Dual-Modality Imaging That Rewrites PCI Outcomes with Thomas Looby
In this episode of the Crux of Medtech Henry is joined by Thomas Looby, CEO of Conavi Medical. Thomas breaks down why combining IVUS + OCT in a single catheter could change coronary interventions and how the team is pacing toward a Q3 2025 510(k) with a measured “crawl, walk, run” launch plan. Expect candid insight on evidence, pricing, commercialisation, and strategic exit logic.
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Dual-Modality Imaging That Rewrites PCI Outcomes
Thomas Looby
Conavi Medical’s Mission to Transform Cardiovascular Imaging: A Conversation with CEO Thomas Looby
Introduction
Cardiovascular disease remains the world’s leading cause of death, with millions of interventions performed every year. Yet, despite incredible progress, many procedures are still guided by limited imaging tools. In a recent episode of The Crux of MedTech podcast, I sat down with Thomas Looby, CEO of Conavi Medical, to discuss how his team is redefining intravascular imaging - and why the company is attracting serious investor and clinical attention.
From Tech to MedTech: Tom Looby’s Journey
Looby’s career didn’t begin in healthcare. He first cut his teeth in technology and marketing before transitioning into medical devices. That early experience selling and integrating companies proved invaluable when he later took on leadership roles in medtech.
He led Given Imaging, maker of the groundbreaking PillCam endoscopic capsule, through acquisition by Covidien.
He ran a robotic exoskeleton company, learning the unique challenges of commercialising disruptive medtech.
Today, as CEO of Conavi Medical, he’s steering the company’s next-generation cardiovascular imaging platform toward market launch.
What has kept him in medtech? In his words, it’s the mission-driven connection to patients - reinforced by personal experiences, such as his father’s heart event, which highlighted the shortcomings of existing imaging tools.
The Problem: Outdated Imaging for Coronary Interventions
Every year, 4 million angiographies are performed to guide coronary interventions. These are essentially enhanced X-rays, useful but limited. To overcome those limitations, two technologies emerged:
IVUS (Intravascular Ultrasound) - excellent for measuring vessel size and stent placement but lower in resolution.
OCT (Optical Coherence Tomography) - superior resolution but weaker at depth and sizing.
Historically, physicians had to choose one, despite each having clear blind spots. As Looby explains, "doctors will only use one catheter during an intervention - either IVUS or OCT - and they’re forced to accept the trade-offs".
The Solution: Conavi’s Dual-Modality Imaging Platform
Conavi Medical is the first company to successfully combine IVUS and OCT into a single catheter, without compromising form factor or cost. This dual-modality system gives physicians the best of both worlds:
Deep, reliable vessel measurements (IVUS).
High-resolution images for complex lesion assessment (OCT).
No additional cost compared to single-modality catheters.
The impact on clinical outcomes is profound. A recent Lancet meta-analysis of 22 clinical trials showed that intravascular imaging can reduce post-procedure mortality by 46% and stent thrombosis by 52%.
Commercialisation Strategy
Conavi has already tested its first-generation platform in leading North American hospitals. With insights from those deployments, the next-generation product is now complete and moving through FDA clearance, targeting launch in Q3 2025.
Key steps in their commercial rollout:
Early adopter hospitals - starting with those who trialled the first generation.
Controlled feedback loops - refining usability and workflows.
Global strategy - U.S. launch first, followed by Japan and Europe where reimbursement environments are favourable.
Financing and Growth
Conavi’s quiet Canadian roots are quickly giving way to global recognition. After acquiring the assets of Titan Medical (a Toronto-based surgical robotics pioneer), Conavi went public on the TSX Venture Exchange.
In April, the company raised $20 million, far surpassing its $2–5 million target. Why? Investors saw:
Retired technology risk, with design verification completed.
Clear regulatory pathway, with FDA pre-submission already in progress.
As Looby highlights, “the only risk investors saw left was capital risk - and they helped us solve that with a much larger raise”.
Building for Acquisition - or Independence
Long-term, Conavi envisions two possible futures:
Independent growth – commercialising directly and capturing market share.
Strategic acquisition – being absorbed into a major player like Abbott, Boston Scientific, or Philips, who currently offer either IVUS or OCT, but not both.
With only two acquirable imaging companies in this space - and Conavi the only one with dual-modality - the company is already positioning itself as a highly attractive target.
Lessons for MedTech Entrepreneurs
Throughout the conversation, Looby shared insights relevant to any founder or executive in medtech:
Market development must start early - don’t rely solely on KOLs, broaden feedback before launch.
Risk reduction drives acquisitions - the more regulatory, technical, and market risks you retire, the more attractive your company becomes.
Mission matters - engineers and clinicians stay committed when they see the direct impact on patients.
Conclusion
Conavi Medical is on the cusp of reshaping how physicians approach coronary interventions. By eliminating trade-offs in intravascular imaging, their technology could set a new standard of care - while also positioning the company as a prime acquisition target in a consolidating market.
As Looby says, “We’re the only company that can combine IVUS and OCT into the same catheter. That’s exactly what the market needs — and what patients deserve.”
