News

Virginia Medtech Company Is Awarded $13M Contract Continuation from the Navy

NIRSense Inc., headquartered in Richmond, Virginia, won an expansion to a competitively-awarded contract this month to build fieldable physiology monitors for the US Navy. NIRSense has been working with the Department of Defense since 2019 to build medical-grade physiology monitors to support US warfighter safety, performance, and medical care in training and operations. “NIRSense has developed unmatched capabilities to provide physiological monitoring in challenging environments faced by our soldiers, sailors, airmen and marines at the direction of Navy, Army, and Air Force stakeholders”, said NIRSense CEO Casey Boutwell, PhD. Future battlefields are expected to produce new challenges for the military health system requiring the DoD to look for new solutions in training safety and casualty care. Dr. Boutwell continued; “We are honored to be selected to contribute to the critical mission of safely training and caring for one of our nation’s most valuable assets, the American warfighter.”

The contract continuation was funded by Naval Medical Research Command-Naval Advanced Medical Development (NMRC-NAMD) through the Medical Technology Enterprise Consortium (MTEC). NIRSense is actively hiring design, engineering, and management talent in offices in Virginia and North Carolina.

Learn more here.

Recent News

06/23/2026

Scout Space raises Series A second close from VTC Ventures, Long Knife, and 100KM

Scout Space, a space domain awareness sensor and software provider, has announced the second close of its Series A financing, adding VTC Ventures, Long Knife and 100KM to its investor syndicate. The initial close occurred in May 2026, led by Washington Harbour Partners. The funding will accelerate deployment of Scout’s in-orbit sensor network, support upcoming

06/22/2026

Icarus Medical Secures $7.2 Million Series A to Accelerate Growth and Innovation

Icarus Medical, a Charlottesville-based med-tech company focused on advancing orthopedic bracing technology, today announced the successful close of its Series A financing round. Originally targeting $5 million, the round closed oversubscribed at $7.2 million, reflecting strong investor confidence in the company’s technology platform, market momentum, and long-term vision. Orthopedic bracing company Icarus Medical closes oversubscribed

06/11/2026

Adial Pharmaceuticals Announces Acquisition of Azora Therapeutics and up to $64 Million Financing

Adial Pharmaceuticals, Inc. (Nasdaq: ADIL) (“Adial” or the “Company”) today announced that it has acquired Azora Therapeutics, Inc. (“Azora”), a biopharmaceutical company developing treatments for serious inflammatory diseases. The acquisition brings Azora’s lead asset AT177, a proprietary colon‑targeted aryl hydrocarbon receptor (AhR) agonist designed to enable localized activation with limited systemic exposure, into Adial’s pipeline.