October 24, 2017 — Shockwave Medical reported $35 million in new financing, an extension of the company’s previously announced $45 million Series C financing. New investor Fidelity Management & Research Company participated, along with certain funds and accounts advised by T. Rowe Price Associates, Inc., a returning investor.
Proceeds from the financing will be used to expand commercialization and advance clinical development of the company’s Peripheral and Coronary Lithoplasty Systems in the United States and Europe and to advance development of a program evaluating the technology as a potential treatment for aortic valve stenosis.
The Peripheral Lithoplasty System is a therapy designed to treat calcified leg artery blockages with lithotripsy, sonic pressure waves historically used to treat patients with kidney stones. The technology is now commercially available in both the United States and Europe for the treatment of calcified plaque in peripheral arteries. In addition, the Coronary Lithoplasty System received CE mark earlier this year.
A first-In-human study of transcatheter aortic valve lithotripsy was presented at the PCR London Valves meeting in September 2017. The study demonstrated early feasibility of a new non-implant treatment for patients with aortic stenosis. Further studies and a transfemoral design are under development.
For more information: www.shockwavemedical.com
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