MRI Interventions scores NIH grant

MRI Interventions has received a phase II grant award from the U.S. National Institutes of Health (NIH) for the development of clinical grade, MRI-safe myocardial biopsy forceps.

The company previously completed a phase I grant for the initial development of the technology and is now entering the second phase of development.

CEO Frank Grillo said the grant has the potential to generate more than $1.5 million in development funding over two years, subject to NIH approval.