Rivanna has received a $30.5 million grant from the Biomedical Advanced Research and Development Authority (BARDA) to advance the company's Accuro XV system.
The system aims to provide comprehensive, point-of-care musculoskeletal diagnostics. It integrates ultrasound-based bone and 3D soft tissue imaging technology with AI-powered software to help with informed decision-making on treating bone fractures and soft tissue injuries. The grant also covers the submission of an application for clearance from the U.S. Food and Drug Administration (FDA).
The contract with BARDA includes options for additional funding up to $56.4 million, to support Rivanna's pursuit of 510(k) clearance for a CADe/x AI-powered fracture detection package.
Rivanna said this second round of funding follows an $11.6 million base contract executed in 2021 for the proof-of-concept product development and market assessment of Accuro XV.
