Mining & Metals
Conavi Receives C$1.25 Million From Ontario Government
Conavi Medical (CNVI.V) on Monday said it received a milestone payment of C$1.25 million from the Ontario government through the Life Sciences Scale-Up Fund (LSSUF).The payment was triggered by Conavi achieving FDA 510(k) clearance for its hybrid imaging system that allows "simultaneous hybrid" imaging of coronary arteries. Proceeds will be used to support the launch of the imaging system.Conavi can receive up to C$2.5 million in LSSUF funding based on the achievement of specified milestones. The company has now received C$1.75 million under the program to date.The company's shares were last seen up C$0.005 to C$0.25 on the TSX Venture Exchange.Price: $0.25, Change: $+0.01, Percent Change: +2.04%
$CNVI.V
