length of hospital stays, significantly reduce costs and help save lives.
The workforce at the company has grown to 24 from 16 during the COVID-19 pandemic.